From: Adam Ritter <aritter@gmail•com>
To: Bitcoin Development <bitcoin-development@lists•sourceforge.net>,
Gregory Maxwell <gmaxwell@gmail•com>,
Mike Hearn <mike@plan99•net>
Subject: [Bitcoin-development] Fwd: Coinbase reallocation to discourage Finney attacks
Date: Thu, 24 Apr 2014 16:52:14 +0200 [thread overview]
Message-ID: <CAKuKjyVxQGezxo-2-063oMavQhi6cTOPwPacmLGkSJQ488UA2w@mail.gmail.com> (raw)
In-Reply-To: <CAKuKjyWDniyP503XSw8=tK9XQW-T58j+VD6ajXCxz=HihN93mQ@mail.gmail.com>
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I wouldn't mind having $5 of my money held at
Apple/Google/VISA/Mastercard/BitPay (and I wouldn't be sad of losing $5 if
any of these companies go bankrupt).
Actually I had in mind creating a centralized version of Bitcoin for
ultra-fast payments. With keeping all addresses on SSDs, asking for 1 cent
/ address month, 1 cent / transaction should be possible to reach even with
6x replication. Companies could compete in price as long as the API is
standardized. Automatic top-up should be simple as well.
On Wed, Apr 23, 2014 at 10:53 PM, Gregory Maxwell <gmaxwell@gmail•com>wrote:
> On Wed, Apr 23, 2014 at 1:44 PM, Adam Ritter <aritter@gmail•com> wrote:
> > Isn't a faster blockchain for transactions (maybe as a sidechain) solving
> > the problem? If there would be a safe way for 0-confirmation
> transactions,
> > the Bitcoin blockchain wouldn't even be needed.
>
> Large scale consensus can't generally provide instantly irreversible
> transactions directly: Increasing the block speed can't help past the
> point where the time starts getting close to the network diameter...
> you simply can't tell what a consensus of a group of nodes is until
> several times the light cone that includes all of them. And if you
> start getting close to the limit you dilute the power working on the
> consensus and potentially make life easier for a large attacker.
>
> Maybe other chains with different parameters could achieve a different
> tradeoff which was better suited to low value retail transactions
> (e.g. where you want a soft confirmation fast). A choice of tradeoffs
> could be very useful, and maybe you can practically get close enough
> (e.g. would knowing you lost a zero-conf double spend within 30
> seconds 90% of the time be good enough?)... but I'm not aware of any
> silver bullet there which gives you something identical to what a
> centralized service can give you without invoking at least a little
> bit of centralization.
>
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next prev parent reply other threads:[~2014-04-24 14:52 UTC|newest]
Thread overview: 90+ messages / expand[flat|nested] mbox.gz Atom feed top
2014-04-23 7:55 [Bitcoin-development] " Mike Hearn
2014-04-23 9:57 ` Andy Parkins
2014-04-23 11:07 ` Mike Hearn
2014-04-23 11:39 ` Andy Parkins
2014-04-23 11:45 ` Mike Hearn
2014-04-23 13:21 ` Andy Parkins
2014-04-23 13:31 ` Mike Hearn
2014-04-24 9:21 ` Andy Parkins
2014-04-23 12:43 ` Christophe Biocca
2014-04-23 12:51 ` Mike Hearn
2014-04-23 14:52 ` Justus Ranvier
2014-04-23 15:07 ` Mike Hearn
2014-04-23 17:19 ` Justus Ranvier
2014-04-23 17:47 ` Gavin Andresen
2014-04-23 17:49 ` Justus Ranvier
2014-04-23 17:57 ` Mike Hearn
2014-04-23 18:04 ` Justus Ranvier
2014-04-23 18:15 ` Peter Todd
2014-04-23 18:20 ` Justus Ranvier
2014-04-23 18:37 ` Mike Hearn
2014-04-23 18:49 ` Justus Ranvier
2014-04-23 19:01 ` Drak
2014-04-23 18:58 ` Tier Nolan
2014-04-23 15:04 ` Alex Mizrahi
2014-04-23 15:09 ` Mike Hearn
2014-04-23 15:38 ` Alex Mizrahi
2014-04-23 16:04 ` Christophe Biocca
2014-04-23 16:19 ` Chris Pacia
2014-04-23 16:21 ` Mike Hearn
2014-04-23 16:33 ` Kevin
2014-04-24 11:22 ` Jorge Timón
2014-04-24 11:43 ` Mike Hearn
2014-04-24 13:57 ` Jorge Timón
2014-04-24 14:28 ` Mike Hearn
2014-04-24 15:37 ` Jorge Timón
2014-04-24 17:07 ` Justus Ranvier
2014-04-25 4:31 ` Gareth Williams
2014-04-25 10:17 ` Mike Hearn
2014-04-25 13:19 ` Gareth Williams
2014-04-25 15:28 ` Mike Hearn
2014-04-26 12:15 ` Gareth Williams
2014-04-27 1:42 ` Christophe Biocca
2014-04-27 12:53 ` Gareth Williams
2014-04-27 14:31 ` Mike Hearn
2014-04-27 23:10 ` Gareth Williams
2014-04-28 21:41 ` Adam Back
2014-04-29 14:13 ` Mike Hearn
2014-04-29 14:21 ` Gregory Maxwell
2014-04-29 14:26 ` Mike Hearn
2014-04-30 13:12 ` Gareth Williams
2014-04-30 13:55 ` Mike Hearn
2014-04-30 14:31 ` Gareth Williams
2014-04-29 19:29 ` Justus Ranvier
2014-04-30 13:00 ` Gareth Williams
2014-04-30 17:06 ` Troy Benjegerdes
2014-04-30 17:13 ` Jameson Lopp
2014-04-30 14:08 ` Gareth Williams
2014-04-23 15:28 ` Peter Todd
2014-04-23 15:34 ` Kevin
2014-04-23 15:41 ` Pieter Wuille
2014-04-23 15:55 ` Peter Todd
2014-04-23 18:57 ` Gregory Maxwell
2014-04-23 19:19 ` Mike Hearn
2014-04-23 19:47 ` Gregory Maxwell
2014-04-23 19:59 ` Mike Hearn
2014-04-23 20:24 ` Gregory Maxwell
2014-04-23 20:37 ` Mike Hearn
2014-04-23 20:44 ` Adam Ritter
2014-04-23 20:51 ` Mike Hearn
2014-04-24 15:13 ` Sergio Lerner
2014-04-24 15:34 ` Mike Hearn
2014-04-23 20:53 ` Gregory Maxwell
2014-04-23 21:23 ` Tier Nolan
2014-04-23 21:39 ` Gregory Maxwell
2014-04-23 22:26 ` Tier Nolan
2014-04-24 0:55 ` Tom Harding
[not found] ` <CAKuKjyWDniyP503XSw8=tK9XQW-T58j+VD6ajXCxz=HihN93mQ@mail.gmail.com>
2014-04-24 14:52 ` Adam Ritter [this message]
2014-04-23 20:41 ` Daniel Krawisz
2014-04-23 22:06 ` Alex Mizrahi
2014-04-24 7:58 ` Mike Hearn
2014-04-24 8:19 ` Gregory Maxwell
2014-04-24 8:39 ` Mike Hearn
2014-04-24 9:25 ` Gregory Maxwell
2014-04-24 9:56 ` Mike Hearn
2014-04-24 13:44 ` Peter Todd
2014-04-24 14:09 ` Mike Hearn
2014-04-24 14:47 ` Christophe Biocca
2014-04-24 15:03 ` Peter Todd
2014-04-24 16:05 ` Christophe Biocca
2014-04-24 16:14 ` Mike Hearn
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