Block hash can suggest much higher difficulty than what is in effect, so OP_CHECKBLOCKATHEIGHT would not work to decide if difficulty is above the level of the bet.
> On May 23, 2019, at 21:45, Tamas Blummer <tamas.blum...@gmail.com> wrote: > > I see. The uncompressing needs to be done either to compare. How are chances > for that BIP? > > This BIP would be explicitly offering risk managment of miners biggest risk. > Doing so without relying on external markets or oracle, self cointained would > be an impressive and adequate feature. > > Tamas Blummer > >> On May 23, 2019, at 21:21, Nathan Cook <nathan.c...@gmail.com> wrote: >> >> It's true that it fetches the block hash; the idea is to compare the block >> hash's numeric value to the desired (uncompressed) difficulty directly, >> using a 256-bit version of OP_LESSTHAN. >> >> Nathan Cook >> >> >> On Thu, 23 May 2019 at 22:18, Tamas Blummer <tamas.blum...@gmail.com> wrote: >> That opcode would not help as it fetches block hash and not the content of >> the header. >> >>> On May 23, 2019, at 21:05, Nathan Cook <nathan.c...@gmail.com> wrote: >>> >>> You can get the same effect with OP_CHECKBLOCKATHEIGHT as proposed by Luke >>> Dashjr (https://github.com/luke-jr/bips/blob/bip-cbah/bip-cbah.mediawiki) >>> if you also re-enable/extend certain opcodes like OP_AND and OP_LESSTHAN. >>> See >>> https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2016-September/013149.html >>> and the ensuing thread. >>> >>> Nathan Cook >>> >>> >>> On Thu, 23 May 2019 at 21:33, Tamas Blummer via bitcoin-dev >>> <bitcoin-dev@lists.linuxfoundation.org> wrote: >>> Difficulty change has profound impact on miner’s production thereby >>> introduce the biggest risk while considering an investment. >>> Commodity markets offer futures and options to hedge risks on traditional >>> trading venues. Some might soon list difficulty futures. >>> >>> I think we could do much better than them natively within Bitcoin. >>> >>> A better solution could be a transaction that uses nLocktime denominated in >>> block height, such that it is valid after the difficulty adjusted block in >>> the future. >>> A new OP_DIFFICULTY opcode would put onto stack the value of difficulty for >>> the block the transaction is included into. >>> The output script may then decide comparing that value with a strike which >>> key can spend it. >>> The input of the transaction would be a multi-sig escrow of those who >>> entered the bet. >>> The winner would broadcast. >>> >>> Once signed by both the transaction would not carry any counterparty risk >>> and would not need an oracle to settle according to the bet. >>> >>> I plan to draft a BIP for this as I think this opcode would serve >>> significant economic interest of Bitcoin economy, and is compatible with >>> Bitcoin’s aim not to introduce 3rd party to do so. >>> >>> Do you see a fault in this proposal or want to contribute? >>> >>> Tamas Blummer >>> >>> _______________________________________________ >>> bitcoin-dev mailing list >>> bitcoin-dev@lists.linuxfoundation.org >>> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev >> >
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