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December 01, 2012, 08:50:01 AM |
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Bob wants to gamble on various with tiny skates.
Bob makes a special condensed payment of 0.01BTC. Bob signs the transaction with the address's private key. SatoshiPokerz acknowledges this transaction, and signs it with their address's transaction fee.
Bob then "transfers" 0.001 btc to SatoshiPokerz. Bob signs the amount + timestamp. SatoshiPokerz signs that message.
Bob loses, and decides to play Satoshiwheelz instead. Bob then makes a special condensed payment with the same 0.01 BTC to Satoshiwheelz. Bob, SatoshiPokerz and Satoshiwheelz then signs 0.009 available. (SatoshiPokerz will check the transfers, and will only sign if the amount claimed by bob is 0.009 btc).
Bob plays 0.001 btc in Satoshiwheelz. This message is signed by all 3 parties. He loses. [etc etc etc].
Note that all of the microtransactions are NOT sent through out the network. They are direct peer to peer. Let's say Bob ends up with 0.015 btc in total (after playing a lot) and decides to withdraw. All bob needs to do is push out one transaction to the network, include all of the messages. Miners verify that they are signed properly.
Unlimited transactions, Bob can even send 1 satoshi a transaction (1) without fees (2) without bloating the blockchain. Just two transactions on the network.
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