From: Mike Hearn <mike@plan99•net>
To: Chris Pacia <ctpacia@gmail•com>
Cc: Bitcoin Dev <bitcoin-development@lists•sourceforge.net>
Subject: Re: [Bitcoin-development] 0 confirmation txs using replace-by-fee and game theory
Date: Thu, 24 Apr 2014 14:15:13 +0200 [thread overview]
Message-ID: <CANEZrP0fjzuUKh0Jmk9c99ne81hdxZdTnhw6sq47Na7AC4n04A@mail.gmail.com> (raw)
In-Reply-To: <CAB+qUq7=o05GgCNdTtH=cuW56qbjg5v0ZpxvCYmCPj1AvFui+g@mail.gmail.com>
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>
> This scheme would discourage people from attempting a Finney attack
> because they would end up worse off if they did.
>
Phrased another way, it simply makes every block a Finney attack that
charges the maximum double spending fee possible. This doesn't solve the
problem.
Beyond needing to double balances, what if the shop is selling me a phone
on contract? So the actual cost of the phone is lower than the real price
on the assumption of future revenue. Alice double spends (aka steals) the
phone, paying double the artifically lower cost but still making a good
saving. Bob does not end up with "nothing", he ends up in the red.
But there's a much simpler way to dispose with this idea. Jorge, go down to
your local bars and cafes, and ask them if they'd be willing to accept a
form of payment that allows anyone to steal from them by simply paying
double the purchase price to some other random guy. They *will* look at you
as if you're crazy. Why would they ever do that?
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next prev parent reply other threads:[~2014-04-24 12:15 UTC|newest]
Thread overview: 13+ messages / expand[flat|nested] mbox.gz Atom feed top
2014-04-24 10:48 Jorge Timón
2014-04-24 11:54 ` Mike Hearn
2014-04-24 12:07 ` Chris Pacia
2014-04-24 12:15 ` Mike Hearn [this message]
2014-04-24 14:49 ` Jorge Timón
2014-04-24 15:45 ` Mike Hearn
2014-04-24 17:13 ` Jannis Froese
2014-06-19 3:47 ` Isidor Zeuner
2014-04-25 4:51 ` Gareth Williams
2014-04-25 10:19 ` Mike Hearn
2014-04-25 13:38 ` Gareth Williams
2014-04-24 12:59 ` Peter Todd
2014-04-24 14:20 ` Jorge Timón
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