Subject: Re: [bitcoindev] Post-Quantum commit / reveal Fawkescoin variant as a soft fork

From: Peter Todd <[email-masked]>
Date: Mon, 2 Jun 2025 11:24:36 +0000

On Fri, May 30, 2025 at 03:00:41PM -0700, Jonathan Voss wrote:
> As far as I can tell, the main flaw in commit/reveal protocols is in the 
> commit phase: if revealing a commitment with N confirmations is required to 
> spend bitcoins, then, without spending any bitcoins, how do you get the 
> commitment into the blockchain in the first place? Maybe I am just 
> misunderstanding this. If so, then a commit/reveal scheme may be a workable 
> solution.

You can always purchase new BTC to perform the commitment.

Indeed, this problem is often seen in alt-coins where fees must be paid in a
native asset, while users are trying to send some kind of tokenized asset like
a USD token. You can have funds that you can't move because you don't have the
correct asset. While annoying, this isn't a fatal problem.

-- 
https://petertodd.org 'peter'[:-1]@petertodd.org

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