From: Jeff Garzik <jgarzik@bitpay•com>
To: Adam Back <adam@cypherspace•org>
Cc: Bitcoin Dev <bitcoin-development@lists•sourceforge.net>
Subject: Re: [Bitcoin-development] is there a way to do bitcoin-staging?
Date: Mon, 14 Oct 2013 14:21:04 -0400 [thread overview]
Message-ID: <CAJHLa0MT-7mVOsdvMnXS19Y2EOthHb806RY_JWqivjS6vSL5pQ@mail.gmail.com> (raw)
In-Reply-To: <20131014180807.GA32082@netbook.cypherspace.org>
On Mon, Oct 14, 2013 at 2:08 PM, Adam Back <adam@cypherspace•org> wrote:
> Its a live beta, meaning real value, real contracts. But we dont want it to
> be an alt-coin with a floating value exactly, we want it to be bitcoin, but
> the bleeding edge bitcoin so we want to respect the 21 million coin limit,
> and allow coins to move between bitcoin and betacoin with some necessary
> security related restrictions.
>
> There is no mining reward on the betacoin network (can be merge mined for
> security), and the way you opt to move a bitcoin into the betacoin network
> is to mark it as transferred in some UTXO recognized way. It cant be
> reanimated, its dead. (eg spend to a specific recognized invalid address on
> the bitcoin network). In this way its not really a destruction, but a move,
> moving the coin from bitcoin to betacoin network.
>
> This respects the 21 million coin cap, and avoids betacoin bugs flowing back
> and affecting bitcoin security or value-store properties. Users may buy or
> swap betacoin for bitcoin to facilitate moving money back from betacoin to
> bitcoin. However that is market priced so the bitcoin network is security
> insulated from beta. A significant security bug in beta would cause a
> market freeze, until it is rectified.
Quite a neat idea...
> - it avoids mindshare dilution if alternatively an alt-coin with a hit
> missing feature takes off;
FWIW, litecoin devs are open to having litecoin be a bit of a staging
area for new bitcoin features. Obviously there is some self-interest
there -- "we have new cool stuff first!" -- nevertheless, it is a live
test that could demonstrate problems with new features before they
land in bitcoin-stable.
--
Jeff Garzik
Senior Software Engineer and open source evangelist
BitPay, Inc. https://bitpay.com/
next prev parent reply other threads:[~2013-10-14 18:21 UTC|newest]
Thread overview: 27+ messages / expand[flat|nested] mbox.gz Atom feed top
2013-05-19 13:23 Adam Back
2013-05-19 15:08 ` Peter Vessenes
2013-05-20 6:34 ` Alan Reiner
2013-10-14 18:08 ` Adam Back
2013-10-14 18:21 ` Jeff Garzik [this message]
2013-11-21 20:22 ` coinscoins
2013-11-21 20:35 ` Melvin Carvalho
2013-11-21 21:11 ` [Bitcoin-development] bitcoin 1.x & 0.x in parallel (Re: is there a way to do bitcoin-staging?) Adam Back
2014-03-16 22:58 ` [Bitcoin-development] 2-way pegging " Adam Back
2014-03-16 23:22 ` Jorge Timón
2014-03-17 15:55 ` Gregory Maxwell
2013-10-14 18:43 ` [Bitcoin-development] is there a way to do bitcoin-staging? Michael Gronager
2013-10-14 20:20 ` Alan Reiner
2013-05-22 3:37 ` zooko
2013-05-22 4:12 ` Jeff Garzik
2013-05-20 7:12 ` Luke-Jr
2013-06-13 13:39 ` Adam Back
2013-06-14 19:20 ` Peter Todd
2013-06-14 20:50 ` Adam Back
2013-06-14 21:10 ` Luke-Jr
2013-06-14 21:25 ` Andreas Petersson
2013-06-15 0:09 ` Dennison Bertram
2013-06-15 1:57 ` Luke-Jr
2013-06-15 8:43 ` Dennison Bertram
2013-06-15 11:18 ` Melvin Carvalho
2013-06-15 13:26 ` Dennison Bertram
2013-06-16 15:46 ` Dennison Bertram
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