ZmnSCPxj [ARCHIVE] on Nostr: 📅 Original date posted:2019-08-05 📝 Original message:Good morning Chris, > This ...
📅 Original date posted:2019-08-05
📝 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
📝 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