@petertoddbtc @NickSzabo4 And the non merged-mined version?
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@Numisight@NickSzabo4@socrates1024 A fidelity bond is a crypto enforced bond, not legally enforced. Anonymous parties can be held to them.
@petertoddbtc @Numisight @socrates1024 Crypto fidelity bonds interesting. Link to math?
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@NickSzabo4@Numisight@socrates1024 Fidelity bonded banking writeup: http://bit.ly/1pwsZI9 -
@NickSzabo4 Hmm, linking bitcointalk seems broken. Just google "fidelity bonded banking Bitcoin" and go to the bitcointalk hit. - 1 more reply
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@NickSzabo4@Numisight@socrates1024 No math involved: throw away bitcoins to make a digital ID expensive w/ protocols with fraud proofs.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@NickSzabo4@petertoddbtc@socrates1024 Crypto fidelity bonds smell turing complete to me. Perhaps I am looking at it the wrong way. -
@Numisight@NickSzabo4@socrates1024 Indeed you are. You wrote the protocol to make it fraud proof compatible w/o Turing completeness. -
@petertoddbtc@NickSzabo4@socrates1024 But then how do I claim my loss against the posted bond? to be made whole? -
@Numisight@NickSzabo4@socrates1024 That's where improvements to the scripting system come into: proof-of-fraud to claim coins. -
@petertoddbtc@NickSzabo4@socrates1024 So unless the bond covers 100% there is logic needed. This makes it basically 200% reserve. -
@Numisight@NickSzabo4@socrates1024 Yeah, >100% reserve tends to be easier to make work.
End of conversation
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