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So, this is the hypothetical scenario, barring some details.
I charge 100K Sats for delivering a coding lesson online, for someone who runs some sort of virtual academy (in a different continent). We just recently connected over the internet and clicked, but...we do not know each other very well, which is to say, there is not a long established business relationship.
He can pay me the amount in lightning or on-chain address, but the required mutual trust is not totally there yet. He can pay, and I may not show up to deliver the lesson (at a specified time and date), or I can deliver the lesson, and he can cut me off.
We are not doing it at a scale where we will involve lawyers to sign contracts, and considering the geographical distance it is even more complicated. So it seems like an ideal scenario for some kind of smart contract and escrow to fill the gap?
What platform, or website would be the cheapest to do it, without going through a long set-up process or expensive subscription? Also, we both want to keep it KYC free as much as possible (no passport, or identity upload and the transaction amounts stay private as much as possible).
Also, is there any other stacker news territory where this question fits better?
Read more about HOLD invoices.
Here is a good thread: #1091186 This is a good question that should be more discussed on SN with more wallet devs etc to see if it can be easily implemented in more apps.
SN is already using it.
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121 sats \ 0 replies \ @AGORA 11h
@spiderman, supertestnet's HODLcontracts tool is not really easy to setup, you can try, it will need a LND node, Python and some other dependencies.
I suggest you to try something easier like 🤠 Cowboy Escrow ⭐ at https://4g0r4.github.io/cowboy-escrow/
It will lock the funds in an ad-hoc onchain multisig, and allow to sig with 2-of-3 nostr keys that created it. So both of you only have to input a npub and an onchain bitcoin address.
You can optionally add our npub if you need an escrow so we can intervene in case of dispute.
We will launch soon our service free of charge, so stackers can trade safely in trustless scenarios like this. Your feedback will be really useful.
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