I take that back, this is exactly what I was thinking of. You rock!
is it?
you are not locking anything with bitcoin, from what i can tell by looking at that site you are locking a file in their centralized database and then sell a link to that centralized database where they receive bitcoin payments to release the file then take their cut and deduct all the transaction fees and then give you what is left!
that is practically the most centralized way you can ever do things and you might as well also get paid in fiat
Yeah, after looking at it a bit more that's exactly what it looks like they're doing. The sit is pretty much just file arbitrage, so I take it back that it's exactly what I meant.
But how do you pay for a digital item and be guaranteed that someone else won't just copy pasta this item for free? Because if the item is somehow locked and can only be opened by someone with bitcoin, then you can actually transfer digital goods for bitcoin, or whatever, and they will hold that value without the risk of someone just copying it for free. I feel like there are probably alt projects that are trying to do this, but I haven't seen anything like that yet.