0

Is there an obvious way that I can achive the following with Bitcoin?

  • An organizer sets a goal: an amount of bitcoins must be gathered within a specific amount of time
  • Random pledgers send an amount within specified boundaries (min/max amounts).
  • If the goal is reached within the specified amount of time, the organizer collects the pledges
  • If the goal is not reached within the specified amount of time, the pledges are returned to the pledgers

AFAIU the above model is similar to Mike Hearn's LightHouse project, however I cannot use this great platform for my project and on top of that I would like to be sure that I'm headed in the right direction, so any ideas and alternatives on how to achieve the above are more than welcome.

  • Why can't you use LightHouse, out of curiosity? – morsecoder Mar 17 '15 at 12:48
  • @StephenM347 because of this: bitcoin.stackexchange.com/questions/36003/… – Doug Peters Mar 17 '15 at 14:21
  • I see. Unfortunately, I suspect any solution you find will have the same limitations, though. Maybe you could do some sort of a multi-transaction fundraiser, where people commit to the latest transaction first all the way up to the first transaction (in the series of broadcasts) to get around the single transaction size limit and still be able to have multiple parties submit funds. – morsecoder Mar 17 '15 at 17:31
2

Have a look to https://bitcoin.org/en/developer-guide#term-sighash-anyonecanpay SIGHASH_ALL|SIGHASH_ANYONECANPAY

Organizer creates transaction with one output and none inputs. Any person can add his funds to this transaction. Once the needed amount is collected the transaction can be sent to a network.

An organizer sets a goal: an amount of bitcoins must be gathered within a specific amount of time

Seems to me that specifying amount of time is not possible

Random pledgers send an amount within specified boundaries (min/max amounts).

Fixed amount.

If the goal is reached within the specified amount of time, the organizer collects the pledges

Let us say "if the goal is reached one time the organizer sends this transaction to a network".

If the goal is not reached within the specified amount of time, the pledges are returned to the pledgers

Any pledger can re-spend his funds at any time before organizer creates valid transaction

  • I will have to go through the proposed docs and see if it fits my problem, thank you. – Doug Peters Mar 16 '15 at 19:29

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.