Author: Melvin Carvalho 2013-04-27 14:14:42
Published on: 2013-04-27T14:14:42+00:00
The thread is discussing a method to bring Bitcoin and RSA key pairs together. Alice wants to send 1 BTC to Bob, but they have RSA key pairs and no public bitcoin addresses. The proposed solution involves using Bob's WebID to create entropy, producing a BTC address with an ECDSA key pair, sending coins to this address, and encrypting the seed with Bob's public key so he can decrypt it and use it to recreate the wallet and spend the coins. This method unites the web paradigm and cryptocurrency paradigm into one potentially giant ecosystem. Another proposal suggests exporting a private key for a new address generated by the bitcoin client and sending it encrypted with GPG to Bob, who can then import it into his wallet. However, this method still requires trust between the parties and does not provide a payment mechanism. The goal is to automate the process of bootstrapping the RSA key community with Bitcoin to make it more accessible to GPG users who may not have a Bitcoin wallet or address.
Updated on: 2023-06-06T15:23:12.155886+00:00