We love thinking about how miniscript can solve real world problems. For instance, how could it help align the incentives for Outies and Innies?
a 🧵 about how #Bitcoin fixes Severance
(spoilers)
⚠️ Here's the problem:
💰️ Outie wants to get the big checks for working on the severed floor
☹️ Innie may be miserable, but has no way of telling Outie it's not worth it
💥 Incentives are not aligned
👇️
👛️ New wallet:
💡️ Lumon pays all severed employee salaries into 2-of-2 multisigs
🔑️ Outie gets a key
🔑️ Innie gets a key
❌️ Funds don't get transferred into Outie's spending wallet unless Innie signs
👇️
🤷♂️️ Innie doesn't have use for funds (nowhere to spend)
🗜 But Innie can refuse to sign
➡️ So Outie has incentive to pressure Lumon to pay attention to Innie demands
👋 What if Outie just decides to quit?
👇️
👨💼️ Innie wants to keep Outie coming back to work
👛️ New wallet:
💡️ Every year Lumon deposits bonus into a 2-of-2 with recovery key that can spend after 13 months
🔑️ Innie gets key
🔑️ Outie gets key
🔑️ Lumon gets recovery key
👇️
🚨️ If Innie and Outie don't agree to move bonus within 13 months, Lumon takes bonus
⏱️ But Innie can make Outie wait till next year's bonus hits
💡️ Lumon increases bonus size every year
💵️ Outie keeps coming back to get next bigger bonus
👇️
✌️ Outies and Innies have a reason to work together for mutual benefit
🤝️ Bitcoin is a means of aligning incentives for people in different circumstances
🤗️ Your Outie may not know how it feels to be an Innie, but they can still come to consensus (every ten minutes on average)