public inbox for bitcoindev@googlegroups.com
 help / color / mirror / Atom feed
From: Troy Benjegerdes <hozer@hozed.org>
To: Peter Todd <pete@petertodd.org>
Cc: bitcoin-development@lists.sourceforge.net
Subject: Re: [Bitcoin-development] Handling miner adoption gracefully for embedded consensus systems via double-spending/replace-by-fee
Date: Sat, 22 Mar 2014 10:08:36 -0500	[thread overview]
Message-ID: <20140322150836.GG3180@nl.grid.coop> (raw)
In-Reply-To: <20140322084702.GA13436@savin>

On Sat, Mar 22, 2014 at 04:47:02AM -0400, Peter Todd wrote:
> There's been a lot of recent hoopla over proof-of-publication, with the
> OP_RETURN <data> length getting reduced to a rather useless 40 bytes at
> the last minute prior to the 0.9 release. Secondly I noticed a
> overlooked security flaw in that OP_CHECKMULTISIG sigops weren't taken
> into account, making it possible to broadcast unminable transactions and
> bloat mempools.(1) My suggestion was to just ditch bare OP_CHECKMULTISIG
> outputs given that the sigops limit and the way they use up a fixed 20
> sigops per op makes them hard to do fee calculations for. They also make
> it easy to bloat the UTXO set, potentially a bad thing. This would of
> course require things using them to change. Currently that's just
> Counterparty, so I gave them the heads up in my email.

I've spend some time looking at the Datacoin code, and I've come to the 
conclusion the next copycatcoin I release will have an explicit 'data' 
field with something like 169 bytes (a bakers dozen squared), which will 
add 1 byte to each transaction if unused, and provide a small, but usable
data field for proof of publication. As a new coin, I can also do a
hardfork that increases the data size limit much easier if there is a
compelling reason to make it bigger.

I think this will prove to be a much more reliable infrastructure for 
proof of publication than various hacks to overcome 40 byte limits with
Bitcoin.

I am disclosing this here so the bitcoin 1% has plenty of time to evaluate
the market risk they face from the 40 byte limit, and put some pressure to
implement some of the alternatives Todd proposes.

-- 
----------------------------------------------------------------------------
Troy Benjegerdes                 'da hozer'                  hozer@hozed.org
7 elements      earth::water::air::fire::mind::spirit::soul        grid.coop

      Never pick a fight with someone who buys ink by the barrel,
         nor try buy a hacker who makes money by the megahash




  parent reply	other threads:[~2014-03-22 15:08 UTC|newest]

Thread overview: 36+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
2014-03-22  8:47 [Bitcoin-development] Handling miner adoption gracefully for embedded consensus systems via double-spending/replace-by-fee Peter Todd
2014-03-22 13:53 ` Jorge Timón
2014-03-22 19:34   ` Peter Todd
2014-03-22 20:12     ` Jorge Timón
2014-03-23 23:17       ` Troy Benjegerdes
2014-03-23 23:53         ` Mark Friedenbach
2014-03-24 20:34           ` Troy Benjegerdes
2014-03-24 20:57             ` Mark Friedenbach
2014-03-25 22:10               ` Troy Benjegerdes
2014-03-26  1:09                 ` kjj
2014-03-22 15:08 ` Troy Benjegerdes [this message]
2014-03-22 17:04   ` Mark Friedenbach
2014-03-22 19:08   ` Peter Todd
2014-03-23 22:37     ` Troy Benjegerdes
     [not found]     ` <532DE7E6.4050304@monetize.io>
2014-03-25 12:28       ` [Bitcoin-development] Tree-chains preliminary summary Peter Todd
2014-03-25 12:45         ` Gavin Andresen
2014-03-25 13:49           ` Peter Todd
2014-03-25 15:20             ` Mike Hearn
2014-03-25 16:47               ` Peter Todd
2014-03-25 17:37             ` Jeff Garzik
2014-03-25 18:02               ` Alan Reiner
2014-03-25 18:13                 ` slush
2014-03-25 19:47                   ` Peter Todd
2014-03-25 21:41                     ` Troy Benjegerdes
2014-03-25 20:40             ` Ricardo Filipe
2014-03-25 22:00               ` Troy Benjegerdes
2014-03-26 10:58               ` Peter Todd
2014-03-25 12:50         ` Peter Todd
2014-03-25 21:03         ` Mark Friedenbach
2014-03-25 22:34           ` Gregory Maxwell
2014-03-27 16:14             ` Jorge Timón
2014-03-28 15:10               ` Troy Benjegerdes
2014-04-17 21:41                 ` Tier Nolan
2014-03-26 10:48           ` Peter Todd
2014-08-03 17:23         ` Gregory Sanders
2014-03-24 21:17 ` [Bitcoin-development] Handling miner adoption gracefully for embedded consensus systems via double-spending/replace-by-fee Luke-Jr

Reply instructions:

You may reply publicly to this message via plain-text email
using any one of the following methods:

* Save the following mbox file, import it into your mail client,
  and reply-to-all from there: mbox

  Avoid top-posting and favor interleaved quoting:
  https://en.wikipedia.org/wiki/Posting_style#Interleaved_style

* Reply using the --to, --cc, and --in-reply-to
  switches of git-send-email(1):

  git send-email \
    --in-reply-to=20140322150836.GG3180@nl.grid.coop \
    --to=hozer@hozed.org \
    --cc=bitcoin-development@lists.sourceforge.net \
    --cc=pete@petertodd.org \
    /path/to/YOUR_REPLY

  https://kernel.org/pub/software/scm/git/docs/git-send-email.html

* If your mail client supports setting the In-Reply-To header
  via mailto: links, try the mailto: link
Be sure your reply has a Subject: header at the top and a blank line before the message body.
This is a public inbox, see mirroring instructions
for how to clone and mirror all data and code used for this inbox