I see the command to transfer ownership of an asset’s issuance rights to another address; is it possible to place an order to sell such rights on the DEX?
Suppose I build up a business on the blockchain and then I want to retire and sell the business to someone else. The only way I see to do this would be to make a deal in real life: go out and find a buyer, sign papers, shake hands, and then the buyer has to trust me to issue the transfer-ownership command and I have to trust the buyer to send me the agreed-upon price.
If this could be made trustless (i.e., place an order on the DEX with issuance rights as the give-asset), it seems like it would dramatically strengthen the whole concept of Assets in Counterparty.
[quote author=biophil link=topic=124.msg732#msg732 date=1392915213]
I see the command to transfer ownership of an asset’s issuance rights to another address; is it possible to place an order to sell such rights on the DEX?
Suppose I build up a business on the blockchain and then I want to retire and sell the business to someone else. The only way I see to do this would be to make a deal in real life: go out and find a buyer, sign papers, shake hands, and then the buyer has to trust me to issue the transfer-ownership command and I have to trust the buyer to send me the agreed-upon price.
If this could be made trustless (i.e., place an order on the DEX with issuance rights as the give-asset), it seems like it would dramatically strengthen the whole concept of Assets in Counterparty.
[/quote]
There is no way to sell asset names, nor is there a way to make asset name transference completely trustless. One could, however do the following:
Let’s suppose Bob has created the asset name ASSET, and John would like to buy issuing rights for ASSET from Bob for 10 XCP. Suppose, further, that John and Bob don’t really trust each other, but both of them trust Henry a lot, and will allow him to act as “escrow” for the trade between them. There are two ways to do this could be done:
1. Bob simply transfers issuance rights to Henry, and, once John sends Henry 10 XCP, Henry transfers issuance rights to John and sends 10 XCP to Bob.
2. Henry puts out a broadcast with the text “Bob transfers Henry issuance rights re: ASSET. 1=T 2=F.” Then Bob makes an [tt]Equal/NotEqual[/tt] bet, such that [tt]bet-type=Equal[/tt], [tt]target-value=1[/tt], [tt]wager=.0000001[/tt], [tt]counterwager=10[/tt] [tt]deadline=DEADLINE[/tt]. John can then match this bet: [tt]bet-type=NotEqual[/tt], [tt]target-value=1[/tt]. [tt]wager=10[/tt]. [tt]countetwager=0000001[/tt]. The protocol will then match them, and if Bob transfers issuance rights to John, then Henry will publish [tt]value=1[/tt], and Bob will win the bet and get 10.0000001 XCP. If however he does not transfer issuance rights by the time DEADLINE passes, Henry will publish [tt]value=2[/tt] and John will win the bet and get 10.0000001 XCP.