Dialogue in regard to The Problem of Encumbrance:
Yes so you can make it so they have to interact etc. Now that is useful, and to the point, but it doesn’t solve the problem, because there is still some implied encumbrance.
So here’s the thing.
If that problem is described well enough, and the description encapsulates it…
Then I’d invoke this rule that is an extension of szabo’s “trusted third parties are security holes”…
But rather that trustworthy 3rd parties are NOT security holes.
We’ve talked about 3rd parties for insurance on the escrow which is also an example, and here we could have a 3rd party do reputation management, set up games, and police this behavior.
Because its not fatal to the security or integrity of the game/protocol, it CAN be outsourced
Now if i haven’t described the problem well enough or encapsulated it, then this is a moot point, but since its getting simpler I suspect we have…
and so this would be an interesting point, very interesting….
because people will NOT want to agree with it, but its necessary and I think its necessary of bitcoin as well. Where people might say “But satoshi, you have to have a secure wallet and secure exchanges”.
Wallet providers and exchanges “trusted” third parties…
but because they arose on a market they are trustworthy.
So if this is neat and tidy enough, there is a solution with “promissory notes” which I think are best called something like a “committed promissory” (to imply there cannot be a reneg), and the only draw back is that you can encumber the game (I call it encumber because its slightly different than a player actually timebanking every hand).
But there is an mvp there, that works among friendly players.
This means for example, if two well known pros want to play a hu match, they can play essentially rake free, provided they trust each other enough not to encumber the game.
In this example encumbering the game would be pretty silly and pointless!
Trust isn’t really a big issue, and if a players acts malicious the cost to the honest player is effectively zero.