From: Alex Schoof <alex.schoof@gmail•com>
To: Bitcoin Protocol Discussion
<bitcoin-dev@lists•linuxfoundation.org>,
Erik Aronesty <erik@q32•com>
Subject: Re: [bitcoin-dev] Boost Bitcoin circulation, Million Transactions Per Second with stronger privacy
Date: Fri, 18 Jun 2021 09:44:17 -0400 [thread overview]
Message-ID: <CA+2b5C3NiY7FcVbBYPKoMy4h6NbXTBY6jkJXhVU46ZorGvSBhQ@mail.gmail.com> (raw)
In-Reply-To: <CAJowKgLZPTAXe3LKVYbuA5zpi5V8AWDEnfLh9sqtWWfnxNQtUA@mail.gmail.com>
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A few questions/comments:
Why is there a 10 sat fee on each tx? Where does that fee go?
I don’t think this design sufficiently protects against double spends by
the “issuer” (the person who actually has the UTXO). Your guarantee tx
mechanism only really covers the case where someone tries to double spend
part of a UTXO balance (in other words, if the penalty lost is less than
the value gained by doing a double spend, its worth it to double spend, and
in a world where you’re passing around digital IOUs, it’s easy to make it
worth it). Later in the post, you mention that there will be a p2p network
to gossip fund transfers and that will prevent an issuer from double
spending. The problem there is that network latency is non-zero, large
network partitions are both real and common, and nodes can come and go
anytime (hardware failure, power failure, network partition healing, just
because they feel like it, etc). Different nodes on the network might hear
about different, conflicting transactions. Nodes will need a way to all
come to consensus on what the right set of “sent notes” is. I think you
will end up reinventing a lot of the problems solved by bitcoin.
Why did you pick email as the RPC mechanism to transfer these notes? Email
is going to add variable amounts of latency and things like spam filters
will cause issues.
Alex
On Fri, Jun 18, 2021 at 4:23 AM Erik Aronesty via bitcoin-dev <
bitcoin-dev@lists•linuxfoundation.org> wrote:
> for very small transactions, this seems to make a hell of a lot of sense.
>
> it's like lightning, but with no limits, no routing protocols...
> everything is guaranteed by relative fees and the cost-of-theft.
>
> pretty cool.
>
> On Thu, Jun 17, 2021 at 4:14 PM raymo via bitcoin-dev
> <bitcoin-dev@lists•linuxfoundation.org> wrote:
> >
> > Hi,
> > I have a proposal for improve Bitcoin TPS and privacy, here is the post.
> >
> https://raymo-49157.medium.com/time-to-boost-bitcoin-circulation-million-transactions-per-second-and-privacy-1eef8568d180
> > https://bitcointalk.org/index.php?topic=5344020.0
> > Can you please read it and share your idea about it.
> >
> > Cheers
> > Raymo
> > _______________________________________________
> > bitcoin-dev mailing list
> > bitcoin-dev@lists•linuxfoundation.org
> > https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev@lists•linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>
--
Alex Schoof
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next prev parent reply other threads:[~2021-06-18 13:44 UTC|newest]
Thread overview: 41+ messages / expand[flat|nested] mbox.gz Atom feed top
2021-06-16 13:44 raymo
2021-06-18 1:42 ` Erik Aronesty
2021-06-18 13:44 ` Alex Schoof [this message]
2021-06-18 20:00 ` raymo
2021-06-19 21:14 ` Erik Aronesty
2021-06-18 13:37 ` Erik Aronesty
2021-06-18 20:22 ` raymo
2021-06-20 0:53 ` ZmnSCPxj
2021-06-26 21:54 ` raymo
2021-06-27 4:53 ` ZmnSCPxj
2021-06-27 11:05 ` raymo
2021-06-28 5:20 ` ZmnSCPxj
2021-06-28 6:29 ` raymo
2021-06-28 8:23 ` James Hilliard
2021-06-28 9:52 ` raymo
2021-06-28 11:28 ` James Hilliard
2021-06-28 16:33 ` raymo
2021-06-28 15:28 ` ZmnSCPxj
2021-06-28 16:58 ` raymo
2021-06-28 17:58 ` Alex Schoof
2021-06-28 19:07 ` raymo
2021-06-29 21:42 ` ZmnSCPxj
2021-06-30 12:21 ` raymo
2021-06-28 17:29 ` Tao Effect
2021-06-28 17:38 ` raymo
2021-06-28 18:05 ` Ricardo Filipe
2021-06-20 1:59 ` James Hilliard
2021-06-22 18:20 ` Billy Tetrud
2021-07-01 20:11 ` raymo
2021-07-01 20:49 ` Erik Aronesty
2021-07-01 22:15 ` raymo
2021-07-02 17:57 ` Billy Tetrud
2021-07-03 8:02 ` raymo
2021-07-07 3:20 ` Billy Tetrud
2021-07-17 15:50 ` raymo
2021-07-17 18:54 ` Tao Effect
2021-08-08 9:11 ` raymo
2021-08-09 0:03 ` s7r
2021-08-09 16:22 ` raymo
[not found] ` <CAL5BAw2f=xJBO743sTb-Cms80ZLsNNbGPAsWsR_Z3JDF51ssoQ@mail.gmail.com>
2021-08-09 20:22 ` raymo
2022-11-02 17:30 ` Erik Aronesty
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