Hello ZmnSCPxj,
Renting out fidelity bonds is an interesting idea. It might happen in
the situation where a hodler wants to generate yield but doesn't want
the hassle of running a full node and yield generator. A big downside of
it is that the yield generator income is random while the rent paid is a
fixed cost, so there's a chance that the income won't cover the rent.
JoinMarket takers since the start have checked that a fidelity bond
doesn't appear twice. The technique doesn't deserve a section in the BIP
because this BIP is only about specifying the wallets that hold fidelity
bond UTXOs for makers, not takers which receive fidelity bond messages.
In JoinMarket this is done in this code here:
https://github.com/JoinMarket-Org/joinmarket-clientserver/blob/6b05f65260a487cd22f175ba64d499fbe8122530/jmclient/jmclient/taker.py#L1020-L1021
Best,
CB
On 01/05/2022 12:41, ZmnSCPxj wrote:
Good morning again Chris,
I wonder if there would be an incentive to *rent* out a fidelity bond, i.e. I
am interested in application A, you are interested in application B, and you
rent my fidelity bond for application B.
We can use a pay-for-signature protocol now that Taproot is available, so that
the signature for the certificate for your usage of application B can only be
completed if I reveal a secret via a signature on another Taproot UTXO that
gets me the rent for the fidelity bond.
I do not know if this would count as "abuse" or just plain "economic
sensibility".
But a time may come where people just offer fidelity bonds for lease without
actually caring about the actual applications it is being used *for*.
If the point is simply to make it costly to show your existence, whether you
pay for the fidelity bond by renting it, or by acquiring your own Bitcoins and
foregoing the ability to utilize it for some amount of time (which should cost
closely to renting the fidelity bond from a provider), should probably not
matter economically.
You mention that JoinMarket clients now check for fidelity bonds not being used
across multiple makers, how is this done exactly, and does the technique not
deserve a section in this BIP?
Regards,
ZmnSCPxj
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