From: Jannis Froese <s9jafroe@stud•uni-saarland.de>
To: "bitcoin-development@lists•sourceforge.net"
<bitcoin-development@lists•sourceforge.net>
Subject: Re: [Bitcoin-development] 0 confirmation txs using replace-by-fee and game theory
Date: Thu, 24 Apr 2014 19:13:08 +0200 [thread overview]
Message-ID: <53594624.70807@stud.uni-saarland.de> (raw)
In-Reply-To: <CANEZrP0fjzuUKh0Jmk9c99ne81hdxZdTnhw6sq47Na7AC4n04A@mail.gmail.com>
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On 24.04.2014 14:15, Mike Hearn wrote:
> Beyond needing to double balances, what if the shop is selling me a
> phone on contract? So the actual cost of the phone is lower than
> the real price on the assumption of future revenue. Alice double
> spends (aka steals) the phone, paying double the artifically lower
> cost but still making a good saving. Bob does not end up with
> "nothing", he ends up in the red.
Nearly every payment system in existence has this problem: you have to
be able to enforce the contract out-of-band. The scenario you describe
is no worse than a payment network with instant, secure confirmations
because Alice could just as well refuse to make the second payment.
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next prev parent reply other threads:[~2014-04-24 17:13 UTC|newest]
Thread overview: 13+ messages / expand[flat|nested] mbox.gz Atom feed top
2014-04-24 10:48 Jorge Timón
2014-04-24 11:54 ` Mike Hearn
2014-04-24 12:07 ` Chris Pacia
2014-04-24 12:15 ` Mike Hearn
2014-04-24 14:49 ` Jorge Timón
2014-04-24 15:45 ` Mike Hearn
2014-04-24 17:13 ` Jannis Froese [this message]
2014-06-19 3:47 ` Isidor Zeuner
2014-04-25 4:51 ` Gareth Williams
2014-04-25 10:19 ` Mike Hearn
2014-04-25 13:38 ` Gareth Williams
2014-04-24 12:59 ` Peter Todd
2014-04-24 14:20 ` Jorge Timón
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