Topic: could an alt chain use the nash equalibrium to solve prisoners dilema? - page 2. (Read 1636 times)

We should expect that only irrational actors would cause coins to be destroyed unnecessarily. Sometimes though people might have weird ideas of whats profitable, think ultra wealthy sadist who gets a kick from destroying poor peoples money. Also sometimes parties who were actually innocent would appear guilty, so i send a package but it gets lost in the mail and you just think that i didnt send the package.

+1

see comment about 80's

better question .....

How did we survive the 80's?

Why would there be regular destruction? If it works, that ought to be rare.

ok so what happens if this becomes a popular thing and so coins become regularly destroyed from disputes like this. It could cause bitcoin to be FAR more deflationary than we had originally imagined. If this were the case than what would this mean for the future utility, rate of adoption, price and stability of bitcoin.

Turns out the Satoshi client does support it, but only through the command line / JSON-RPC interface. Geek-only for now.

I emailed the maker of Nashx a while back  - as i thought it was great - i told him to come onto this forum

he signed up so i just forwarded this topic to him  : )

so if you have questions for him his name is Nashx and his name on the forum he will likely respond  to  them here if asked.

Cheers.

Super awesome, i just need to find a client that supports this then.

If I understand things correctly, you can already do this with Bitcoin. The protocol supports it, but not all clients / miners (or any at all) support it.

A colored coin for freicoin is in the works, from what I have heard. I hope something like this is going to be a part of it. Freicoin is especially suited as it has demurrage which keeps the money supply stable over time, regardless of how many coins are destroyed or trapped in coin-prison. I would like to add the option of both agreeing to withdraw the trade also, with yet another pair of private keys published.

So let me start off by saying i was inspired by this thread. https://bitcointalksearch.org/topic/this-gives-me-hope-195012

The question is instead of relying on a centralized system could we use an alt chain to serve the same function as nashx. nashcoin lets call it =D. Basically, each party supplies a public key and these are combined to create a shared address, which they then both send funds too and this is recorded on the blockchain and those coins will remain forever trapped on that address that neither person really owns unless both parties publish their private keys. If they do both publish their private keys than the funds could be released to previously specified address.

inorder to protect against the depletion of the money supply we could just have a never ending block reward.

What this allows us to do is solve the prisoners dilemma. We can change the incentives so people who are questioned by the cops are literally and actually no longer self interested in rating out their partners. Just think of the implications! You could do blind trades with people on the internet, no trust required!

Ill go ahead and start a bounty of 1 btc for anyone who can create this altcoin but the opportunities for early adopters would be great since this would provide much needed coin with legitimate utility to the copy coin market. Anyone who knows how to make this shouldnt need my financial support as incentive to do it!