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It is kind of awkward that a business that exists to help you get things done is paid whenever you fail.
Doctors and pharmaceutical companies are supposed to help you be healthy, but make more if you're ill long-term. Banks, credit card companies, and brokerages all make more money if you make poor financial decisions (fees, interest, and active trading, respectively). Auto mechanics and car companies make money if your car doesn't work or doesn't last past the warranty period. Even piano teachers only make money if you…
>> and will keep the funds otherwise. If I'm possibly going to give my money away, why would I want to do this to some random contract, instead maybe a Charity or somewhere other than directly to the contract?
Money going to charity won't make me feel that bad about not achieving my goal.
"oh well atleast someone needy is getting the money"
Defeats the whole point of the exercise( pardon the pun).
It did bring to mind an interesting related idea, though, specifically for software side projects: instead of relying on a human to validate your success, create a smart contract around a test suite; funds are released by passing your tests by the deadline.
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Couldn't the smart contract literally "burn" the funds in case of failure? Like transfer a small percentage to the owner as a fee for the service, then send the rest to a faulty address or contract setup to never be retrievable?
yes. or maybe even distribute it among those that managed to reach their goals.
I had been discussing almost exactly this idea with a friend over the last couple weeks, wholly unaware of the similar services listed elsewhere in the comments (although I realise there is a chance I heard about one of them in the past but forgot about it). Good job on getting this up and running, looks great so far! The way we had proposed to deal with funds that were not returned to the user because of failing a g…
Something to think about with that, wearing my black hat: What's to stop me from putting up a stake, using a second email address as my "supervisor", and just confirming at the end of the month that I've reached my goal? Without doing anything, that makes me eligible for a chunk of the reward pool.
Maybe there isn't a great way to implement this.
Since setGoalFailed is public (because you want it to be callable by the person trying to achieve the goal, and the contract owner is the supervisor) and does no checks, seems like anyone can mark a goal as failed and the money held in the smart contract will go to the contract owner? Shouldn't that check that msg.sender is either goals[_hash].owner or owner ?
Earlier quoted context omitted.
Couldn't the smart contract literally "burn" the funds in case of failure? Like transfer a small percentage to the owner as a fee for the service, then send the rest to a faulty address or contract setup to never be retrievable?
yes. or maybe even distribute it among those that managed to reach their goals.
Since that is now money that is forcibly and irrevocably taken out of circulation, so therefore everyone else's money is worth slightly more because of it!
Since setGoalFailed is public (because you want it to be callable by the person trying to achieve the goal, and the contract owner is the supervisor) and does no checks, seems like anyone can mark a goal as failed and the money held in the smart contract will go to the contract owner? Shouldn't that check that msg.sender is either goals[_hash].owner or owner ?
You are right, thank you for spotting this! I will have to make a new contract, this one is flawed. If someone decides to call this function and I get the funds, I will give a manual refund. It will have to do until v2 release of the contract. Right now at least it's not holding any major funds.