public inbox for bitcoindev@googlegroups.com
 help / color / mirror / Atom feed
From: Peter Todd <pete@petertodd.org>
To: Mike Hearn <mike@plan99.net>
Cc: Bitcoin Development <bitcoin-development@lists.sourceforge.net>,
	Jeremy Spilman <jeremy.spilman@gmail.com>
Subject: Re: [Bitcoin-development] Eliminating double-spends with two-party self-escrow for high value transactions
Date: Sat, 26 Apr 2014 14:31:19 -0400	[thread overview]
Message-ID: <20140426183119.GB16440@savin> (raw)
In-Reply-To: <CANEZrP3VpsW_RNWUpw-gsQhXqLF4deOJJPHxGJUc8Gx_y0B9wA@mail.gmail.com>

[-- Attachment #1: Type: text/plain, Size: 787 bytes --]

On Sat, Apr 26, 2014 at 08:07:58PM +0200, Mike Hearn wrote:
> What stops the buyer just always waiting to get their money back?

The seller won't hand over the goods of course until they have a valid
transaction signed by the buyer sending them the escrowed funds. (and
the nLockTime deadline is sufficiently far away that the probability of
not being able to get the transaction mined in time is low)

Note how the mechanism I'm proposing is basically just a Jeremy
Spilman-style micropayment channel(1) used for a single payment; I
should have made that clear in my original post.

1) http://www.mail-archive.com/bitcoin-development%40lists.sourceforge.net/msg02028.html

-- 
'peter'[:-1]@petertodd.org
000000000000000069ea3b64f8b627bc81c8981ce80e95edf81cd356ad04e1a0

[-- Attachment #2: Digital signature --]
[-- Type: application/pgp-signature, Size: 685 bytes --]

  reply	other threads:[~2014-04-26 18:31 UTC|newest]

Thread overview: 5+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
2014-04-26 11:23 [Bitcoin-development] Eliminating double-spends with two-party self-escrow for high value transactions Peter Todd
2014-04-26 18:07 ` Mike Hearn
2014-04-26 18:31   ` Peter Todd [this message]
2014-04-26 18:51     ` Mike Hearn
2014-04-26 19:37     ` Peter Todd

Reply instructions:

You may reply publicly to this message via plain-text email
using any one of the following methods:

* Save the following mbox file, import it into your mail client,
  and reply-to-all from there: mbox

  Avoid top-posting and favor interleaved quoting:
  https://en.wikipedia.org/wiki/Posting_style#Interleaved_style

* Reply using the --to, --cc, and --in-reply-to
  switches of git-send-email(1):

  git send-email \
    --in-reply-to=20140426183119.GB16440@savin \
    --to=pete@petertodd.org \
    --cc=bitcoin-development@lists.sourceforge.net \
    --cc=jeremy.spilman@gmail.com \
    --cc=mike@plan99.net \
    /path/to/YOUR_REPLY

  https://kernel.org/pub/software/scm/git/docs/git-send-email.html

* If your mail client supports setting the In-Reply-To header
  via mailto: links, try the mailto: link
Be sure your reply has a Subject: header at the top and a blank line before the message body.
This is a public inbox, see mirroring instructions
for how to clone and mirror all data and code used for this inbox