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What's to stop Alice from ransoming the risked bitcoins for up to twice the cash selling price once she receives the payment for the transaction? Reptuation los
by DannoHung 13y ago
What's to stop Alice from ransoming the risked bitcoins for up to twice the cash selling price once she receives the payment for the transaction? Reptuation loss?
- oleganza 13y agoAlice receives payment only after sending some good to Bob.
- DannoHung 13y agoYeah. Let's call Alice's risk deposit Ad and Bob's risk Deposit Bd. Let's call Alice's good Ag and Bob's good Bg. Alice's Detonator is Da and Bob's Detonator is Db. In the box are Ad and 2Bd. Alice has in her physical possession Bg with a value of 1d. Bob has Ag with a value of 1d. Bob destroys Db. Alice now has Da and Bg giving her control over Ad and 2Bd. She can say to Bob: "Hey Bob, y'know, I feel like I'd like more for this, why don't you give me another 1d or I'll destroy your 2Bd and my Ad." I'm just saying that in the scenario presented, it seems like you have to ensure that Alice destroys her detonator first for the scenario to work correctly. Once Bob holds the only detonator, it's harder for him to justify ransoming Alice's single Ad since more of his value is at stake.
- oleganza 13y ago"In the box are Ad and 2Bd." The service is supposed to destroy only Bd, not 2Bd. And not separately, but both deposits at once when the deal is timed out, or both parties commit that they disagree with each other.