š
Original date posted:2019-08-05
š Original message:Good morning Chris,
> This could be worked around by honest makers because they
> can consolidate TXOs on the blockchain, which rented TXO owners can't do
> because the TXOs are owned by different people.
Would it not be possible the below?
* I rent some funds from Dmitry.
I agree to pay him 0.5 BTC for this service of putting up 50BTC from Dmitry UTXO.
* I also own 50BTC myself in a separate UTXO.
* We create a funding transaction paying out to a Schnorr MuSig output that is 2-of-2 between us.
This spends Dmitry UTXO 50 BTC and my UTXO 50BTC.
We only create this yet and do not sign.
* We create a backout transaction, probably with `nLockTime`, paying out 50.5BTC to Dmitry and 49.5BTC to me.
This spends the funding transaction.
We sign this using MuSig.
* After we exchange the signatures of the backout transaction, we exchange signatures for the funding transaction.
* Now we have a common 100BTC UTXO (indistinguishable from other Schnorr single-sig UTXOs) that can be used as fidelity bond for me.
This is the output of the funding transaction.
The above can be scaled up so I can rent arbitrary amounts of coin from many different people, who are assured of getting their funds back, in exchange for a fidelity bond / advertisement, and thus greatly destroying the properties of the V^2 tweak.
(The ability to have shared ownership of UTXOs is a powerful feature of Bitcoin, and backs its ability to scale, as witnessed with Lightning Network and channel factories.)
Regards,
ZmnSCPxj
ZmnSCPxj [ARCHIVE] /
npub1g5ā¦3ms3l
2023-06-07 18:19:56
in reply to nevent1qā¦x4x6
Author Public Key
npub1g5zswf6y48f7fy90jf3tlcuwdmjn8znhzaa4vkmtxaeskca8hpss23ms3lPublished at
2023-06-07 18:19:56Event JSON
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"content": "š
Original date posted:2019-08-05\nš Original message:Good morning Chris,\n\n\n\u003e This could be worked around by honest makers because they\n\u003e can consolidate TXOs on the blockchain, which rented TXO owners can't do\n\u003e because the TXOs are owned by different people.\n\nWould it not be possible the below?\n\n* I rent some funds from Dmitry.\n I agree to pay him 0.5 BTC for this service of putting up 50BTC from Dmitry UTXO.\n* I also own 50BTC myself in a separate UTXO.\n* We create a funding transaction paying out to a Schnorr MuSig output that is 2-of-2 between us.\n This spends Dmitry UTXO 50 BTC and my UTXO 50BTC.\n We only create this yet and do not sign.\n* We create a backout transaction, probably with `nLockTime`, paying out 50.5BTC to Dmitry and 49.5BTC to me.\n This spends the funding transaction.\n We sign this using MuSig.\n* After we exchange the signatures of the backout transaction, we exchange signatures for the funding transaction.\n* Now we have a common 100BTC UTXO (indistinguishable from other Schnorr single-sig UTXOs) that can be used as fidelity bond for me.\n This is the output of the funding transaction.\n\nThe above can be scaled up so I can rent arbitrary amounts of coin from many different people, who are assured of getting their funds back, in exchange for a fidelity bond / advertisement, and thus greatly destroying the properties of the V^2 tweak.\n\n(The ability to have shared ownership of UTXOs is a powerful feature of Bitcoin, and backs its ability to scale, as witnessed with Lightning Network and channel factories.)\n\nRegards,\nZmnSCPxj",
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