On Fri, Apr 19, 2013 at 06:48:11PM -0700, Jeremy Spilman wrote:
>  0. User and AP negotiate how much to escrow, who pays the fees, and how
> far in the future nLockTime will be set (how long user’s funds will be tied
> if AP doesn’t close the channel)
> 
>  1. User creates an unsigned TX1 with 1 or more inputs from user’s
> ‘listunspent’, change going back to user (if any), and a single output of
> ‘FundAmount’ with scriptPubKey of ‘2 PK1 OP_0 CHECKMULTISIG’, and sends to
> the AP

Note that with OP_DEPTH we can remove the small chance of the payee
vanishing and putting the funds in limbo:

    <height + n> OP_DEPTH OP_LESSTHAN
    IF 2 PK1 PK2 CHECKMULTISIG
    ELSE PK1 CHECKSIG
    ENDIF

Though that shows how to implement OP_DEPTH as a true soft-fork we're
probably best off doing it as part of a script v2 using the soft-fork
mechanism I outlined before when talking about fidelity-bonded ledgers.
(best to do MAST (merklized abstract syntax tree) support at the same
time)

-- 
'peter'[:-1]@petertodd.org