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Cc: Bitcoin Dev <bitcoin-development@lists.sourceforge.net>
Subject: Re: [Bitcoin-development] BIP 65 and OP_CHECKLOCKTIMEVERIFY
inquiry...
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> This breaks existing invariants and would make the coins potentially less
fungible because they wouldn't be reorg safe.
I'm not sure coins are ever reorg safe. All it takes is a double spend in
the history of your coins for them to become invalid after a reorg. Because
of that, there are already less fungible coins. This is why we recommend 6
confirmations for important payments.
On Fri, Nov 28, 2014 at 3:18 AM, Peter Todd <pete@petertodd.org> wrote:
> -----BEGIN PGP SIGNED MESSAGE-----
> Hash: SHA256
>
>
>
> On 27 November 2014 18:46:23 GMT-05:00, Gregory Maxwell <
> gmaxwell@gmail.com> wrote:
>
> <snip 100% accurate commentary from gmaxwell>
>
> >The things you're suggesting were all carefully designed out of the
> >proposal, perhaps the BIP text needs some more clarification to make
> >this more clear.
>
> It does; it is still a draft. That said I think writing up some actual
> working examples, in code, of CHECKLOCKTIMEVERIFY using protocols is a
> bigger priority. Micropayment channels comes to mind, as well as a
> greenaddress-style wallet.
>
> When I get a chance I'm going to rebase the initial implementation and add
> to it a command-line-flag to verify CHECKLOCKTIMEVERIFY as an IsStandard()
> rule for testing purposes.
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--089e013c6258f616d80508e9cd35
Content-Type: text/html; charset=UTF-8
Content-Transfer-Encoding: quoted-printable
<div dir=3D"ltr"><div>> This breaks existing invariants and would make t=
he coins potentially less fungible because they wouldn't be reorg safe.=
</div><div><br></div><div>I'm not sure coins are ever reorg safe. All i=
t takes is a double spend in the history of your coins for them to become i=
nvalid after a reorg. Because of that, there are already less fungible coin=
s. This is why we recommend 6 confirmations for important payments.</div></=
div><div class=3D"gmail_extra"><br><div class=3D"gmail_quote">On Fri, Nov 2=
8, 2014 at 3:18 AM, Peter Todd <span dir=3D"ltr"><<a href=3D"mailto:pete=
@petertodd.org" target=3D"_blank">pete@petertodd.org</a>></span> wrote:<=
br><blockquote class=3D"gmail_quote" style=3D"margin:0 0 0 .8ex;border-left=
:1px #ccc solid;padding-left:1ex">-----BEGIN PGP SIGNED MESSAGE-----<br>
Hash: SHA256<br>
<br>
<br>
<br>
On 27 November 2014 18:46:23 GMT-05:00, Gregory Maxwell <<a href=3D"mail=
to:gmaxwell@gmail.com">gmaxwell@gmail.com</a>> wrote:<br>
<br>
<snip 100% accurate commentary from gmaxwell><br>
<span><br>
>The things you're suggesting were all carefully designed out of the=
<br>
>proposal, perhaps the BIP text needs some more clarification to make<br=
>
>this more clear.<br>
<br>
</span>It does; it is still a draft. That said I think writing up some actu=
al working examples, in code, of CHECKLOCKTIMEVERIFY using protocols is a b=
igger priority. Micropayment channels comes to mind, as well as a greenaddr=
ess-style wallet.<br>
<br>
When I get a chance I'm going to rebase the initial implementation and =
add to it a command-line-flag to verify CHECKLOCKTIMEVERIFY as an IsStandar=
d() rule for testing purposes.<br>
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<div class=3D"HOEnZb"><div class=3D"h5"><br>
<br>
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Get technology previously reserved for billion-dollar corporations, FREE<br=
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velopment</a><br>
</div></div></blockquote></div><br></div>
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