Re: [Bitcoin-development] [BIP draft] CHECKLOCKTIMEVERIFY - Prevent a txout from being spent until an expiration time
Opinion: if a soft work works, it should be preferred, if for no other reason than once a hard-fork is planned, the discussion begins about what else to throw in. To minimize the frequency of hard-forks, the time for that is when the change being considered actually requires one. I'm not sure why it'd be any different. Soft forks are just as disruptive - everyone who needs a correct node has to upgrade on time. Given that, I guess there will be a desire to roll out several changes at once too, regardless of what happens to older nodes. -- Meet PCI DSS 3.0 Compliance Requirements with EventLog Analyzer Achieve PCI DSS 3.0 Compliant Status with Out-of-the-box PCI DSS Reports Are you Audit-Ready for PCI DSS 3.0 Compliance? Download White paper Comply to PCI DSS 3.0 Requirement 10 and 11.5 with EventLog Analyzer http://pubads.g.doubleclick.net/gampad/clk?id=154622311iu=/4140/ostg.clktrk___ Bitcoin-development mailing list Bitcoin-development@lists.sourceforge.net https://lists.sourceforge.net/lists/listinfo/bitcoin-development
Re: [Bitcoin-development] The Bitcoin Freeze on Transaction Attack (FRONT)
Yes, you're right. I didn't consider that case. But the problem is that this is not automatic. Currently there is a clear division between miners how will not take the kickback (irrrational) and miners who will (rational). This seems to come up a lot. Your definition of rational is a short term rationality only. I can pass up a short term profit in return for more stable longer term profits and be completely rational, by a reasonable definition of the word. I think it's clear by now that if most or even some miners decide to prioritise short term profit over the long term health of the system (i.e. longer term profit), Bitcoin basically doesn't work right. This attack is only one of several such things that can happen. This certainly can be a problem when difficulty is skyrocketing because a mining investment is I guess quite short term anyway, but presumably at some point the mining arms race will end and miners will become more settled in. -- Meet PCI DSS 3.0 Compliance Requirements with EventLog Analyzer Achieve PCI DSS 3.0 Compliant Status with Out-of-the-box PCI DSS Reports Are you Audit-Ready for PCI DSS 3.0 Compliance? Download White paper Comply to PCI DSS 3.0 Requirement 10 and 11.5 with EventLog Analyzer http://pubads.g.doubleclick.net/gampad/clk?id=154622311iu=/4140/ostg.clktrk___ Bitcoin-development mailing list Bitcoin-development@lists.sourceforge.net https://lists.sourceforge.net/lists/listinfo/bitcoin-development
Re: [Bitcoin-development] [BIP draft] CHECKLOCKTIMEVERIFY - Prevent a txout from being spent until an expiration time
On Tue, Oct 7, 2014 at 6:08 PM, Mike Hearn m...@plan99.net wrote: That is easy to change; I'll submit a pull request. That's certainly a useful improvement. It won't help the existing userbase though - assuming CHECKLOCKTIMEVERIFY is to go in to the next major release. The next minor release (0.9.4) could have Gavin's change already. I don't think CHECKLOCKTIMEVERIFY will make it into the next major release though. Once headers-first and pruning is merged (which is expected to be a matter of weeks). I'd like to split off the 0.10 branch and give it some time to stabilize with a feature freeze, then do a release before the end of the year. So 0.11, in say 6 months, would be soonest. Wladimir -- Meet PCI DSS 3.0 Compliance Requirements with EventLog Analyzer Achieve PCI DSS 3.0 Compliant Status with Out-of-the-box PCI DSS Reports Are you Audit-Ready for PCI DSS 3.0 Compliance? Download White paper Comply to PCI DSS 3.0 Requirement 10 and 11.5 with EventLog Analyzer http://pubads.g.doubleclick.net/gampad/clk?id=154622311iu=/4140/ostg.clktrk ___ Bitcoin-development mailing list Bitcoin-development@lists.sourceforge.net https://lists.sourceforge.net/lists/listinfo/bitcoin-development
Re: [Bitcoin-development] [BIP draft] CHECKLOCKTIMEVERIFY - Prevent a txout from being spent until an expiration time
By the way, I really like this proposal. I haven't spent much time thinking about the deeper subtleties and risks associated with it, but I see a lot of opportunities. One just came to mind that I didn't see mentioned in his original proposal: _Non-Interactive Recurring payments__with ID-association_: You want to make N recurring payments of 1 BTC each month to a service. Sign N transactions each of them use a CHECKLOCKTIMEVERIFY block number approximately X months in the future (one for each month). The script allows the customer to move the coins at any time, but after the locktime the merchant/service has signing access. The merchant software will continually watch for and sweep all coins that become available via this mechanism and credit the appropriate customer account. The customer maintains control of the funds until payment time, the merchant can automatically collect it each month without requiring user interaction, and the customer can cancel it just by spending it elsewhere before the locktime. This scheme has an added benefit: both the merchant's address and the user's address is in the script. Given an appropriate scheme for linking addresses to accounts (perhaps sending the service a watch-only BIP32 branch), the service can use the other address in the script to recognize and link that payment to the user's account. This allows you to continue paying and extending your subscription without having to explicitly link each payment to the account. The wallet will simply make sure to use a return address that is in a BIP32 branch that was provided to the service during signup, and the service will automatically extend your subscription every month based on that info when it sweeps payments. Along with everything else that was mentioned by Peter in his original proposal, I see OP_CHECKLOCKTIMEVERIFY as an enabling feature, not just a simple improvement. -Alan On 10/08/2014 06:26 AM, Wladimir wrote: On Tue, Oct 7, 2014 at 6:08 PM, Mike Hearn m...@plan99.net wrote: That is easy to change; I'll submit a pull request. That's certainly a useful improvement. It won't help the existing userbase though - assuming CHECKLOCKTIMEVERIFY is to go in to the next major release. The next minor release (0.9.4) could have Gavin's change already. I don't think CHECKLOCKTIMEVERIFY will make it into the next major release though. Once headers-first and pruning is merged (which is expected to be a matter of weeks). I'd like to split off the 0.10 branch and give it some time to stabilize with a feature freeze, then do a release before the end of the year. So 0.11, in say 6 months, would be soonest. Wladimir -- Meet PCI DSS 3.0 Compliance Requirements with EventLog Analyzer Achieve PCI DSS 3.0 Compliant Status with Out-of-the-box PCI DSS Reports Are you Audit-Ready for PCI DSS 3.0 Compliance? Download White paper Comply to PCI DSS 3.0 Requirement 10 and 11.5 with EventLog Analyzer http://pubads.g.doubleclick.net/gampad/clk?id=154622311iu=/4140/ostg.clktrk ___ Bitcoin-development mailing list Bitcoin-development@lists.sourceforge.net https://lists.sourceforge.net/lists/listinfo/bitcoin-development -- Meet PCI DSS 3.0 Compliance Requirements with EventLog Analyzer Achieve PCI DSS 3.0 Compliant Status with Out-of-the-box PCI DSS Reports Are you Audit-Ready for PCI DSS 3.0 Compliance? Download White paper Comply to PCI DSS 3.0 Requirement 10 and 11.5 with EventLog Analyzer http://pubads.g.doubleclick.net/gampad/clk?id=154622311iu=/4140/ostg.clktrk___ Bitcoin-development mailing list Bitcoin-development@lists.sourceforge.net https://lists.sourceforge.net/lists/listinfo/bitcoin-development
