Jeff Garzik [ARCHIVE] on Nostr: 📅 Original date posted:2015-06-19 📝 Original message:Double spend detection is ...

📅 Original date posted:2015-06-19
📝 Original message:Double spend detection is by definition best-effort.

The purpose of bitcoin is to provide security (confirmations) to otherwise
insecure, possibly double spent transactions.




On Fri, Jun 19, 2015 at 2:05 PM, Frank Flores <frankf44 at gmail.com> wrote:

> Has anyone from Mycelium weighed in on this? Is their doublespend attack
> detection broken with this kind of irresponsible behavior?
>
> On Fri, Jun 19, 2015 at 3:39 PM, Matt Whitlock <bip at mattwhitlock.name>
> wrote:
>
>> On Friday, 19 June 2015, at 9:18 am, Adrian Macneil wrote:
>> > If full-RBF sees any significant adoption by miners, then it will
>> actively
>> > harm bitcoin adoption by reducing or removing the ability for online or
>> POS
>> > merchants to accept bitcoin payments at all.
>>
>> Retail POS merchants probably should not be accepting vanilla Bitcoin
>> payments, as Bitcoin alone does not (and cannot) guarantee the
>> irreversibility of a transaction until it has been buried several blocks
>> deep in the chain. Retail merchants should be requiring a co-signature from
>> a mutually trusted co-signer that vows never to sign a double-spend. The
>> reason we don't yet see such technology permeating the ecosystem is
>> because, to date, zero-conf transactions have been irreversible "enough,"
>> but this has only been a happy accident; it was never promised, and it
>> should not be relied upon.
>>
>>
>> ------------------------------------------------------------------------------
>> _______________________________________________
>> Bitcoin-development mailing list
>> Bitcoin-development at lists.sourceforge.net
>> https://lists.sourceforge.net/lists/listinfo/bitcoin-development
>>
>
>
>
> --
> *MONEY IS OVER!*
> IF YOU WANT IT
> <http://www.zeitgeistmovie.com/>;
> =====================================================
> The causes of my servitude can be traced to the tyranny of money.
> -Serj Tankian
>
>
> ------------------------------------------------------------------------------
>
> _______________________________________________
> Bitcoin-development mailing list
> Bitcoin-development at lists.sourceforge.net
> https://lists.sourceforge.net/lists/listinfo/bitcoin-development
>
>


--
Jeff Garzik
Bitcoin core developer and open source evangelist
BitPay, Inc. https://bitpay.com/
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20150619/a36b7617/attachment.html>;