Monday, January 4, 2021

Spectre proofed bitcoin futures

 For some ideas.

Make a contract that takes a bitcoin and resells it in dollars as an option in a year.  Or the visa versa, depending on your inclinations. Anyone can put up these kinds of options. All the traders have a public key verification method. No human knows the bitcoin key, and only the fiat banker can alter the account. This is a secure contract, it has market place in and out. Time limited, count limited.

The options cold be tradeable, within the contract. keep  a short chiain for the duration and allows swaps. The contract has a fair queue mechanism, and collects a fee, in the contract. Split the fee. We get stable Btc, in tiny chunks and short ledger queues, with proof of stake. There is risk, so what.

Self solved. Once the contract has acquired the original asset, its secret key can go to cold storage. The contract provable, all parties using it can verify their stake fairly, always, on their own. The residual fees and losses/gains remain for some human, via the fiduciary. We are still stuck with a trusted banker, the keys are being, no one may pull the plug.

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