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110 sats \ 1 reply \ @ek 20 Oct 2023 \ on: Operation Saylor - Episode 16/120 bitcoin
Do you want to live in pillar's citadel? You need to bond with the townhall so the city can trust you will be well-behaved. Joining your local masonic lodge? Bond to prove your commitment with the organization. Joining a criminal gang? Show your loyalty is with the gang and not with the state by bonding. Renting a house for your family? Bond with the landlord to keep your business together safe and sound.
So like deposits for everything, not just to rent something?
I also find the ideas around trust fascinating since money is a tool that was invented to minimize trust :)
But we somehow forgot that...
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0 sats \ 0 replies \ @pillar OP 20 Oct 2023
It is indeed somehow like a deposit. But it's better, richer and more flexible.
On the one hand, if Alice wants to rent Bob's flat, and Alice simple deposits $1,000 to him, she has to be concerned about the possibility that Bob keeps the deposit for himself and never pays back. If, instead, they do a 2-of-2, Alice doesn't need to worry herself about that. But Bob still has $1K of power over Alice.
And then you can have both parties putting part of the funds, you can jump to 2-of-3 and include arbiters, etc.
I think anyone who is looking at building businesses that live outside of the fiat system, both financially and legally, would probably appreciate the options and security that this kind of arrangements would provide.
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