Quotes About Transaction

I'll be on my way soon," he promised. "Let me pay for this first." He put the "S" on the counter. He'd chosen milk chocolate. She preferred dark.

A smart contract is code that can create and transform arbitrary data or tokens on top of the blockchain to which it belongs. Powerfully, it allows the user to trustlessly encode rules for any type of transaction and even create scarce assets with specialized functionality. Many of the clauses of traditional business agreements could be shifted to a smart contract, which not only would enumerate but also algorithmically enforce those clauses.

Clauses in a smart contract can cause a transaction to fail and thereby revert all previous steps of the transaction; as a result, transactions are atomic. Atomicity is a critical feature of transactions because funds can move between many contracts (i.e., exchange hands) with the knowledge and security that if one of the conditions is not met, the contract terms reset as if the money never left the starting point.

With approval functionality, contracts (or trusted accounts) can be whitelisted to act as custodians for a user's tokens without directly holding the token balance. This widens the scope of possible applications because users retain full custody before an approved spender executes a transaction.

I've since come to understand that the universe operates on the same general equilibrium theory as markets.It never gives you something without making you pay for it somehow.

As a side note: I thought money was a bad idea way back when it was first invented. I remember the moment very clearly. This guy owed me a sheep, but instead of giving me an actual sheep he gave me five coins he said were worth the same as a sheep. "But I can't eat round pieces of metal, asshole," were my exact words.)

The mechanisms that have traditionally been suggested for understanding companies can be divided into three broad categories: transaction costs, organizational structure, and competition in the marketplace.

I give thee sixpence! I will see thee damned first.

I put a dollar in one of those change machines. Nothing changed.

An Earthman will give you anything as long as it costs nothing and is worth less

It takes two to make a bargain.

It's a bad bargain where nobody gains.

It is naught, it is naught; saith the buyer. But when he is gone his way, then he boasteth.

Who buys has need of two eyes But one's enough to sell the stuff.

Everything is worth what its purchaser will pay for it.

Cheat me in the price but not in the goods.

It is an economic axiom as old as the hills that goods and services can be paid for only with goods and services.

Ah, take the cash, and let the credit go.

Commerce can never be at a stop while one man wants what another can supply; and credit will never be denied, while it is likely to be repaid with profit.

Second is the way of the merchant. The wine maker obtains his ingredients and puts them to use to make his living. The way of the merchant is always to live by taking profit.

GAS, GRASS, OR ASS. NOBODY RIDES FOR FREE.

No person in a transaction should have certainty about the outcome while the other one has uncertainty.

seem to ignore the bad economic aspect of the transaction.

What matters, in the end, is what they pay for goods, not what they say they "think" about them, or the various possible reasons they give you or themselves for that.