Timelock: time-release encryption incentivised by Bitcoins

Re:Timelock: time-release encryption incentivised by Bitcoins by schoen on Wednesday June 04, 2014 @07:07PM (#7849041)

Is there any way for the public to verify that the bounty can actually be claimed by doing the work? Or do they have to rely on the honesty of the person announcing the bounty?

In other words, is there something that stops me from saying that a certain computation that I want people to do will allow claiming the bounty associated with a certain Bitcoin address, when in fact the private key is some completely distinct key that I control and that has nothing to do with the time-lock computation?

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Re:Timelock: time-release encryption incentivised by Bitcoins by mrb on Wednesday June 04, 2014 @07:46PM (#7849212)

It is not possible to verify the bounty can be claimed.

pacofvf's idea is good though: distribute the bounty across the chains. If you find that the first bounty is missing, assume the informant was dishonest and abandon the work.

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Re:Timelock: time-release encryption incentivised by Bitcoins by pacofvf on Wednesday June 04, 2014 @07:23PM (#7849125)

maybe you can split the bounty into 14 parts and use chain{1,15}_iv0 as secrete keys. So now is not a winner takes all. Also you create more competition to ensure your lock is opened.

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Re:Timelock: time-release encryption incentivised by Bitcoins by mhei on Wednesday June 04, 2014 @11:49PM (#7850124)

I believe this is what Peter Todd did. At least his mail contains 32 bitcoin addresses, each with a balance of 10mBTC.

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