Author: Mike Hearn 2014-03-27 10:08:22
Published on: 2014-03-27T10:08:22+00:00
The writer discusses the criticality of verifying the identity of the recipient while making payments through Bitcoin. The writer suggests that this may differ between people, but paying for meals at a restaurant is usually safe as the name on the company register and certificate would be good enough to prevent fraud. Even if there is a virus on the phone, it cannot replace the certificate with a random stolen one. The writer thinks it would be too hard to bother with stealing restaurant fees. If a waiter is corrupt and replaces the certificate with their own 1-man business, they may get paid by mistake, but eventually, someone will discover the fraud. The writer suggests having a cheesy CA just for them that issues certificates with addresses in them, which can be verified through a postcard sent to the address or checking ownership on Google Maps. However, this does not work for vending machines, and the writer suggests not caring about those situations if a MITM steals lunch money.
Updated on: 2023-06-08T01:06:19.118265+00:00