Topic: Refereed Transactions - page 2. (Read 5195 times)
It's possible, though I think you need some out-of-band system to get the escrow agent to sign your transaction.
Satoshi created the transaction scripting system exactly for purposes like this.
"The design supports a tremendous variety of possible transaction types that I designed years ago. Escrow transactions, bonded contracts, third party arbitration, multi-party signature, etc. If Bitcoin catches on in a big way, these are things we'll want to explore in the future, but they all had to be designed at the beginning to make sure they would be possible later." -Satoshi
https://bitcointalksearch.org/topic/m.1611
He said he was working on it for two-party escrows, but now that he's gone it might be something for the current developers to consider prioritizing.
Being able to so directly manipulate currency at the programmatic level allows for a full realization of the promises of smart contracts. Contract enforcement through code without violence. Decentralized, voluntary arbitration. Realized Cryptoanarchy. Imagine how much easier it would be to conduct business in such an environment. It's not mentioned often here, but Bitcoin, in addition to dramatically altering the monetary system, really could revolutionize the entire system of commerce law.
"The design supports a tremendous variety of possible transaction types that I designed years ago. Escrow transactions, bonded contracts, third party arbitration, multi-party signature, etc. If Bitcoin catches on in a big way, these are things we'll want to explore in the future, but they all had to be designed at the beginning to make sure they would be possible later." -Satoshi
https://bitcointalksearch.org/topic/m.1611
He said he was working on it for two-party escrows, but now that he's gone it might be something for the current developers to consider prioritizing.
Being able to so directly manipulate currency at the programmatic level allows for a full realization of the promises of smart contracts. Contract enforcement through code without violence. Decentralized, voluntary arbitration. Realized Cryptoanarchy. Imagine how much easier it would be to conduct business in such an environment. It's not mentioned often here, but Bitcoin, in addition to dramatically altering the monetary system, really could revolutionize the entire system of commerce law.
Yeah! ClearCoin is a kind of referee and could become a trusted certificate issuer.
But there are also many potential referees that would refuse to handle the coins themselves.
And it would be so nice if such trades could be done!
A can trade with B without knowing each other, and both only need to trust the referee C.
A can trade with B without knowing each other, and both only need to trust the referee C.
ClearCoin escrow has worked good enough for my purposes:
http://www.clearcoin.com/
Of course from a UI point of view it can be very simple. Alice just asks Freenode's website what she should put in the "condition" field in her "bitcoin send" window.
Would the current script system allow conditional transactions requiring a signed certificate from a third party referee?
Probably it is not possible, for the same reasons that have been disscussed in this thread https://bitcointalksearch.org/topic/need-opblocknumber-to-allow-time-limited-transactions-1786.
Though, it would allow very interesting uses of bitcoins...
Let's say A (Alice) is interested in some fancy item (lets say a fancynickname@freenode account) currently accorded to B (Bob) by C (Freenode).
So Alice would like to buy Bob account for 1BTC, but she is reluctant to send him the coin because she don't trust him. He might not give up his account even though he has received payment.
Of course Bob is also reluctant to give up his account before he received payment.
Now, let's say Freenode (who owns a GPG Key) agrees to sign account transfer certificates.
Alice would like to send Bob 1BTC conditional to the issue of such a certificate (within some deadline...).
And it would be so nice if such trades could be done!
A and B can trade without knowing each other, and both only need to trust the referee C.
Any thoughts?
Probably it is not possible, for the same reasons that have been disscussed in this thread https://bitcointalksearch.org/topic/need-opblocknumber-to-allow-time-limited-transactions-1786.
Though, it would allow very interesting uses of bitcoins...
Let's say A (Alice) is interested in some fancy item (lets say a fancynickname@freenode account) currently accorded to B (Bob) by C (Freenode).
So Alice would like to buy Bob account for 1BTC, but she is reluctant to send him the coin because she don't trust him. He might not give up his account even though he has received payment.
Of course Bob is also reluctant to give up his account before he received payment.
Now, let's say Freenode (who owns a GPG Key) agrees to sign account transfer certificates.
Alice would like to send Bob 1BTC conditional to the issue of such a certificate (within some deadline...).
And it would be so nice if such trades could be done!
A and B can trade without knowing each other, and both only need to trust the referee C.
Any thoughts?
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