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Cc: Bitcoin Dev <bitcoin-development@lists.sourceforge.net>
Subject: Re: [Bitcoin-development] [BIP draft] CHECKLOCKTIMEVERIFY - Prevent
a txout from being spent until an expiration time
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Very good, I like the proposal.
A question I have: can it be used to do the opposite, i.e. build a script
that can only be spent up until block X?
On Thu, Oct 2, 2014 at 2:09 AM, Peter Todd <pete@petertodd.org> wrote:
> -----BEGIN PGP SIGNED MESSAGE-----
> Hash: SHA256
>
>
>
> On 1 October 2014 17:55:36 GMT-07:00, Luke Dashjr <luke@dashjr.org> wrote:
> >On Thursday, October 02, 2014 12:05:15 AM Peter Todd wrote:
> >> On 1 October 2014 11:23:55 GMT-07:00, Luke Dashjr <luke@dashjr.org>
> >wrote:
> >> >Thoughts on some way to have the stack item be incremented by the
> >> >height at
> >> >which the scriptPubKey was in a block?
> >>
> >> Better to create a GET-TXIN-BLOCK-(TIME/HEIGHT)-EQUALVERIFY operator.
> >> scriptPubKey would be:
> >> GET-TXIN-BLOCKHEIGHT-EQUALVERIFY
> >> (fails unless top stack item is equal to the txin block height)
> >> <delta height> ADD
> >> (top stack item is now txin height + delta height)
> >> CHECKLOCKTIMEVERIFY
> >
> >This sounds do-able, although it doesn't address using timestamps.
>
> For timestamps replace "height" with "time" in the above example; the
> minimum block time rule will prevent gaming it.
>
>
> >> You'd want these sacrifices to unlock years into the future to
> >thoroughly
> >> exceed any reasonable business cycle; that's so far into the future
> >that
> >> miners are almost certain to just mine them and collect the fees.
> >
> >For many use cases, short maturity periods are just as appropriate IMO.
>
> Very easy to incentivise mining centralisation with short maturities. I
> personally think just destroying coins is better, but it doesn't sit well
> with people so this is the next best thing.
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--001a11c3c0523491e6050471f372
Content-Type: text/html; charset=UTF-8
Content-Transfer-Encoding: quoted-printable
<div dir=3D"ltr"><div>Very good, I like the proposal.</div><div><br></div><=
div>A question I have: can it be used to do the opposite, i.e. build a scri=
pt that can only be spent up until block X?</div></div><div class=3D"gmail_=
extra"><br><div class=3D"gmail_quote">On Thu, Oct 2, 2014 at 2:09 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"g=
mail_quote" style=3D"margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-l=
eft:1ex"><span>-----BEGIN PGP SIGNED MESSAGE-----<br>
Hash: SHA256<br>
<br>
<br>
<br>
</span><span>On 1 October 2014 17:55:36 GMT-07:00, Luke Dashjr <<a href=
=3D"mailto:luke@dashjr.org">luke@dashjr.org</a>> wrote:<br>
>On Thursday, October 02, 2014 12:05:15 AM Peter Todd wrote:<br>
>> On 1 October 2014 11:23:55 GMT-07:00, Luke Dashjr <<a href=3D"m=
ailto:luke@dashjr.org">luke@dashjr.org</a>><br>
>wrote:<br>
>> >Thoughts on some way to have the stack item be incremented by =
the<br>
>> >height at<br>
>> >which the scriptPubKey was in a block?<br>
>><br>
>> Better to create a GET-TXIN-BLOCK-(TIME/HEIGHT)-EQUALVERIFY operat=
or.<br>
>> scriptPubKey would be:<br>
>>=C2=A0 =C2=A0 =C2=A0GET-TXIN-BLOCKHEIGHT-EQUALVERIFY<br>
>> (fails unless top stack item is equal to the txin block height)<br=
>
>>=C2=A0 =C2=A0 =C2=A0<delta height> ADD<br>
>> (top stack item is now txin height + delta height)<br>
>>=C2=A0 =C2=A0 =C2=A0CHECKLOCKTIMEVERIFY<br>
><br>
>This sounds do-able, although it doesn't address using timestamps.<=
br>
<br>
</span>For timestamps replace "height" with "time" in t=
he above example; the minimum block time rule will prevent gaming it.<br>
<span><br>
<br>
>> You'd want these sacrifices to unlock years into the future to=
<br>
>thoroughly<br>
>> exceed any reasonable business cycle; that's so far into the f=
uture<br>
>that<br>
>> miners are almost certain to just mine them and collect the fees.<=
br>
><br>
>For many use cases, short maturity periods are just as appropriate IMO.=
<br>
<br>
</span>Very easy to incentivise mining centralisation with short maturities=
. I personally think just destroying coins is better, but it doesn't si=
t well with people so this is the next best thing.<br>
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<div class=3D"HOEnZb"><div class=3D"h5"><br>
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</div></div></blockquote></div><br></div>
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