From: Jeff Garzik <jgarzik@bitpay•com>
To: John Dillon <john.dillon892@googlemail•com>
Cc: Bitcoin-Dev <bitcoin-development@lists•sourceforge.net>
Subject: Re: [Bitcoin-development] Proposal: soft-fork to make anyone-can-spend outputs unspendable for 100 blocks
Date: Tue, 4 Jun 2013 13:42:53 -0400 [thread overview]
Message-ID: <CAJHLa0PRNxS7K3YeCx_eXkZQdO8vOCefuGyXMXD7ESq0QEhr+g@mail.gmail.com> (raw)
In-Reply-To: <CAPaL=UUJ+Qu2ejXO6YYOzzDW0jPUpCPAmcw4j30niaT2e7+=Nw@mail.gmail.com>
On Tue, Jun 4, 2013 at 10:55 AM, John Dillon
<john.dillon892@googlemail•com> wrote:
>> I'm one of the people experimenting in this area. I've long argued
>> that a zero-output transaction should be permitted -- 100% miner fee
>> -- as an elegant proof of sacrifice. Unfortunately that requires a
>> hard fork. Also, for most people, it seems likely that a change
>> transaction would be generated. That, then, would generate an
>> already-standard transaction, where inputs > outputs.
>
> 100% miner fee is not a proof of anything because the miner could have created
> that transaction for themselves. You must have proof that all miners had an
> equal opportunity at collecting the fee, and the only way to do that is by
> Peter's announce-commit protocol, or his unspendable until after n blocks
> proposal.
Absolutely. It wholly depends on the security model, and
economic-incentives model. Some use models simply don't care if the
miner created a transaction that gave the fee to themselves. It might
even be /encouraged/ to do this! Sure they are paying themselves, but
given bitcoin network difficulty is so high, simply obtaining
payments-go-myself-as-miner transactions is itself difficult.
Producing an identity (my goal) or whatever is just fine, and in such
case becomes simply an additional block reward -- an additional
incentive to buy into this identity creation/management system.
Or exchange "identity" with another token, for another data service of
your choice.
This is no longer a strict "proof of sacrifice" system, if such
behavior is encouraged, but it is nonetheless valid.
--
Jeff Garzik
Senior Software Engineer and open source evangelist
BitPay, Inc. https://bitpay.com/
next prev parent reply other threads:[~2013-06-04 17:42 UTC|newest]
Thread overview: 22+ messages / expand[flat|nested] mbox.gz Atom feed top
2013-06-01 19:30 Peter Todd
[not found] ` <201306012034.31543.luke@dashjr.org>
2013-06-01 20:58 ` Peter Todd
[not found] ` <38A06794-B6B4-45F3-99C1-24B08434536D@gmail.com>
2013-06-02 6:13 ` Peter Todd
2013-06-02 17:35 ` Jeff Garzik
2013-06-02 18:41 ` Peter Todd
2013-06-04 0:22 ` Mark Friedenbach
2013-06-02 21:45 ` Adam Back
2013-06-04 14:12 ` Jeff Garzik
2013-06-04 14:55 ` John Dillon
2013-06-04 17:42 ` Jeff Garzik [this message]
2013-06-04 18:36 ` Roy Badami
2013-06-04 18:49 ` Jeff Garzik
2013-06-04 20:25 ` Peter Todd
2013-06-03 23:43 ` Melvin Carvalho
2013-06-04 2:26 ` Michael Hendricks
2013-06-06 19:14 Luke-Jr
2013-06-06 19:59 ` Andreas M. Antonopoulos
2013-06-06 20:07 ` Luke-Jr
2013-06-06 20:16 ` Andreas M. Antonopoulos
2013-06-06 21:48 ` Luke-Jr
2013-06-06 22:10 ` Melvin Carvalho
2013-06-06 20:25 ` Melvin Carvalho
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