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From: Adrian Macneil <adrian@coinbase.com>
In-Reply-To: <FEB90DA4-2BF3-460F-8F35-9BCE929A2A31@petertodd.org>
Date: Wed, 8 Apr 2015 23:28:08 -0700
Message-Id: <C92CBBFE-A967-457B-B356-AF85F7BE8936@coinbase.com>
References: <CANEZrP3Prp6EFUdH_VDWkq508HkeFBMn+swzZ9ycAMsrOazFZA@mail.gmail.com>
	<FEB90DA4-2BF3-460F-8F35-9BCE929A2A31@petertodd.org>
To: Peter Todd <pete@petertodd.org>
Cc: Bitcoin Dev <bitcoin-development@lists.sourceforge.net>
Subject: Re: [Bitcoin-development] Double spending and replace by fee
Precedence: list


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Fwiw, Coinbase relies on the current first-seen mempool behaviour. Wide =
adoption of RBF (without a suitable replacement available) would make it =
extremely difficult to pitch bitcoin as a viable alternative to credit =
cards payments to large merchants.

Adrian

> On Mar 28, 2015, at 7:22 AM, Peter Todd <pete@petertodd.org> wrote:
>=20
> Signed PGP part
> Would you so us all a favor and make a list of companies *actually* =
relying on "first-seen" mempool behaviour. Because I've been having a =
hard time actually finding anyone who does who hasn't given up on it. =
Not very useful to talk about attacks against hypothetical defences.
>=20
> On 28 March 2015 09:58:53 GMT-04:00, Mike Hearn <mike@plan99.net> =
wrote:
> >I've written a couple of blog posts on replace by fee and double
> >spending
> >mitigations. They sum up the last few years (!) worth of discussions =
on
> >this list and elsewhere, from my own perspective.
> >
> >I make no claim to be comprehensive or unbiased but I keep being =
asked
> >about these topics so figured I'd just write up my thoughts once so I
> >can
> >send links instead of answers :) And then so can anyone who happens =
to
> >agree.
> >
> >(1) Replace by fee scorched earth, a counter argument:
> >
> >https://medium.com/@octskyward/replace-by-fee-43edd9a1dd6d
> >
> >This article lays out the case against RBF-SE and argues it is =
harmful
> >to
> >Bitcoin.
> >
> >(2) Double spending and how to make it harder:
> >
> =
>https://medium.com/@octskyward/double-spending-in-bitcoin-be0f1d1e8008
> >
> >This article summarises a couple of double spending incidents against
> >merchants and then discusses the following techniques:
> >
> >   1. Risk analysis of transactions
> >   2. Payment channels
> >   3. Countersigning by a trusted third party
> >   4. Remote attestation
> >   5. ID verification
> >   6. Waiting for confirmations
> >   7. Punishment of double spending blocks
> >
> >I hope the material is useful / interesting.
> >
> >
> =
>------------------------------------------------------------------------
> >
> =
>-------------------------------------------------------------------------=
-----
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> >news, videos, case studies, tutorials and more. Take a look and join
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> >
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> >_______________________________________________
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> >https://lists.sourceforge.net/lists/listinfo/bitcoin-development
>=20
>=20
>=20
> =
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> by Intel and developed in partnership with Slashdot Media, is your hub =
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> things parallel software development, from weekly thought leadership =
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> news, videos, case studies, tutorials and more. Take a look and join =
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> conversation now. http://goparallel.sourceforge.net/
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