4 ms·
The construction of the multisig is such that (1) the key we generate and store encrypted on the note can never access the funds alone -- and we don't store it
by ccamrobertson 4y ago
The construction of the multisig is such that (1) the key we generate and store encrypted on the note can never access the funds alone -- and we don't store it because we don't want to be custodians and (2) the end users load the notes, we never touch BTC.
- ALittleLight 4y agoI think you need a better explanation of the multisig procedure and how you are not a central authority, capable of spending the bitcoin, etc. I've seen multiple comments here confused by this.
- ccamrobertson 4y agoThanks for the feedback -- agreed, that's definitely become apparent.
- quickthrower2 4y agoYes, people need to know: 1. What are the steps to purchase it. 2. What are the steps to spend it. 3. What are the steps to receive it, including verification. 4. Convince me I won't lose my funds by accident. 5. Convince me I won't lose my funds by hack of protocol. 6. Convince me I won't lose funds if a hacker gains access to your centralized system. 7. What happens if I lose the note(s)? 8. Processing fees. 9. Can I give someone a note and avoid the Bitcoin transaction fee? (I am guessing yes as nothing needs to happen on the chain. But if I receive a note can I be sure I won't be swindled).
- spicybright 4y agoFrankly it seems weird you even need this pointed out to you. If I wasn't giving you the benefit of the doubt, it really smells like your typical crypto scam to trick people that don't understand the technology fully into giving you money.