From: Peter Todd <pete@petertodd•org>
To: Mike Hearn <mike@plan99•net>
Cc: Bitcoin Dev <bitcoin-development@lists•sourceforge.net>
Subject: Re: [Bitcoin-development] Multisign payment protocol?
Date: Wed, 12 Mar 2014 12:47:50 -0400 [thread overview]
Message-ID: <20140312164750.GA8199@savin> (raw)
In-Reply-To: <CANEZrP02L2GsPSKFTncwvn95FpEz-LFysro4-Z+f25eRcENL8w@mail.gmail.com>
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On Wed, Mar 12, 2014 at 05:41:33PM +0100, Mike Hearn wrote:
> >
> > Partially signed and multisig transactions within bitcoind go through
> > the raw transaction API, which does absolutely nothing if the sig
> > pushes the TX to a higher fee level.
>
>
> Well, we'll have to make sure this is carefully and loudly documented in
> the new developer part of the website that's being worked on. Because this
> seems like a recipe for people writing flaky apps. In practice it would
> seem like you need to implement the fee loop in your own app:
>
> 1) Create tx with an estimated fee level
> 2) Add signatures
> 3) Submit. If REJECT for too low fees, increment, go to 1 and try again.
Why?
It's the raw transaction API and Bitcoin Core wallet. What should be
carefully and loudly documented is the simple advice "Don't use to hold
customer funds; use Bitcoinj or something instead." followed by a
warning that SPV isn't secure enough for a business unless you run your
own full node.
The raw transaction API has no support to handle fees at all.
--
'peter'[:-1]@petertodd.org
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next prev parent reply other threads:[~2014-03-12 16:47 UTC|newest]
Thread overview: 35+ messages / expand[flat|nested] mbox.gz Atom feed top
2014-03-10 17:39 Drak
2014-03-10 17:49 ` Gavin Andresen
2014-03-10 18:01 ` Alan Reiner
2014-03-11 0:04 ` kjj
2014-03-11 0:09 ` Alan Reiner
2014-03-11 0:14 ` Jeff Garzik
2014-03-11 1:15 ` Gavin Andresen
2014-03-11 11:43 ` Drak
2014-03-11 12:38 ` Jeff Garzik
2014-03-11 13:51 ` Gavin Andresen
2014-03-11 14:13 ` Jeff Garzik
2014-03-11 14:23 ` Gavin Andresen
2014-03-11 14:34 ` Jeff Garzik
2014-03-11 14:44 ` Jeff Garzik
2014-03-11 14:53 ` Gary Rowe
2014-03-11 15:18 ` Mike Hearn
2014-03-11 17:11 ` Miron
2014-03-11 15:37 ` Thomas Voegtlin
2014-03-11 21:12 ` Peter Todd
2014-03-11 17:41 ` Odinn Cyberguerrilla
2014-03-12 0:29 ` Jean-Pierre Rupp
2014-03-12 2:35 ` Alan Reiner
2014-03-12 2:48 ` Eric Lombrozo
2014-03-12 9:48 ` Mike Hearn
2014-03-12 15:35 ` Jeff Garzik
2014-03-12 16:02 ` Mike Hearn
2014-03-12 16:09 ` Drak
2014-03-12 16:14 ` Mike Hearn
2014-03-12 16:24 ` Peter Todd
2014-03-12 16:33 ` Jeff Garzik
2014-03-12 16:41 ` Mike Hearn
2014-03-12 16:47 ` Peter Todd [this message]
2014-03-12 16:57 ` Jeff Garzik
2014-03-10 17:50 ` Mike Hearn
2014-03-10 18:12 ` Jeff Garzik
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