On Thu, Feb 12, 2015 at 08:15:01PM +0100, Alan Reiner wrote: > The Bitcoin network achieves something that we didnt' think was possible > 10 years ago: a totally trustless, decentralized ledger. The cost? It > takes time for the decentralized network to reach consensus that > transactions "happened". That is quite literally the trade-off that we > make: you can centralize things by putting a bank in the middle and > getting instant confirmation, or you decentralize and let the network > reach consensus over time without the central authority. If you want > instant confirmations, you're going to need to add centralization > because Bitcoin never offered it. I support efforts to dispel any such > myths as soon as possible and encourage building robust solutions > (payment channels, insured zero-conf services, etc.).
Speaking of, a relatively simple thing that would help dispel these notions would be if some wallets supported replace-by-fee-using fee-bumping and an "attempt undo" button. Armory is an (unfortunately!) special case because it uses a full node and has good privacy guarantees, but most wallets could implement this by just sending the doublespend transactions to any node advertising either the replace-by-fee or GETUTXO's service bits. 1) https://www.schneier.com/blog/archives/2009/09/the_doghouse_cr.html -- 'peter'[:-1]@petertodd.org 00000000000000000a1fb2fd17f5d8735a8a0e7aae841c95a12e82b934c4ac92
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