From: Melvin Carvalho <melvincarvalho@gmail•com>
To: Peter Todd <pete@petertodd•org>
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 01:43:27 +0200 [thread overview]
Message-ID: <CAKaEYh+9BZ5WdoyzFSRp+k3_R5TW2qBy+aihK2g_22DWYWgnTQ@mail.gmail.com> (raw)
In-Reply-To: <20130601193036.GA13873@savin>
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On 1 June 2013 21:30, Peter Todd <pete@petertodd•org> wrote:
> Currently the most compact way (proof-size) to sacrifice Bitcoins that
> does not involve making them unspendable is to create a anyone-can-spend
> output as the last txout in the coinbase of a block:
>
> scriptPubKey: <data> OP_TRUE
>
> The proof is then the SHA256 midstate, the txout, and the merkle path to
> the block header. However this mechanism needs miner support, and it is
> not possible to pay for such a sacrifice securely, or create an
> assurance contract to create one.
>
Sorry if this is a stupid question, but why would someone want to sacrifice
their bitcoins?
>
> A anyone-can-spend in a regular txout is another option, but there is no
> way to prevent a miner from including a transaction spending that txout
> in the same block. Once that happens, there is no way to prove the miner
> didn't create both, thus invalidating the sacrifice. The announce-commit
> protocol solves that problem, but at the cost of a much larger proof,
> especially if multiple parties want to get together to pay the cost of
> the sacrifice. (the proof must include the entire tx used to make the
> sacrifice)
>
> However if we add a rule where txouts ending in OP_TRUE are unspendable
> for 100 blocks, similar to coinbases, we fix these problems. The rule
> can be done as a soft-fork with 95% support in the same way the
> blockheight rule was implemented. Along with that change
> anyone-can-spend outputs should be make IsStandard() so they will be
> relayed.
>
> The alternative is sacrifices to unspendable outputs, which is very
> undesirable compared to sending the money to miners to further
> strengthen the security of the network.
>
> We should always make it easy for people to write code that does what is
> best for Bitcoin.
>
> --
> 'peter'[:-1]@petertodd.org
> 00000000000000ce3427502ee6a254fed27e1cd21a656a335cd2ada79b7b5293
>
>
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next prev parent reply other threads:[~2013-06-03 23:43 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
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 [this message]
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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