Dominant Assurance Contracts #7

Open
dominictarr opened this Issue Jan 9, 2014 · 4 comments

Comments

Projects
None yet
3 participants
@dominictarr
Owner

dominictarr commented Jan 9, 2014

feed open source is an iterative assurance contract.
@joshmh informed of a variant, the Dominant Assurance Contract
http://en.wikipedia.org/wiki/Assurance_contract#Dominant_Assurance_Contracts

It adds extra incentive to participate.
This could also be used to fund a salesperson/hustler/promoter to bring eyeballs to the project.

@NHQ

This comment has been minimized.

Show comment Hide comment
@NHQ

NHQ Jan 9, 2014

Collaborator

Neat. I think I get it: if I am the entrepreneur, I give somebody 1/10 btc to pledge 2 btc to the project. If I get 10 bitcoins total pledged, that persons contributes the two btc, and you (the project keeper) pay me 1.5 btc for my work. If I fail to get enough pledges, the others keep the 1/10 btc I gave them.

I wonder if this works equally if the entrepreneur risks they own money, or if the project-people finance the incentive.

Collaborator

NHQ commented Jan 9, 2014

Neat. I think I get it: if I am the entrepreneur, I give somebody 1/10 btc to pledge 2 btc to the project. If I get 10 bitcoins total pledged, that persons contributes the two btc, and you (the project keeper) pay me 1.5 btc for my work. If I fail to get enough pledges, the others keep the 1/10 btc I gave them.

I wonder if this works equally if the entrepreneur risks they own money, or if the project-people finance the incentive.

@dominictarr

This comment has been minimized.

Show comment Hide comment
@dominictarr

dominictarr Jan 10, 2014

Owner

I'd expect that usually, the entrepreneur and the project is the same person.
Usually, there is certainly a hard problem that the project has to select that person,
because it's a very different set of skills to programming.

Owner

dominictarr commented Jan 10, 2014

I'd expect that usually, the entrepreneur and the project is the same person.
Usually, there is certainly a hard problem that the project has to select that person,
because it's a very different set of skills to programming.

@bluntworks

This comment has been minimized.

Show comment Hide comment
@bluntworks

bluntworks Jan 10, 2014

Bitcoin also allows for this though not sure if anyone has put it into practice https://en.bitcoin.it/wiki/Contracts#Example_3:_Assurance_contracts

Bitcoin also allows for this though not sure if anyone has put it into practice https://en.bitcoin.it/wiki/Contracts#Example_3:_Assurance_contracts

@dominictarr

This comment has been minimized.

Show comment Hide comment
@dominictarr

dominictarr Jan 10, 2014

Owner

yes, I plan to use that, but that will require adding support in a bitcoin wallet app, and unfortunately, none have support for that yet. At the scale of the prototype stage, the honor system is sufficient.

Owner

dominictarr commented Jan 10, 2014

yes, I plan to use that, but that will require adding support in a bitcoin wallet app, and unfortunately, none have support for that yet. At the scale of the prototype stage, the honor system is sufficient.

Sign up for free to join this conversation on GitHub. Already have an account? Sign in to comment