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Author Topic: Assurance contracts  (Read 1808 times)
SamBull
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November 17, 2015, 06:33:48 PM
 #1

In the wiki, there is an example of assurance contracts. https://en.bitcoin.it/wiki/Contract#Example_3:_Assurance_contracts

It says: "that the good will be created if at least 1000 BTC is raised."

But, a following step is: "the output value is set to 1000 BTC."

Surely this means that the creator can only claim exactly 1000 BTC from the incoming transactions. If they received 2000BTC they could presumably create 2 transactions of 1000 BTC each. But, if they received 1900 BTC, they would be able to receive only 1000 BTC. If they created the transaction with all 1900 BTC, I assume the other 900 BTC would have no output and would be lost as mining fees.

Am I right in this analysis? Is there a way to actually allow the creator to receive all bitcoins pledged?
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Luke-Jr
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November 17, 2015, 07:26:21 PM
 #2

Your assessment is correct, but the language does not imply the recipient will receive more than 1000 BTC, only that nothing will be sent unless >=1000 BTC is raised.
Feel free to make it clearer.

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