From: vizeet srivastava <vizeet@gmail•com>
To: Alejandro Ranchal Pedrosa <a.ranchalpedrosa@gmail•com>,
Bitcoin Protocol Discussion
<bitcoin-dev@lists•linuxfoundation.org>
Cc: "TUCCI Sara" <sara.tucci@cea•fr>, "Önder GÜRCAN" <Onder.GURCAN@cea•fr>
Subject: Re: [bitcoin-dev] A BIP proposal for transactions that are 'cancellable'
Date: Thu, 6 Sep 2018 21:44:59 +0530 [thread overview]
Message-ID: <CAEmwXH=BZgceLogi+QTA3sLdy8gVFW=wCdt5f9ZS6br=4ktcdg@mail.gmail.com> (raw)
In-Reply-To: <3d4162e0-1f8b-0f23-85fc-9d18d4352cae@gmail.com>
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I feel it is breaking a principle that if a transaction is valid it remains
valid. There might be dangerous repercussions to breaking that rule. For
instance chain of transaction become invalid which might lead to losses.
On Thu 6 Sep, 2018, 6:37 PM Alejandro Ranchal Pedrosa via bitcoin-dev, <
bitcoin-dev@lists•linuxfoundation.org> wrote:
> Hello everyone,
>
> We would like to propose a new BIP to extend OP_CSV (and/or OP_CLTV) in
> order for these to allow and interpret negative values. This way,
> taking the example shown in BIP 112:
>
> HASH160 <revokehash> EQUAL
> IF
> <Bob's pubkey>
> ELSE
> "24h" CHECKSEQUENCEVERIFY DROP
> <Alice's pubkey>
> ENDIF
> CHECKSIG
>
> that gives ownership only to Bob for the first 24 hours and then to
> whichever spends first, we basically propose using the negative bit value:
>
> HASH160 <revokehash> EQUAL
> IF
> <Bob's pubkey>
> ELSE
> "-24h" CHECKSEQUENCEVERIFY DROP
> <Alice's pubkey>
> ENDIF
> CHECKSIG
>
> meaning that both would have ownership for the first 24 hours, but
> after that only Bob would own such coins. Its implementation should
> not be too tedious, and in fact it simply implies considering negative
> values that are at the moment discarded as for the specification of
> BIP-112, leaving the sign bit unused.
>
> This, we argue, an increase the fairness of the users, and can at times
> be more cost-effective for users to do rather than trying a Replace-By-Fee
> transaction, should they want to modify such payment.
>
> We would like to have a discussion about this before proposing the
> BIP, for which we are preparing the text.
>
> You can find our paper discussing it here:
> https://hal-cea.archives-ouvertes.fr/cea-01867357 (find attached as well)
>
> Best,
>
> --
> Alejandro Ranchal Pedrosa, Önder Gürcan and Sara Tucci-Piergiovanni
>
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev@lists•linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>
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prev parent reply other threads:[~2018-09-06 16:15 UTC|newest]
Thread overview: 11+ messages / expand[flat|nested] mbox.gz Atom feed top
2018-09-06 9:19 Alejandro Ranchal Pedrosa
2018-09-06 13:31 ` Matt Corallo
[not found] ` <CABaiX-2L9oVdta=aRH91uE=iPRv4cX6zU0=+oF+2oWqnu=64YQ@mail.gmail.com>
2018-09-06 16:33 ` Matt Corallo
2018-09-07 7:07 ` Alejandro Ranchal Pedrosa
2018-09-06 15:16 ` Gregory Maxwell
2018-09-06 20:32 ` Brandon Smith
2018-09-07 5:02 ` Terry McLaughlin
2018-09-07 7:12 ` Alejandro Ranchal Pedrosa
2018-09-07 12:51 ` Brandon Smith
2018-09-07 13:47 ` TUCCI Sara
2018-09-06 16:14 ` vizeet srivastava [this message]
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