Re: [bitcoin-dev] Recurring bitcoin/LN payments using DLCs

From: Jeremy Rubin <jeremy.l.rubin@gmail•com>
To: ZmnSCPxj <ZmnSCPxj@protonmail•com>,
	 Bitcoin Protocol Discussion
	<bitcoin-dev@lists•linuxfoundation.org>
Cc: "dlc-dev@mailmanlists•org" <dlc-dev@mailmanlists•org>
Subject: Re: [bitcoin-dev] Recurring bitcoin/LN payments using DLCs
Date: Sun, 6 Mar 2022 00:14:51 +0000	[thread overview]
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This may be of interest:

https://github.com/sapio-lang/sapio/blob/01830132bbbe39c3225e173e099f6e1a0611461c/sapio/examples/subscription.py

Basically, a (old, python) sapio contract whereby you can make cancellable
subscriptions that are essentially a time based autopay scheme whereby
cancellation gives time for the receiver to claim the correct amount of
money.

--
@JeremyRubin <https://twitter.com/JeremyRubin>

On Sat, Mar 5, 2022 at 10:58 PM ZmnSCPxj via bitcoin-dev <
bitcoin-dev@lists•linuxfoundation.org> wrote:

> Good morning Chris,
>
> > I think this proposal describes arbitrary lines of pre-approved credit
> from a bitcoin wallet. The line can be drawn down with oracle attestations.
> You can mix in locktimes on these pre-approved lines of credit if you would
> like to rate limit, or ignore rate limiting and allow the full utxo to be
> spent by the borrower. It really is contextual to the use case IMO.
>
> Ah, that seems more useful.
>
> Here is an example application that might benefit from this scheme:
>
> I am commissioning some work from some unbranded workperson.
> I do not know how long the work will take, and I do not trust the
> workperson to accurately tell me how complete the work is.
> However, both I and the workperson trust a branded third party (the
> oracle) who can judge the work for itself and determine if it is complete
> or not.
> So I create a transaction whose signature can be completed only if the
> oracle releases a proper scalar and hand it over to the workperson.
> Then the workperson performs the work, then asks the oracle to judge if
> the work has been completed, and if so, the work can be compensated.
>
> On the other hand, the above, where the oracle determines *when* the fund
> can be spent, can also be implemented by a simple 2-of-3, and called an
> "escrow".
> After all, the oracle attestation can be a partial signature as well, not
> just a scalar.
> Is there a better application for this scheme?
>
> I suppose if the oracle attestation is intended to be shared among
> multiple such transactions?
> There may be multiple PTLCs, that are triggered by a single oracle?
>
> Regards,
> ZmnSCPxj
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