Post
Topic
Board Development & Technical Discussion
Re: [ANNOUNCE] Micro-payment channels implementation now in bitcoinj
by
poiuytr4
on 10/07/2013, 22:23:33 UTC
As it's a fair deal, you sign it and send it to the merchant.
Now the merchant is compensated and grants you the 10ct. service.

Now you feel betrayed by the merchant and publish the very first full reimbursement but the merchant has time until the timeout of A expires to publish any lower reimbursement that you signed and that overrules all prior Bs.

 Because bitcoin is a non refundable transaction there is still a question of trust. If there is no escrow between you and the merchant then which transaction takes place first. In your case the merchant is paid before he grants you the 10c service. Or should he grant you the service before he is paid the 10c?
 It probably won't be an issue in reality because the transactions are small and somebody will be willing to take the first step.
 
 What about a micro payment exchange?

 The low trust payment processor idea seems to me to be less useful idea than a normal payment processor because they usually have to have a higher level of trust with the merchant and the buyer than they have between themselves and often are needed to turn a non refundable transaction into a refundable transaction.
 I'm not sure if this is what is suggested.

 I like the idea of paying to not see adverts. Where will the publishers loyalties lie? Do you place really annoying adverts on your site so that everybody pays not to see them or place great adverts on your site so that you get lots of ppc or commission. Will publishers be tempted to place more and more adverts in order to win both ways? In the end the customer can choose to pay the premium fee to see no adverts or just a small fee and see the adverts that would have been shown normally before the system was introduced. Smiley