justusranvier at riseup.net [ARCHIVE] on Nostr: đź“… Original date posted:2015-06-19 đź“ť Original message:-----BEGIN PGP SIGNED ...
đź“… Original date posted:2015-06-19
đź“ť Original message:-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA512
On 2015-06-19 16:42, Eric Lombrozo wrote:
> If we want a non-repudiation mechanism in the protocol, we should
> explicitly define one rather than relying on “prima facie”
> assumptions. Otherwise, I would recommend not relying on the existence
> of a signed transaction as proof of intent to pay…
Again, I'm not talking about any changes to the protocol. The mining
mechanism in the Bitcoin protocol is the fallback method of resolving
fraud that isn't prevented or resolved via other mechanisms.
There are plenty of other ways economic actors resolve their
disagreements other than blockchain adjudication. Sometimes when both
parties are identified and reside in the same legal jurisdiction,
contract violations and fraud can be adjudicated in courts. In some
situations, the parties involved may have access to private dispute
resolution techniques.
Sometimes the stakeholders in the network act to preserve the long term
value of their investments, even if it means passing short-term profits.
The more of those stakeholders there are in Bitcoin, the more effective
it is to make the case for choices that are long-term beneficial.
The degree to which anyone should rely on a signed transaction as
assurance of future payment is not a question with a universal answer.
It depends on the particular details of the situation, and the parties
involved, and their own risk tolerances and time preferences. There's no
right answer for everyone, which is why "let's break zeroconf because
*I* don't think it's safe enough" is a kind of vandalism.
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đź“ť Original message:-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA512
On 2015-06-19 16:42, Eric Lombrozo wrote:
> If we want a non-repudiation mechanism in the protocol, we should
> explicitly define one rather than relying on “prima facie”
> assumptions. Otherwise, I would recommend not relying on the existence
> of a signed transaction as proof of intent to pay…
Again, I'm not talking about any changes to the protocol. The mining
mechanism in the Bitcoin protocol is the fallback method of resolving
fraud that isn't prevented or resolved via other mechanisms.
There are plenty of other ways economic actors resolve their
disagreements other than blockchain adjudication. Sometimes when both
parties are identified and reside in the same legal jurisdiction,
contract violations and fraud can be adjudicated in courts. In some
situations, the parties involved may have access to private dispute
resolution techniques.
Sometimes the stakeholders in the network act to preserve the long term
value of their investments, even if it means passing short-term profits.
The more of those stakeholders there are in Bitcoin, the more effective
it is to make the case for choices that are long-term beneficial.
The degree to which anyone should rely on a signed transaction as
assurance of future payment is not a question with a universal answer.
It depends on the particular details of the situation, and the parties
involved, and their own risk tolerances and time preferences. There's no
right answer for everyone, which is why "let's break zeroconf because
*I* don't think it's safe enough" is a kind of vandalism.
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