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From: Luke Dashjr <luke@dashjr.org>
To: Peter Todd <pete@petertodd.org>
Cc: bitcoin-development@lists.sourceforge.net
Subject: Re: [Bitcoin-development] [BIP draft] CHECKLOCKTIMEVERIFY - Prevent	a txout from being spent until an expiration time
Date: Thu, 2 Oct 2014 00:55:36 +0000	[thread overview]
Message-ID: <201410020055.37347.luke@dashjr.org> (raw)
In-Reply-To: <CE356B97-E5AC-4A04-B67C-A542D070F1C5@petertodd.org>

On Thursday, October 02, 2014 12:05:15 AM Peter Todd wrote:
> On 1 October 2014 11:23:55 GMT-07:00, Luke Dashjr <luke@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

This sounds do-able, although it doesn't address using timestamps.

> > 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.

For many use cases, short maturity periods are just as appropriate IMO.

Luke



  reply	other threads:[~2014-10-02  0:55 UTC|newest]

Thread overview: 46+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
2014-10-01 13:08 [Bitcoin-development] [BIP draft] CHECKLOCKTIMEVERIFY - Prevent a txout from being spent until an expiration time Peter Todd
2014-10-01 15:01 ` Gavin Andresen
2014-10-02  1:06   ` Peter Todd
2014-10-01 15:29 ` Sergio Lerner
2014-10-01 17:06   ` Peter Todd
2014-10-01 18:23 ` Luke Dashjr
2014-10-01 20:58   ` Gavin Andresen
2014-10-01 21:04     ` Alan Reiner
2014-10-01 21:34       ` Gavin Andresen
2014-10-02  0:12         ` Peter Todd
2014-10-02  0:05   ` Peter Todd
2014-10-02  0:55     ` Luke Dashjr [this message]
2014-10-02  1:09       ` Peter Todd
2014-10-02 15:05         ` Flavien Charlon
2014-10-03 14:28           ` Matt Whitlock
2014-10-03 14:30             ` Matt Whitlock
2014-10-03 16:17             ` Gregory Maxwell
2014-10-03 17:50             ` Luke Dashjr
2014-10-03 20:58               ` Mike Hearn
2014-10-03 23:12                 ` Jeff Garzik
2014-10-04  0:38                   ` Peter Todd
2014-10-04 12:58                     ` Mike Hearn
2014-10-07 15:50                       ` Gavin Andresen
2014-10-07 16:08                         ` Mike Hearn
2014-10-08 10:26                           ` Wladimir
2014-10-09  3:13                             ` Alan Reiner
2014-10-09  6:14                               ` Adam Back
2014-10-09  6:28                                 ` Gregory Maxwell
2014-10-09  6:33                                   ` Peter Todd
2014-10-09  6:40                                     ` Gregory Maxwell
2014-10-08  4:07                         ` Tom Harding
2014-10-08 10:15                           ` Mike Hearn
2015-03-16 22:22 ` [Bitcoin-development] Relative CHECKLOCKTIMEVERIFY (was CLTV proposal) Matt Corallo
2015-03-19 17:39   ` Zooko Wilcox-OHearn
2015-04-21  7:59   ` Peter Todd
2015-04-26 11:35     ` Jorge Timón
2015-04-26 12:20       ` Jorge Timón
2015-04-27 19:35         ` Peter Todd
2015-04-28  7:44           ` Jorge Timón
2015-05-04  2:15     ` Matt Corallo
2015-05-04 11:24       ` Jorge Timón
2015-05-05  0:41         ` Btc Drak
2015-05-05 19:19           ` Jorge Timón
2015-05-05 20:38         ` Tier Nolan
2015-05-06  7:37           ` Jorge Timón
2015-05-06 22:09             ` Tier Nolan

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