- Author: Alan Reiner (Armory)
- Orig Date: 04 April, 2012 First Draft: Sorting out ideas, and event sequences, handling details like who signs what when and where change outputs and fees fit into the equation.
Here's an example of Alice and Bob setting up the transaction. Bob posts an item on craigslist, knowing that unknown, untrusted Alice will try to buy it. In this case, Bob is the seller and will set the "Risk Deposit" (could also be "Escrow Deposit"). This can be negotiated by the buyer, but I expect that something like 15-25% would be standard and not a point of contention. Remember, buyer does not trust seller, and vice versa.