Re: [Bitcoin-development] Assurance contracts to fund the network with OP_CHECKLOCKTIMEVERIFY

2015-05-08 Thread Jeff Garzik
That reminds me - I need to integrate the patch that automatically sweeps anyone-can-pay transactions for a miner. On Thu, May 7, 2015 at 7:32 PM, Tier Nolan tier.no...@gmail.com wrote: One of the suggestions to avoid the problem of fees going to zero is assurance contracts. This lets users

Re: [Bitcoin-development] Assurance contracts to fund the network with OP_CHECKLOCKTIMEVERIFY

2015-05-08 Thread Benjamin
Interesting. 1. How do you know who was first? If one node can figure out where more transactions happen he can gain an advantage by being closer to him. Mining would not be fair. 2. A merchant wants to cause block number 1 million to effectively have a minting fee of 50BTC. - why should he do

Re: [Bitcoin-development] Assurance contracts to fund the network with OP_CHECKLOCKTIMEVERIFY

2015-05-08 Thread Mike Hearn
Looks like a neat solution, Tier. -- One dashboard for servers and applications across Physical-Virtual-Cloud Widest out-of-the-box monitoring support with 50+ applications Performance metrics, stats and reports that give

Re: [Bitcoin-development] Assurance contracts to fund the network with OP_CHECKLOCKTIMEVERIFY

2015-05-08 Thread Tier Nolan
Just to clarify the process. Pledgers create transactions using the following template and broadcast them. The p2p protocol could be modified to allow this, or it could be a separate system. *Input: 0.01 BTC* *Signed with SIGHASH_ANYONE_CAN_PAY* *Output 50BTC* *Paid to: 1 million

Re: [Bitcoin-development] Assurance contracts to fund the network with OP_CHECKLOCKTIMEVERIFY

2015-05-08 Thread Peter Todd
On Fri, May 08, 2015 at 06:00:37AM -0400, Jeff Garzik wrote: That reminds me - I need to integrate the patch that automatically sweeps anyone-can-pay transactions for a miner. You mean anyone-can-spend? I've got code that does this actually: