📅 Original date posted:2022-03-05
📝 Original message:Hey ZmnSCPxj,
I thought about this for a few days and I think you are right. In the case
of recurring payments this is identical to nLocktime. When doing recurring
payments with this scheme, you probably want to rate limit subsequent UTXOs
_with_ nlocktimes to make sure a malicious Netflix can't withdraw 12 month
so of subscriptions by attesting with their oracle 12 times.
I think this proposal describes arbitrary lines of pre-approved credit from
a bitcoin wallet. The line can be drawn down with oracle attestations. You
can mix in locktimes on these pre-approved lines of credit if you would
like to rate limit, or ignore rate limiting and allow the full utxo to be
spent by the borrower. It really is contextual to the use case IMO.
-Chris
On Fri, Mar 4, 2022 at 2:22 AM ZmnSCPxj <ZmnSCPxj at protonmail.com> wrote:
>
> Good morning Chris,
>
> Quick question.
>
> How does this improve over just handing over `nLockTime`d transactions?
>
>
> Regards,
> ZmnSCPxj
>
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Chris Stewart [ARCHIVE] /
npub1u0…dnn03
2023-06-07 23:05:09
in reply to nevent1q…76qc
Author Public Key
npub1u03cz099kt69z9awg232rjvlt34azukpzkkvy5uqv64dj9j5fqtshdnn03Published at
2023-06-07 23:05:09Event JSON
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"content": "📅 Original date posted:2022-03-05\n📝 Original message:Hey ZmnSCPxj,\n\nI thought about this for a few days and I think you are right. In the case\nof recurring payments this is identical to nLocktime. When doing recurring\npayments with this scheme, you probably want to rate limit subsequent UTXOs\n_with_ nlocktimes to make sure a malicious Netflix can't withdraw 12 month\nso of subscriptions by attesting with their oracle 12 times.\n\nI think this proposal describes arbitrary lines of pre-approved credit from\na bitcoin wallet. The line can be drawn down with oracle attestations. You\ncan mix in locktimes on these pre-approved lines of credit if you would\nlike to rate limit, or ignore rate limiting and allow the full utxo to be\nspent by the borrower. It really is contextual to the use case IMO.\n\n-Chris\n\nOn Fri, Mar 4, 2022 at 2:22 AM ZmnSCPxj \u003cZmnSCPxj at protonmail.com\u003e wrote:\n\n\u003e\n\u003e Good morning Chris,\n\u003e\n\u003e Quick question.\n\u003e\n\u003e How does this improve over just handing over `nLockTime`d transactions?\n\u003e\n\u003e\n\u003e Regards,\n\u003e ZmnSCPxj\n\u003e\n-------------- next part --------------\nAn HTML attachment was scrubbed...\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20220305/94c8f310/attachment.html\u003e",
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