New Type of Arbitration | Hacker News Reader

New Type of Arbitration

dcoin.me

24 pointsc-darwin7 comments

I've been hoping for things like this to start appearing.

The difficulty with getting these things going is getting enough of a user base to prime the pump. Before major arbitration decisions can be made, people need to start off arbitrating little things. Like being a referee for a small game tournament with friends.

There's a lot of poor grammar, for instance:

"Mining in Dcoin is not usual familiar mining we got used to with other cryptocurrency."

I'm having trouble parsing that sentence and can't tell if you mean mining is similar to other currencies or different.

Plenty more grammar mistakes... (you should get an English editor and make sure to get an arbiter with high dcoin reputation to protect your transaction:) ).

Also, it is always nice to have localized websites...us americans aren't used to seeing decimals reversed with thousand separators, for instance: "0,0004%"

>>"Mining in Dcoin is not usual familiar mining we got used to with other cryptocurrency." >> I'm having trouble parsing that sentence and can't tell if you mean mining is similar to other currencies or different.

Mining with Dcoin is not the mining everyone is used to dealing with in context of other cryptocurrencies.

We will correct the mistakes. Thank you for your remarks.

When arbitrators/escrow-agents compete on fees, it drives fees lower as they attempt to undercut each other. That makes retirement attacks more likely (do a bunch of honest biz to get a good rating with the intention to get a big payoff from a final "score"). Its similar to the tragedy of the commons worries about miner revenue from transaction fees.

I think the better model is a more "decentralized oracle" design, perhaps something like TrustDavis or TruthCoin. With these "choose your arbitrator/oracle" market designs, it's a never ending game of distrust and whack-a-mole.

Indeed. Where any real amounts of money are involved, unwary arbitrators can offer their services below the cost of insurance.

It will be difficult to get a dishonest reputation, because statistics gives the information on miners (http://en.dcoinwiki.com/Miner). A buyer and a seller should trust the same arbitrators. Which means that each and every arbitrator should earn not only buyers' trust but sellers' too. Eventually, I think, there will be a few respectful artbitrators, and most of buyers and majority of sellers will trust them.

"Basic Principals" -> "Basic Principles"

Fixed. Thanks

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