[Bitcoin-development] [BIP draft] CHECKLOCKTIMEVERIFY - Prevent a txout from being spent until an expiration time

2014-10-01 Thread Peter Todd
I've written a reference implementation and BIP draft for a new opcode, CHECKLOCKTIMEVERIFY. The BIP, reproduced below, can be found at: https://github.com/petertodd/bips/blob/checklocktimeverify/bip-checklocktimeverify.mediawiki The reference implementation, including a full-set of unittest

Re: [Bitcoin-development] [BIP draft] CHECKLOCKTIMEVERIFY - Prevent a txout from being spent until an expiration time

2014-10-01 Thread Gavin Andresen
Very nice, semantics are clear and use cases are compelling. Can we defer discussion of how to roll this out for a little bit, and see if there is consensus that: a) benefits of having this outweigh risks b) we're all happy with exact semantics Then we can have a knock-down drag-out argument abo

Re: [Bitcoin-development] [BIP draft] CHECKLOCKTIMEVERIFY - Prevent a txout from being spent until an expiration time

2014-10-01 Thread Sergio Lerner
I like the proposal. I suggest that applications and nodes should only broadcast transactions having OP_CHECKLOCKTIMEVERIFY a few blocks after the timeout value. If a node broadcasts a TX having OP_CHECKLOCKTIMEVERIFY and nLockTime is equal to the current height and equal to the timeout value, but

Re: [Bitcoin-development] [BIP draft] CHECKLOCKTIMEVERIFY - Prevent a txout from being spent until an expiration time

2014-10-01 Thread Peter Todd
-BEGIN PGP SIGNED MESSAGE- Hash: SHA256 Yeah, there are lots of "upper-level" details to consider; I'm not going to pretend that BIP is complete yet. My thinking is that the first release should include my NOPx blacklist pull-req, and leave NOP2/CHECKLOCKTIMEVERIFY in that blacklist for

Re: [Bitcoin-development] [BIP draft] CHECKLOCKTIMEVERIFY - Prevent a txout from being spent until an expiration time

2014-10-01 Thread Luke Dashjr
On Wednesday, October 01, 2014 1:08:26 PM Peter Todd wrote: > I've written a reference implementation and BIP draft for a new opcode, > CHECKLOCKTIMEVERIFY. Thoughts on some way to have the stack item be incremented by the height at which the scriptPubKey was in a block? A limitation of encoding

Re: [Bitcoin-development] [BIP draft] CHECKLOCKTIMEVERIFY - Prevent a txout from being spent until an expiration time

2014-10-01 Thread Gavin Andresen
On Wed, Oct 1, 2014 at 2:23 PM, Luke Dashjr wrote: > houghts on some way to have the stack item be incremented by the height at > which the scriptPubKey was in a block? A limitation of encoding the target > height/time directly, is that miners may choose not to mine the first > transaction until

Re: [Bitcoin-development] [BIP draft] CHECKLOCKTIMEVERIFY - Prevent a txout from being spent until an expiration time

2014-10-01 Thread Alan Reiner
On 10/01/2014 04:58 PM, Gavin Andresen wrote: > If the first transaction is P2SH, then the miner won't know there is > an advantage to holding it until it is too late (the scriptPubKey is > an opaque hash until the second transaction is final and > relayed/broadcast). If you're doing some kind of

Re: [Bitcoin-development] [BIP draft] CHECKLOCKTIMEVERIFY - Prevent a txout from being spent until an expiration time

2014-10-01 Thread Gavin Andresen
On Wed, Oct 1, 2014 at 5:04 PM, Alan Reiner wrote: > On 10/01/2014 04:58 PM, Gavin Andresen wrote: > > If the first transaction is P2SH, then the miner won't know there is > > an advantage to holding it until it is too late (the scriptPubKey is > > an opaque hash until the second transaction is f

Re: [Bitcoin-development] [BIP draft] CHECKLOCKTIMEVERIFY - Prevent a txout from being spent until an expiration time

2014-10-01 Thread Peter Todd
-BEGIN PGP SIGNED MESSAGE- Hash: SHA256 On 1 October 2014 11:23:55 GMT-07:00, Luke Dashjr wrote: >Thoughts on some way to have the stack item be incremented by the >height at >which the scriptPubKey was in a block? Better to create a GET-TXIN-BLOCK-(TIME/HEIGHT)-EQUALVERIFY operator.

Re: [Bitcoin-development] [BIP draft] CHECKLOCKTIMEVERIFY - Prevent a txout from being spent until an expiration time

2014-10-01 Thread Peter Todd
-BEGIN PGP SIGNED MESSAGE- Hash: SHA256 On 1 October 2014 14:34:33 GMT-07:00, Gavin Andresen wrote: >On Wed, Oct 1, 2014 at 5:04 PM, Alan Reiner >wrote: >No, the burner would supply the funding transaction plus the redeeming >script as the proof-of-burn to whoever needed the proof. N

Re: [Bitcoin-development] [BIP draft] CHECKLOCKTIMEVERIFY - Prevent a txout from being spent until an expiration time

2014-10-01 Thread Luke Dashjr
On Thursday, October 02, 2014 12:05:15 AM Peter Todd wrote: > On 1 October 2014 11:23:55 GMT-07:00, Luke Dashjr wrote: > >Thoughts on some way to have the stack item be incremented by the > >height at > >which the scriptPubKey was in a block? > > Better to create a GET-TXIN-BLOCK-(TIME/HEIGHT)-EQ

Re: [Bitcoin-development] [BIP draft] CHECKLOCKTIMEVERIFY - Prevent a txout from being spent until an expiration time

2014-10-01 Thread Peter Todd
-BEGIN PGP SIGNED MESSAGE- Hash: SHA256 On 1 October 2014 08:01:28 GMT-07:00, Gavin Andresen wrote: >Very nice, semantics are clear and use cases are compelling. Thanks! >Can we defer discussion of how to roll this out for a little bit, and >see >if there is consensus that: > >a) ben

Re: [Bitcoin-development] [BIP draft] CHECKLOCKTIMEVERIFY - Prevent a txout from being spent until an expiration time

2014-10-01 Thread Peter Todd
-BEGIN PGP SIGNED MESSAGE- Hash: SHA256 On 1 October 2014 17:55:36 GMT-07:00, Luke Dashjr wrote: >On Thursday, October 02, 2014 12:05:15 AM Peter Todd wrote: >> On 1 October 2014 11:23:55 GMT-07:00, Luke Dashjr >wrote: >> >Thoughts on some way to have the stack item be incremented by t

[Bitcoin-development] Decreasing block propagation time

2014-10-01 Thread Rebroad (sourceforge)
https://bitcointalk.org/index.php?topic=145066.0 The idea proposed in the above article seemed like an excellent idea. What is holding this up from being implemented? Does someone need to code it, or write a BIP first? --

Re: [Bitcoin-development] Decreasing block propagation time

2014-10-01 Thread Matt Corallo
It already is https://bitcointalk.org/index.php?topic=766190.0;all. Well, ok, a variation on the idea is. Matt On 10/02/14 04:39, Rebroad (sourceforge) wrote: > https://bitcointalk.org/index.php?topic=145066.0 > > The idea proposed in the above article seemed like an excellent idea. > What is ho