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because of the same problem as other contracts the lack of trustworthy Oracles, you need some trusted third-party to confirm what happened on the real world.

by elmar 9y ago

vadimberman 9y ago
And how did it work with the Silk Road?
- jackpeterfletch 9y ago
  You had one central oracle (Silk Road) of dealer/buyer reviews, and dealers put up a deposit. Scamming was rife, but largely mitigated by the fact that the dealer cant effect their reviews and nor can the buyer. The dealer has the choice to not sell to you based on your history, the buyer has the choice to not buy from a dealer with a bad history. Other than that, bitcoin had little to do with its security apart from providing anonymity. If it was possible to do so anonymously you could have just post them cash.
  - jackpeterfletch 9y ago
    To add to this. This exiting scamming shows it was never watertight.
the_stc 9y ago
At my company (details in profile, sex-work related), this is exactly why we are centralized. Some competitors go on about smart contracts, and how people will meet for services and exchange escrow keys...it is far-fetched! For example: We want to prevent underage users and duplicates. We do that by manually screening IDs. Hard to do that on a decentralized system... Another major issue: In sex work, clients present a significant threat. An abusive client needs to be reliably banned. Having them put up a deposit is just not a substitute. E-commerce do not have this as client only receives what seller sends and poses no risk to seller. We from our central point-of-view can detect rings, ban money launderers and traffickers, investigate and appeal if needed. Decentralized system that adds such a feature is ripe for gaming. And yes: Single point to make money, campaign, run ads, provide incentives (sign-up-friend, get-$50-credit) and organize labor...this is an important aspect as well.

because of the same problem as other contracts the lack of trustworthy Oracles, you need some trusted third-party to confirm what happened on the real world.

by elmar 9y ago

because of the same problem as other contracts the lack of trustworthy Oracles, you need some trusted third-party to confirm what happened on the real world.

vadimberman 9y ago

And how did it work with the Silk Road?

jackpeterfletch 9y ago
You had one central oracle (Silk Road) of dealer/buyer reviews, and dealers put up a deposit. Scamming was rife, but largely mitigated by the fact that the dealer cant effect their reviews and nor can the buyer. The dealer has the choice to not sell to you based on your history, the buyer has the choice to not buy from a dealer with a bad history. Other than that, bitcoin had little to do with its security apart from providing anonymity. If it was possible to do so anonymously you could have just post them cash.
- jackpeterfletch 9y ago
  To add to this. This exiting scamming shows it was never watertight.

the_stc 9y ago

At my company (details in profile, sex-work related), this is exactly why we are centralized. Some competitors go on about smart contracts, and how people will meet for services and exchange escrow keys...it is far-fetched! For example: We want to prevent underage users and duplicates. We do that by manually screening IDs. Hard to do that on a decentralized system... Another major issue: In sex work, clients present a significant threat. An abusive client needs to be reliably banned. Having them put up a deposit is just not a substitute. E-commerce do not have this as client only receives what seller sends and poses no risk to seller. We from our central point-of-view can detect rings, ban money launderers and traffickers, investigate and appeal if needed. Decentralized system that adds such a feature is ripe for gaming. And yes: Single point to make money, campaign, run ads, provide incentives (sign-up-friend, get-$50-credit) and organize labor...this is an important aspect as well.