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authorJeff Garzik <jgarzik@bitpay.com>2013-09-08 00:13:48 -0400
committerbitcoindev <bitcoindev@gnusha.org>2013-09-08 04:13:56 +0000
commit9aea3212c308516b4a390b0d0264ea34ee1ffa79 (patch)
treef449e501fce60782e369eba5cd482d3b547f09a7
parent8ace79cae5f536df9fe2d6207b23478038e85adc (diff)
downloadpi-bitcoindev-9aea3212c308516b4a390b0d0264ea34ee1ffa79.tar.gz
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Re: [Bitcoin-development] Blockchain archival
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+Date: Sun, 8 Sep 2013 00:13:48 -0400
+Message-ID: <CAJHLa0N1A8fH+pbZSKFjtLcLHhJOwcEZVZ4cKGPjh5P46zP26Q@mail.gmail.com>
+From: Jeff Garzik <jgarzik@bitpay.com>
+To: rob.golding@astutium.com
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+Cc: Bitcoin Dev <bitcoin-development@lists.sourceforge.net>
+Subject: Re: [Bitcoin-development] Blockchain archival
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+
+This is all FAQ territory, and has been covered on the forums for years.
+
+Balance-at-point-in-time is not completely trust-free, as it is a
+dataset that must be bootstrapped into trust by... an earlier dataset.
+ Continue this logic and you have a... chain.
+
+There is plenty of on-going discussion on UTXO snapshotting -- UTXO
+lockin for each block, or something. This is /somewhat/ like
+balance-at-point-in-time, but no one pretends it is trust-free.
+
+The /only/ way to have a completely trust-free solution is to be able
+to verify all data from genesis through $now. However, it is not
+necessary for all bitcoin wallets to download and verify all those
+gigabytes of data; that is what SPV mode is for.
+
+ Jeff
+
+
+
+On Sat, Sep 7, 2013 at 11:56 PM, <rob.golding@astutium.com> wrote:
+>> (there's no way to be completely trust-free without this).
+>
+> Not quite true, as I said balance-at-point-in-time would solve that
+> (and make the storage requirements much lower)
+>
+>>> If going that route, then solutions to the 'consolidate
+>>> addresses/wallets'
+>>> question and formal 'discard' of addresses could get addressed.
+>>
+>> Not sure what you mean here. Addresses and wallets are two completely
+>> different things. Addresses are single-use destinations that point to
+>> a wallet
+>> (which is itself private and unknown to the network).
+>
+> For bitcoin to grow beyond interesting experiment into global everyday
+> use a number of things would have to happen, not least of which is
+> taking 'average punter' into account. Whilst new ideas can filter into
+> the general consciousness over time,sometimes concepts have to go with
+> 'what already works' :)
+>
+> People's concept of money hasn't really changed in over 1,000 years -
+> it remains 'something of known value i can exchange for something else'.
+>
+> No-one outside of bitcoin dev's and early adopters really gets the
+> one-shot concept of addresses - possibly rightly so - keeping issues of
+> it lowering levels of anonymity etc out of the discussion - it doesn't
+> fit with the mindset people have - it's difficult enough getting
+> merchants to setup separate addresses for each client, one per
+> transaction is simply a waste (of addresses, storage, blockchain size,
+> numnber of inputs|outputs when spending etc)
+>
+> I'm sure the wife would love a new handbag everytime she gets some
+> money, but the real-world just isnt like that ;)
+>
+> Addresses are perceived as the equivalent of a jar you stick your coins
+> in. You can have lots of jars. Each jar can be for a specific reason or
+> whatever, but the analogy is there.
+>
+> Wallets are like a box you keep some of your jars in. With the added
+> interesting concept that a jar can be in multiple boxes at the same
+> time. Only the person with the right 'key' can open the jar and take the
+> contents.
+>
+> However unlike the 3 money boxes I have behind me right now - which i
+> can take 1 single penny out of one and put it into another - if I want
+> to move bitcoins from one addresses (jar) to another *of my own* I have
+> to pay a fee. Worse still if the jar doesnt have much in it I'm denied
+> that ability.
+>
+> End user will neither understand why or want to pay the fee, for
+> dealing with their own coins.
+> If a jar breaks I can just tip the contents into a new one - unless I'm
+> very careless, the amount in the new one = the amount in the old one -
+> people will want/need it to work like that.
+>
+> Similarly if you do have all these addresses around, you may want (as
+> good housekeeping) discard some of them (after moving the cash).
+>
+> So having the ability to specify address to send from is essential (and
+> a sadly missing feature of the QT client)
+>
+> 'intra-wallet' transfers with an 'also discard the sending address'
+> would be a way of (once confirmed) stopping any further use of that
+> address (denied any further transactions by miners ?) and when
+> balance-at-point-in-time is implemented, a way of shrinking the storage
+> for all other bitcoin users (who chosse not to have a full transaction
+> set).
+>
+>
+> If i send luke 10, and luke sends me back 3, i have 3, luke has 7.
+> If luke sends me 2, and i send luke 1, i have 4 and luke has 6.
+> To verify my ability to send jeff 4, all that is needed is to know that
+> I have 4, not all the transactions that led to that state - thats how
+> its done now, thats not necessarily efficient as bitcoin grows
+>
+> If luke sends me 4 more, i now have 4 again, luke has 3
+> If i send 1 to each of the children, they have 1 each (*4)
+>
+> Having a 'family' wallet means when on holiday they can have that
+> rental of quad-bikes - to send the rental company 4 the client only
+> needs to know that those addresses now have 1 each in them, not all the
+> previous transactions - if they didnt exist at the point-in-time
+> balance, then yes, it would need to know about the luke>rob>kids
+> transactions, but thats all
+>
+> I moved to a new netbook recently - it took 140 *hours* to d/load and
+> process the blockchain (yes the wifi was that bad), I heard from one of
+> our clients that (although they only had the client running during
+> working hours) that to their desktop it was over 9 days before it had
+> caught up.
+>
+> If all I was d/loading were the transactions since the last difficulty
+> change (as one example of a fixed point), and the remaining balance on
+> any not-discarded address as at that point it would have been much much
+> quicker, and not be shagging my shiny new hard drive.
+>
+> There's more but it's 4.45 in the morning, and I cant think coherently
+> until after a few hours kip and some good coffee :)
+>
+> Rob
+>
+> ------------------------------------------------------------------------------
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+> _______________________________________________
+> Bitcoin-development mailing list
+> Bitcoin-development@lists.sourceforge.net
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+
+
+
+--
+Jeff Garzik
+Senior Software Engineer and open source evangelist
+BitPay, Inc. https://bitpay.com/
+
+