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A comment on BitFinex down due to Bitcoin security breach - 120k BTC stolen. Parent comment

Re:BitFinex down due to Bitcoin security breach - 120k BTC s... by hyh1048576 on Wednesday August 03, 2016 @09:58AM (#12217922)
That's a very nice remark by someone who clearly have a deep understanding of the BTC ecosystem.

(no sarcasm here, I totally agree that's what the ecosystem is like.)

> you can give someone the private key on a flash drive for goods, services, or an army.

But for this part, what if the one who gives out the private key moves the coins later? That's not a finalized transaction at all if both side have the private key.

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Re:BitFinex down due to Bitcoin security breach - 120k BTC s... by cloudjacker on Wednesday August 03, 2016 @10:14AM (#12218011)
Yes that is a problem and it does involve trust.

Conceptually It can be alleviated with having the coins in multisig address where a third party creates one of the signing keys and the original thief retained one, and ideally the second recipient also had a third signing key. Still have the problem of getting the third signing key generated in a way that required no trust, in advance

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