Re: [Bitcoin-development] BIP - Hash Locked Transaction

2014-04-26 Thread Jorge Timón
Does it make sense to implement a generic Policy interface (abstract class) which StandardPolicy extends? Maybe you can then implement a WhitelistPolicy, ReplacebyFeeStandardPolicy, ReplacebyFeeWhitelistPolicy... This would make it simpler for miners to implement their own policies in general.

Re: [Bitcoin-development] BIP - Hash Locked Transaction

2014-04-25 Thread Luke-Jr
This one looks entirely useless (it cannot be made secure), and the assertion that it is necessary for atomic cross-chain transfers seems unfounded and probably wrong... Luke On Friday, April 25, 2014 6:49:37 PM Tier Nolan wrote: As part of the atomic cross chain system, outputs need to be

Re: [Bitcoin-development] BIP - Hash Locked Transaction

2014-04-25 Thread Tier Nolan
On Fri, Apr 25, 2014 at 8:18 PM, Luke-Jr l...@dashjr.org wrote: This one looks entirely useless (it cannot be made secure) The hash locking isn't to prevent someone else stealing your coin. Once a user broadcasts a transaction with x in it, then everyone has access to x. It is to release the

Re: [Bitcoin-development] BIP - Hash Locked Transaction

2014-04-25 Thread Alex Mizrahi
It is also useful for betting: an oracle will associate a hash with each possible outcome, and when outcome is know, it will reveal a corresponding preimage which will unlock the transaction. This approach has several advantages over approach with multi-sig script: 1. oracle doesn't need to be

Re: [Bitcoin-development] BIP - Hash Locked Transaction

2014-04-25 Thread Peter Todd
On Fri, Apr 25, 2014 at 11:06:37PM +0300, Alex Mizrahi wrote: It is also useful for betting: an oracle will associate a hash with each possible outcome, and when outcome is know, it will reveal a corresponding preimage which will unlock the transaction. This approach has several advantages

Re: [Bitcoin-development] BIP - Hash Locked Transaction

2014-04-25 Thread Gregory Maxwell
On Fri, Apr 25, 2014 at 1:14 PM, Peter Todd p...@petertodd.org wrote: Actually I did some work looking at this problem a few months ago and other than somewhat larger transactions it looks like implementing oracles by having the oracle reveal ECC secret keys works better in every case. Notably

Re: [Bitcoin-development] BIP - Hash Locked Transaction

2014-04-25 Thread Peter Todd
On Fri, Apr 25, 2014 at 01:19:48PM -0700, Gregory Maxwell wrote: On Fri, Apr 25, 2014 at 1:14 PM, Peter Todd p...@petertodd.org wrote: Actually I did some work looking at this problem a few months ago and other than somewhat larger transactions it looks like implementing oracles by having

Re: [Bitcoin-development] BIP - Hash Locked Transaction

2014-04-25 Thread Tier Nolan
On Fri, Apr 25, 2014 at 10:14 PM, Peter Todd p...@petertodd.org wrote: Along those lines, rather than doing up yet another format specific type as Tier Nolan is doing with his BIP, why not write a BIP looking at how the IsStandard() rules could be removed? Removal of isStandard() would be