From mboxrd@z Thu Jan 1 00:00:00 1970 Return-Path: Received: from whitealder.osuosl.org (smtp1.osuosl.org [140.211.166.138]) by lists.linuxfoundation.org (Postfix) with ESMTP id AD4D4C0051 for ; Sat, 22 Aug 2020 16:47:34 +0000 (UTC) Received: from localhost (localhost [127.0.0.1]) by whitealder.osuosl.org (Postfix) with ESMTP id 9C57987E2F for ; Sat, 22 Aug 2020 16:47:34 +0000 (UTC) X-Virus-Scanned: amavisd-new at osuosl.org Received: from whitealder.osuosl.org ([127.0.0.1]) by localhost (.osuosl.org [127.0.0.1]) (amavisd-new, port 10024) with ESMTP id owxBEgo6tpbI for ; Sat, 22 Aug 2020 16:47:33 +0000 (UTC) X-Greylist: from auto-whitelisted by SQLgrey-1.7.6 Received: from newmail.dtrt.org (li1228-87.members.linode.com [45.79.129.87]) by whitealder.osuosl.org (Postfix) with ESMTPS id 99F2D87E2B for ; Sat, 22 Aug 2020 16:47:33 +0000 (UTC) Received: from harding by newmail.dtrt.org with local (Exim 4.92) (envelope-from ) id 1k9Wfz-0006wk-Qj; Sat, 22 Aug 2020 12:47:31 -0400 Date: Sat, 22 Aug 2020 12:46:20 -0400 From: "David A. Harding" To: Thomas Hartman , Bitcoin Protocol Discussion Message-ID: <20200822164619.vh3rdmdqf6vlmcji@ganymede> References: MIME-Version: 1.0 Content-Type: multipart/signed; micalg=pgp-sha512; protocol="application/pgp-signature"; boundary="l5bv5a6itujcvsvb" Content-Disposition: inline In-Reply-To: User-Agent: NeoMutt/20180716 Subject: Re: [bitcoin-dev] reviving op_difficulty X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.15 Precedence: list List-Id: Bitcoin Protocol Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Sat, 22 Aug 2020 16:47:34 -0000 --l5bv5a6itujcvsvb Content-Type: text/plain; charset=us-ascii Content-Disposition: inline Content-Transfer-Encoding: quoted-printable On Sun, Aug 16, 2020 at 11:41:30AM -0400, Thomas Hartman via bitcoin-dev wr= ote: > First, I would like to pay respects to tamas blummer, RIP. >=20 > https://bitcoinmagazine.com/articles/remembering-tamas-blummer-pioneering= -bitcoin-developer RIP, Tamas. > Tamas proposed an additional opcode for enabling bitcoin difficulty > futures, on this list at >=20 > https://www.mail-archive.com/bitcoin-dev@lists.linuxfoundation.org/msg079= 91.html Subsequent to Blummer's post, I heard from Jeremy Rubin about a scheme[1] that allows difficulty futures without requiring any changes to Bitcoin. In short, it takes advantage of the fact that changes in difficulty also cause a difference in maturation time between timelocks and height-locks. As an simple example: 1. Alice and Bob create an unsigned transaction that deposits their money into a 2-of-2 multisig. 2. They cooperate to create and sign two conflicting spends from the multis= ig: a. Pays Alice with an nLockTime(height) of CURRENT_HEIGHT + 2016 blocks b. Pays Bob with an nLockTime(time) of CURRENT_TIME + 2016 * 10 * 60 se= conds 3. After both conflicting spends are signed, Alice and Bob sign and broadcast the deposit transaction from #1. 4. If hashrate increases during the subsequent period, the spend that pays Alice will mature first, so she broadcasts it and receives that money. If hashrate decreases, the spend to Bob matures first, so he receives the money. Of course, this basic formula can be tweaked to create other contracts, e.g. a contract that only pays if hashrate goes down more than 25%. As far as I can tell, this method should be compatible with offchain commitments (e.g. payments within channels) and could be embedded in a taproot commitment using OP_CLTV or OP_CSV instead of nLockTime. -Dave [1] https://powswap.com/ --l5bv5a6itujcvsvb Content-Type: application/pgp-signature; name="signature.asc" -----BEGIN PGP SIGNATURE----- iQIzBAEBCgAdFiEEgxUkqkMp0LnoXjCr2dtBqWwiadMFAl9BS9sACgkQ2dtBqWwi adP+hxAAg7uPYPtIXTpa7H0+3sSrqcgNiXwbe52Pj0YTxgeb0f6TK4F/cvJ68zDE oDHlep5kVopfvhVD1bq6+XB3RFrKHPGIq1gt1EtRrabAD5oD8VyqE/7vj4icwGUQ k8yVPQyX6h/sdZJvB2GMMUXVL0Zq2Lkex63DSVHvaI42Damd7SCLqgRNwb0frr9E PUea8BnBNb55dKWHI2RW3XVfnryp1FfudB+K3iKHpJ2h3C7osUCyx5d9sg+YPxKZ 9ShmJK2Qn5xhDnnJfYuSwT8mehJ8mO6YlrL/YQNcKGYhSOxFWXiVTGFWXgs6Jvip DoEPN+c17bVLOjH1CfTacptMUoairrV6U4oawpgrJeMnGPq36zaCT94zV1yJGxaH GODvAJIha+PSFRGzbT71geeHMxjc2qfjGhp8PqIBQz5NiBjdCC2DPwcKK0Uck2pz 34pf604XMTbLYYmBshQ19kfTQW3kzUi0lcLdShxkif9Ewov5MMqxmxKAtLGdbps2 V5TxBUnTc0d6n88encuKbiit3wAaWBA2rZl27YDwqWH0p5t3Cj8F3HaDP3FyWTp2 1d78yXk+61jkg4jCicSx7upReqX03gQcQ8PnOu18ULSluFc2fYeIC5X33moVWf2J E4D6p3yVD7+SsXNqbjcUOVKoMd9rHEmYwzvtRkxyP0IVAWsXgkQ= =Xt3l -----END PGP SIGNATURE----- --l5bv5a6itujcvsvb--