Irrationality, Extortion, or Trusted Third-parties: Why it is Impossible to Buy and Sell Physical Goods Securely on the Blockchain · HackerPapers discussions

Irrationality, Extortion, or Trusted Third-parties: Why it is Impossible to Buy and Sell Physical Goods Securely on the Blockchain — mentioned by FabHK

Mon, 08 Dec 2025 16:34:03 GMT

Read Irrationality, Extortion, or Trusted Third-parties: Why it is Impossible to Buy and Sell Physical Goods Securely on the Blockchain. Or just read the title, it has the main point. http://arxiv.org/abs/2110.09857

Paper and discussion history. A mention is not an endorsement.

Irrationality, Extortion, or Trusted Third-parties: Why it is Impossible to Buy and Sell Physical Goods Securely on the Blockchain — mentioned by FabHK

Mon, 08 Dec 2025 16:15:53 GMT

> Spending money usually involves getting a good or service in return, which inherently requires "trust" Indeed. Good paper driving the point home: Irrationality, Extortion, or Trusted Third-parties: Why it is Impossible to Buy and Sell Physical Goods Securely on the Blockchain http://arxiv.org/abs/2110.09857

Paper and discussion history. A mention is not an endorsement.

Irrationality, Extortion, or Trusted Third-parties: Why it is Impossible to Buy and Sell Physical Goods Securely on the Blockchain — mentioned by FabHK

Sun, 14 Sep 2025 17:06:55 GMT

Of course, if the sender can cancel transactions at their discretion, that enables another class of frauds. The solution has to lie in some trusted centralized party outside the payment system [0]. Chia can't solve this. A banking system and legal system can. [0] Goharshady, A. K. (2021). Irrationality, Extortion, or Trusted Third-parties: Why it is Impossible to Buy and Sell Physical Goods Securely on the Blockchain (arXiv:2110.09857). http://arxiv.org/abs/2110.09857

Paper and discussion history. A mention is not an endorsement.

Irrationality, Extortion, or Trusted Third-parties: Why it is Impossible to Buy and Sell Physical Goods Securely on the Blockchain — mentioned by FabHK

Sat, 05 Jul 2025 11:36:53 GMT

Not to mention the fact that you can hold Bitcoin trustlessly, and you can transfer it to someone else trustlessly, but then you have to trust that they send to you in return what they promised. See Goharshady, Amir Kafshdar: Irrationality, Extortion, or Trusted Third-Parties: Why It Is Impossible to Buy and Sell Physical Goods Securely on the Blockchain. arXiv:2110.09857, arXiv, 19 Oct. 2021. arXiv.org, http://arxiv.org/abs/2110.09857.

Paper and discussion history. A mention is not an endorsement.

Irrationality, Extortion, or Trusted Third-parties: Why it is Impossible to Buy and Sell Physical Goods Securely on the Blockchain — mentioned by FabHK

Thu, 08 Jun 2023 06:19:20 GMT

There’s a neat paper showing that you can have trustless decentralised exchanges only for on-chain assets, ie exchanging one crypto for another. Real world assets (including fiat) cannot be securely bought on blockchains. Irrationality, Extortion, or Trusted Third-parties: Why it is Impossible to Buy and Sell Physical Goods Securely on the Blockchain https://arxiv.org/abs/2110.09857

Paper and discussion history. A mention is not an endorsement.

Irrationality, Extortion, or Trusted Third-parties: Why it is Impossible to Buy and Sell Physical Goods Securely on the Blockchain — HN submission

Wed, 20 Oct 2021 06:25:43 GMT

Why It's Impossible to Buy and Sell Physical Goods Securely via Blockchain [pdf]

5 points; 0 discussion replies on HN. Paper and source history. A submission is not an endorsement.