4

Is there a promise-to-pay functionality with no escrow where a seller can set a bitcoin address for buyers to send promise-to-pay bitcoins. Once seller fulfills his promise, the buyers will confirm theirs: if 50% or more of the buyers confirm their promise, seller gets the money.

Example: An author promises to write a book if readers pay him N bitcoins. Once author's account has N or more promise-to-pay bitcoins author publishes book. Once 50% (this percentage can be adjusted) or more payees confirm the money goes to the author.

o0'.
  • 5,240
  • 6
  • 39
  • 66
Jonh Smith
  • 41
  • 1
  • Title ,.... did you mean "buyers" not "sellers"? – Stephen Gornick Feb 24 '13 at 23:33
  • Remove the last sentence, since it was wrong and misleading: the whole point of such a service is because the author doesn't (can't!) trust buyers to hold to their promise. And it works despite that. – o0'. Feb 25 '13 at 14:12

1 Answers1

3

That is referred to as M of N transactions. So you have 6 buyers, and at least three must agree to the transaction for the funds to be delivered to the seller.

It's coming.

Community
  • 1
Stephen Gornick
  • 27,040
  • 12
  • 67
  • 141