Sorry, this is not the case.
Your slides gloss over the simple fact that compact fraud proofs in
Bitcoin aren't possible, and that the "SPV" implemented today bears
absolutely no resemblance in security properties to the version
described in the Bitcoin white paper. In the white paper SPV clients
have the same security as fully validating nodes, in the implementation
of BIP37 they have absolutely no security except the vague hope that
they are not being lied to, and that the chain with the most work they
are seeing is actually valid, both are very weak assumptions.
The suggested solution in no way precludes unconfirmed transactions from
being used with a commitment scheme, my comments and others are just
recognising that they are an almost useless indicator for people who
aren't validating.
During the validationless mining failure around the BIP66 activation
miners produced 6 invalid blocks in a chain, and many more invalid
blocks in isolated bursts for a period lasting several months. Due to
the instability of the network you are completely unreasonable to accept
anything except multiple confirmations, the true number for safety is
probably more like 60 or 120, not 6, or 3, or 1 as some Bitcoin
exchanges use today.
0000000000000000009cc829aa25b40b2cd4eb83dd498c12ad0d26d90c439d99.bin
bad-version(0x00000002)
0000000000000000032527aa796d3672e32e5f85a452d3a584a28fc7efbcd5d0.bin
bad-version(0x00000002)
000000000000000003ae1223f4926ec86100885cfe1484dc52fd67e042a19b12.bin
bad-version(0x00000002)
0000000000000000083cbdbb25c1607527c8f3fdb16f0d048c4439a73b501cb6.bin
bad-version(0x00000002)
00000000000000000954ed93eda1e79e8261137548fa9ccf4d516bb384a3660b.bin
bad-version(0x00000002)
00000000000000000afc9fbe7cfe8a6b50502d509ba626beb2e2d6c15d1d3ee3.bin
bad-version(0x00000002)
00000000000000000b6adf92bc192b3c21210f456ab21b5e46951665c74cfab2.bin
bad-version(0x00000002)
00000000000000000c9bb4a508fff34f5450d9c62ef2cb833e53909a4c549de5.bin
bad-version(0x00000002)
0000000000000000116322b5f25826787b01f7a70fb322837b68dff8216cefc4.bin
bad-version(0x00000002)
000000000000000012aac0664cd8b6cbc3ea485921a05f2c4340f928b0226d3c.bin
bad-version(0x00000002)
"SPV" like you're describing can exist, or validationless mining can
exist, both can not simultaneously.
On 2017-03-16 09:36, Tom Harding via bitcoin-dev wrote:
Agreed.
In contrast, BIP37 as used today is totally decentralized, and can me
made much more secure, private, and scalable -- without giving up the
utility of unconfirmed transactions.
Please don't read into this statement a belief that all the coffees
should go on the chain, or that the security or privacy of BIP37
compare favorably to any other particular thing.
https://docs.google.com/presentation/d/13MzUo2iIH9JBW29TgtPMoaMXxeEdanWDfi6SlfO-LlA
On 1/5/2017 6:04 PM, bfd--- via bitcoin-dev wrote:
You might as well replace Bitcoin with a system where these parties
sign transactions and skip mining altogether, it would have the same
properties and be significantly more effient.
On 2017-01-04 23:06, Chris Priest wrote:
On 1/3/17, Jonas Schnelli via bitcoin-dev
<bitcoin-dev@lists.linuxfoundation.org> wrote:
There are plenty, more sane options. If you can't run your own
full-node
as a merchant (trivial), maybe co-use a wallet-service with
centralized
verification (maybe use two of them), I guess Copay would be one of
those wallets (as an example). Use them in watch-only mode.
The best way is to connect to the mempool of each miner and check to
see if they have your txid in their mempool.
https://www.antpool.com/api/is_in_mempool?txid=334847bb...
https://www.f2pool.com/api/is_in_mempool?txid=334847bb...
https://bw.com/api/is_in_mempool?txid=334847bb...
https://bitfury.com/api/is_in_mempool?txid=334847bb...
https://btcc.com/api/is_in_mempool?txid=334847bb...
If each of these services return "True", and you know those services
so not engage in RBF, then you can assume with great confidence that
your transaction will be in the next block, or in a block very soon.
If any one of those services return "False", then you must assume
that
it is possible that there is a double spend floating around, and that
you should wait to see if that tx gets confirmed. The problem is that
not every pool runs such a service to check the contents of their
mempool...
This is an example of mining centralization increasing the security
of
zero confirm. If more people mined, this method will not work as well
because it would require you to call the API of hundreds of different
potential block creators.
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