{"type":"rich","version":"1.0","author_name":"npub13r7ua6p7uk2et9m3v40zr5t3qf8gu9mytng7387k7dx0587hz2lqkz3z25","author_url":"https://nostr.ae/npub13r7ua6p7uk2et9m3v40zr5t3qf8gu9mytng7387k7dx0587hz2lqkz3z25","provider_name":"njump","provider_url":"https://nostr.ae","html":"📅 Original date posted:2014-03-07\n📝 Original message:I think a reputation network is more complicated than is needed for\nthis. This can be solved by the market.\n\nWhat is needed is a simple method for each individual user to mark\ncertain merchant as trusted. For example, if your device gets an\nuntrusted payment request, it'll make a small sound, light up the screen\nand ask the user to authorize the payment. The user then has the choice\nof adding the merchant to trust list, authorizing just a single\ntransaction or not paying (and perhaps adding to the user's publicly\nshared untrusted list?).\n\nThis way, even lacking a trust architecture, only the first payment to a\nmerchant needs to take several seconds. If trust is granted, the next\npayments will be swift.\n\nThe lack of chargebacks presents a clear risk to the customer, though,\nso a need for a third party that can keep the merchants honest exists.\nThis opens up markets for transaction insurance companies. Even though\nbitcoin transactions are final, if a transaction insurance company\noffers to cover your losses in the event of fraudulent charge, the risk\nis practically eliminated.\n\nSuch an insurance company would have a strong incentive to make sure the\nmerchants they insure for behave. Otherwise they'll suffer the losses. I\nthink this would result in an equally trustworthy but more decentralized\nsystem than with credit cards.\n\n- Joel\n\nOn 06.03.2014 16:20, Brooks Boyd wrote:\n\u003e\n\u003e\n\u003e On Mar 6, 2014 3:47 AM, \"Mike Hearn\" \u003cmike at plan99.net\n\u003e \u003cmailto:mike at plan99.net\u003e\u003e wrote:\n\u003e \u003e\n\u003e \u003e I just did my first contactless nfc payment with a MasterCard. It\n\u003e worked very well and was quite delightful - definitely want to be\n\u003e doing more of these in future. I think people will come to expect this\n\u003e kind of no-friction payment experience and Bitcoin will need to match\n\u003e it, so here are some notes on what's involved.\n\u003e \u003e\n\u003e \u003e 3) Have some kind of decentralised reputation network. I spent some\n\u003e time thinking about this, but it rapidly became very complicated and\n\u003e feels like an entirely separate project that should stand alone from\n\u003e Bitcoin itself. Perhaps rather than try to make a global system,\n\u003e social data could be exchanged (using some fancy privacy preserving\n\u003e protocols?) so if your friends have decided to trust seller X, your\n\u003e phone automatically trusts them too.\n\u003e\n\u003e A reputation network might be an interesting idea, or several\n\u003e different networks with different curators (to prevent complete\n\u003e centralization), like how the US credit score system has three main\n\u003e companies who track your score. Something like a GPG ring of trust,\n\u003e with addresses signing other addresses would work well, if some sort\n\u003e of Stealth address or HD wallet root was the identity gaining the\n\u003e reputation, then address re-use wouldn't have to be mandatory.\n\u003e\n\u003e\n\u003e\n\u003e ------------------------------------------------------------------------------\n\u003e Subversion Kills Productivity. Get off Subversion \u0026 Make the Move to Perforce.\n\u003e With Perforce, you get hassle-free workflows. Merge that actually works. \n\u003e Faster operations. Version large binaries.  Built-in WAN optimization and the\n\u003e freedom to use Git, Perforce or both. Make the move to Perforce.\n\u003e http://pubads.g.doubleclick.net/gampad/clk?id=122218951\u0026iu=/4140/ostg.clktrk\n\u003e\n\u003e\n\u003e _______________________________________________\n\u003e Bitcoin-development mailing list\n\u003e Bitcoin-development at lists.sourceforge.net\n\u003e https://lists.sourceforge.net/lists/listinfo/bitcoin-development\n\n-------------- next part --------------\nAn HTML attachment was scrubbed...\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20140307/335b10cd/attachment.html\u003e"}