...
Anything could be those use cases. For example some escrow service or a whole signature campaign which pays out per posts could be created.
Anything you can program can be coded into a smart contract.
yup, here we go! thx so much, fully agree
This is why I raised this question. The trolls here seem to think, that smart contracts = turing complete machine, is fancy coding language (which removes me from the burden of using my brain), is ETHEREUM transported into Bitcoin, cause flippening will happen (haha, what a laugh!!!), and much more stupid reasons. Those noobs seem to not even know what they are talking about...
I should stop ranting here, and show how to provide s.th. to the community (still hoping that some people come out of there noob zone and start to learn):
BITCOIN HAS ALREADY SMART CONTRACTS!
Examples and use cases:
e.g. the link you mentioned (
https://github.com/bitcoin/bips/blob/master/bip-0112.mediawiki):
IF
2 <Alice's pubkey> <Bob's pubkey> <Escrow's pubkey> 3 CHECKMULTISIG
ELSE
"30d" CHECKSEQUENCEVERIFY DROP
<Alice's pubkey> CHECKSIG
ENDIF
or something like this:
if
<merchant pubkey> checksigverify
else
<timestamp> checklocktimeverify drop
endif
<customer pubkey> checksig
or more precise:
n-of-m multisig is the easiest form of a contract.
escrow service is the next layer (as in examples above).
And then we can create very specific constructs like:
CHECKSEQUENCEVERIFY: lock some Satoshis until a specific number of block have passed, before I can use them, and if I really, really need the coins before, have a 2-3 multisig to release them immedeatly
CHECKLOCKTIMEVERIFY: lock some Satoshis until a specific number of block appears (aka my son is 18 years old...), but use a 2-3 multisig to release the funds in case funds are required earlier
It goes even up to the point where you can create tx spends, where the hash of a condition must be equal to a previously defined value.
I see some limitations when trying to use Oracles (aka data from "outsides"), maybe data from exchanges, or from real live (in case of death).
Some more example in Andreas' book "Mastering Bitcoin" (second edition) in the chapter "Timelocks".
or here in the forum
https://bitcointalk.org/index.php?topic=1300723.0https://bitcointalk.org/index.php?topic=1558207.0https://bitcointalk.org/index.php?topic=1952248.0or here:
https://www.reddit.com/r/Bitcoin/comments/4kit49/is_it_safe_to_use_cltv_for_recurring_payments/https://www.reddit.com/r/Bitcoin/comments/4p4klg/bitcoin_core_project_the_csv_soft_fork_has/d4i01he/and here:
https://en.bitcoin.it/wiki/Timelockhttps://en.bitcoin.it/wiki/ContractsAnd look at the way how exchanges store much of the funds into cold wallets automatically. These are also smart contracts.
Also the scripting language allows up to 10 kilobytes of code (!), to create smart contracts.
SO YES; BITCOIN HAS SMART CONTRACTS!I haven't seen a single example by noobs, what a smart contract is, but a lot about there limitations ("scripting is dumb, cause usage of brain to learn scripting language is too complicated for me"). All are complaining that things need to get improved, without saying, what does not work in bitcoin. This is reddit niveau. Reddit it is the right forum to complain, without providing any efforts to improve bitcoin. Even better, there you can improve your reputation by posting much of this shit. Go there... ooops, I wanted to stop ranting
I think I want to say, look at the examples, tell us what you want to do, what you think is missing, and how we can help to implement smart contracts.
