Peter Todd [ARCHIVE] on Nostr: 📅 Original date posted:2014-10-01 📝 Original message:-----BEGIN PGP SIGNED ...

📅 Original date posted:2014-10-01
📝 Original message:-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA256



On 1 October 2014 11:23:55 GMT-07:00, Luke Dashjr <luke at dashjr.org> wrote:
>Thoughts on some way to have the stack item be incremented by the
>height at
>which the scriptPubKey was in a block?

Better to create a GET-TXIN-BLOCK-(TIME/HEIGHT)-EQUALVERIFY operator. scriptPubKey would be:

GET-TXIN-BLOCKHEIGHT-EQUALVERIFY

(fails unless top stack item is equal to the txin block height)

<delta height> ADD

(top stack item is now txin height + delta height)

CHECKLOCKTIMEVERIFY

> A limitation of encoding the
>target
>height/time directly, is that miners may choose not to mine the first
>transaction until they can also take the "burn to fee". So, one may
>prefer to
>say "cannot be spent until 100 blocks after the first transaction is
>mined",
>in effect reproducing the generation maturity rule.

You'd want these sacrifices to unlock years into the future to thoroughly exceed any reasonable business cycle; that's so far into the future that miners are almost certain to just mine them and collect the fees.
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