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authorLuke-Jr <luke@dashjr.org>2013-12-17 22:50:24 +0000
committerbitcoindev <bitcoindev@gnusha.org>2013-12-17 22:50:38 +0000
commit5487a2b4e8f0e0a0ac937b0c8619ecfcbe8b5630 (patch)
tree5c2fe2fec19841ace55363dde003a6148da7cdfd
parentb0ff3f5a68ec54b1b02c5472d14ad995ee7606b3 (diff)
downloadpi-bitcoindev-5487a2b4e8f0e0a0ac937b0c8619ecfcbe8b5630.tar.gz
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Re: [Bitcoin-development] RFC: MERGE transaction/script/process for forked chains
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+Subject: Re: [Bitcoin-development] RFC: MERGE transaction/script/process for
+ forked chains
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+On Tuesday, December 17, 2013 10:41:30 PM Troy Benjegerdes wrote:
+> I want to get some feedback.. I've used distributed version control
+> systems for a long time, and the most useful feature is to be able
+> to merge two different forks.
+>
+> So what's the equivalent of this for Bitcoin or other crypto-currencies?
+>
+> Let's suppose that me and my friends get 'islanded' from the rest of
+> the internet for a week, but we still want to trade bitcoin. It would
+> work if there are local miners, until we reconnect.
+>
+> Suppose we have the main chain (Alice), while bob is on a boat, trading
+> with some friends, but has no network connectivity.
+>
+> When bob reconnects with Alice, a 'Merge' transaction happens where a
+> miner looks at bob's forked blockchain, sees no double-spends, and
+> includes BOTH chains.
+>
+> Now suppose someone on bob's boat has a buggy client, or sent a
+> transaction before disconnect that results in a double-spend on the
+> merge.
+>
+> So we have a merge conflict, which generally requires human interaction,
+> so bob and his friends broadcast a MERGE request with a transaction fee
+> sufficient to cover reconciling the double-spends, AND incentivize a
+> miner to do some extra work to merge.
+>
+> Thoughts everyone?
+
+This is interesting, but I'm not sure it has the right incentives. First, it
+adds more reason for miners to *avoid* including transactions (they might turn
+out to be double-spends and make merging costly). Second, it gives people
+reason to double-spend (the miner might cover the cost of it). Finally, you
+don't appear to address how to deal with the subsidy - do both miners get it?
+
+Luke
+
+