Quote from: sacarlson on July 13, 2011, 12:47:58 PM

I didn't read all the post in your article so I might have missed something but my present MultiCoin does support P2P multisign escrow. but at this time I can't get the Bitcoin group to be a part of it. I am already testing it in the weeds proto test chain and will fully implement escrow in beertokens when we have decided on a security model of the new block chain. I think that is what would be needed to start using your dirivitive escrow contract as I might now call it. You can see more details about my escrow features in my article at: http://forum.bitcoin.org/index.php?topic=24209.0 and as I see you are also looking at models of new possible currency control method what better way than to control your own in a smaller group of more trusted friends or group you have more faith in than a government. I see the future of a fractionating currency flood that will have to be controled by a group of people not by algorithms in a program that we can't predict the outcome of. contracts with asset backing will also help to stablelize as long as the assets are in place to support the outcome.

I don't share your views on attempting to manage the coin-beer exchange rate or the use of mining lisences. I would prefer a free float and free entry. Nevertheless, I applaud your initiative in experimenting with alternatives. Experimentation eventually leads to interesting things. I also thing that p2p multisign escrow is a great feature.

I'll summarize an important point that you may have missed.

For long-term p2p escrow to be efficient, tradeable bondcoins are necessary. These are mined securities that are accounted for separately until they reach a specified maturity date. Once the bondcoins mature, they become indistinguishable from regular coins. Bondcoins can be used to back long-term p2p contracts. When long-term p2p contracts are backed with regular coins, contracting parties incur an implicit tax because regular coins do not pay interest while in escrow. Bondcoins, on the other hand continue to pay interest while in escrow. The survey I posted here suggests that the market discounts future payments in bitcoin heavily, and accordingly that the implicit tax associated with forgone interest is substantial (see http://forum.bitcoin.org/index.php?topic=25705.0).

In short, if you introduce p2p escrow it would be extremely useful to introduce tradeable bondcoins as well. The two features complement each other.