From: Jeff Garzik <jgarzik@bitpay•com>
To: Eric Lombrozo <elombrozo@gmail•com>
Cc: Bitcoin Dev <bitcoin-development@lists•sourceforge.net>,
Justus Ranvier <justusranvier@riseup•net>
Subject: Re: [Bitcoin-development] F2Pool has enabled full replace-by-fee
Date: Sun, 21 Jun 2015 12:49:41 -0700 [thread overview]
Message-ID: <CAJHLa0NJw2UA68gJq8bqLXr4ptgWC8drvvs8d3AwA+iHcmMvJQ@mail.gmail.com> (raw)
In-Reply-To: <30AF043D-A1F8-4502-8280-EBED6063B6B6@gmail.com>
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On Sun, Jun 21, 2015 at 12:42 AM, Eric Lombrozo <elombrozo@gmail•com> wrote:
> Thanks for asking *the* question, Jeff. We often get caught up in these
> philosophical debates…but at the end of the day we need something concrete.
>
> Even more important than the specific software you’re using is the
> security policy.
>
> If you must accept zero confirmation transactions, there are a few
> concrete things you can do to reduce your exposure:
>
> 1) limit the transaction amounts for zero confirmation transactions - do
> not accept them for very high priced goods…especially if they require
> physical shipping.
> 2) limit the total amount of unconfirmed revenue you’ll tolerate at any
> given moment - if the amount is exceeded, require confirmations.
> 3) give merchants of subscription services (i.e. servers, hosting, etc…)
> the ability to shut the user out if a double-spend is detected.
>
Already done -- BitPay merchants choose their level of transaction
security. Level of confirmations is directly exposed to merchants, so that
they choose the level of risk for themselves.
Physically shipped orders and subscriptions are actually the easy cases and
are already handled. These can accept 0-conf for an initial order phase,
then have the luxury of time to wait for confirmations before shipping /
canceling a subscription.
Electronic goods instantly delivered are the toughest use case. Even
there, merchants choose their level of risk.
> 4) collect legal information on purchasers (or have the merchants collect
> this information) so you have someone to go after if they try to screw you
>
The system requests this information on orders yes. Merchants also collect
this info as their needs dictate.
> 5) create a risk profile for users…and flag suspicious behavior (i.e.
> someone trying to purchase a bunch of stuff that totally doesn’t fit into
> their purchasing habits).
> 6) get insurance (although right now reasonably-priced insurance is
> probably pretty hard to obtain since statistics are generally of little
> use…we’re entering uncharted territory).
> 7) set up a warning system and a “panic” button so that if you start to
> see an attack you can immediately disable all zero confirmation
> transactions system-wide.
> 8) independently verify all inbound transactions and connect to multiple
> network nodes…check them against one another.
>
Definitely looking at or have implemented this sort of stuff. I cannot get
into detail in public...
--
Jeff Garzik
Bitcoin core developer and open source evangelist
BitPay, Inc. https://bitpay.com/
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next prev parent reply other threads:[~2015-06-21 19:50 UTC|newest]
Thread overview: 79+ messages / expand[flat|nested] mbox.gz Atom feed top
2015-06-19 10:39 Peter Todd
2015-06-19 13:33 ` Gavin Andresen
2015-06-19 13:52 ` Peter Todd
2015-06-19 14:00 ` Adrian Macneil
2015-06-19 14:08 ` Peter Todd
2015-06-19 14:30 ` Adrian Macneil
2015-06-19 14:59 ` Peter Todd
2015-06-19 15:20 ` Adrian Macneil
2015-06-19 15:40 ` Peter Todd
2015-06-19 16:18 ` Adrian Macneil
2015-06-19 16:37 ` Peter Todd
2015-06-19 20:39 ` Matt Whitlock
2015-06-19 21:05 ` Frank Flores
2015-06-19 21:15 ` Jeff Garzik
2015-06-20 0:47 ` Andreas Petersson
2015-06-20 1:09 ` Mark Friedenbach
2015-06-20 1:23 ` Aaron Voisine
2015-06-20 3:07 ` Eric Lombrozo
2015-06-20 3:48 ` Luke Dashjr
2015-06-20 4:02 ` Eric Lombrozo
2015-06-20 16:43 ` Ivan Brightly
2015-06-20 17:38 ` Cameron Hejazi
2015-06-19 14:40 ` Chun Wang
2015-06-19 15:22 ` Adrian Macneil
2015-06-19 13:33 ` Stephen Morse
2015-06-19 13:37 ` Chun Wang
2015-06-19 13:48 ` Peter Todd
2015-06-19 14:16 ` Lawrence Nahum
2015-06-19 13:40 ` Adrian Macneil
2015-06-19 13:44 ` Peter Todd
2015-06-19 13:52 ` Chun Wang
2015-06-19 15:43 ` Jeff Garzik
2015-06-19 19:49 ` Jeffrey Paul
2015-06-19 15:42 ` Jeff Garzik
2015-06-19 16:15 ` Peter Todd
2015-06-19 15:00 ` justusranvier
2015-06-19 15:11 ` Peter Todd
2015-06-19 15:37 ` Eric Lombrozo
2015-06-19 15:53 ` justusranvier
2015-06-19 16:36 ` Matt Whitlock
2015-06-19 16:42 ` Eric Lombrozo
2015-06-19 16:46 ` Matt Whitlock
2015-06-19 16:53 ` Peter Todd
2015-06-19 16:54 ` justusranvier
2015-06-19 17:00 ` Tier Nolan
2015-06-20 23:20 ` Jorge Timón
2015-06-20 23:37 ` justusranvier
2015-06-21 0:19 ` Eric Lombrozo
2015-06-21 0:27 ` justusranvier
2015-06-21 0:36 ` Eric Lombrozo
2015-06-21 0:54 ` Eric Lombrozo
2015-06-21 5:56 ` Tom Harding
2015-06-21 6:45 ` Jeff Garzik
2015-06-21 7:42 ` Eric Lombrozo
2015-06-21 8:35 ` Eric Lombrozo
2015-06-21 8:41 ` Btc Drak
2015-06-21 8:51 ` Eric Lombrozo
2015-06-21 19:49 ` Jeff Garzik [this message]
2015-06-21 18:23 ` Aaron Voisine
2015-06-19 16:44 ` justusranvier
2015-06-19 17:40 ` Jeff Garzik
2015-06-19 17:48 ` justusranvier
2015-06-19 17:50 ` Jeff Garzik
2015-06-19 18:00 ` justusranvier
2015-06-19 16:50 ` Milly Bitcoin
2015-06-19 16:41 ` [Bitcoin-development] Remove Us Please Gigas Gaming Inc.
2015-06-19 18:34 ` Jameson Lopp
2015-06-19 19:55 ` John Bodeen
2015-06-19 20:01 ` Brian Hoffman
2015-06-19 20:27 ` Jameson Lopp
2015-06-20 23:16 ` [Bitcoin-development] F2Pool has enabled full replace-by-fee Jorge Timón
2015-06-20 23:47 ` Eric Lombrozo
2015-06-20 23:52 ` Eric Lombrozo
2015-06-20 23:56 ` Eric Lombrozo
2015-06-19 15:39 ` justusranvier
2015-06-19 15:39 ` Jeff Garzik
2015-06-20 20:04 ` odinn
2015-06-21 2:11 ` Dario Sneidermanis
2015-06-21 2:23 ` Dario Sneidermanis
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