Re: [Bitcoin-development] Double spending and replace by fee

[Adrian Macneil <adrian@coinbase.com>]

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Fwiw, Coinbase relies on the current first-seen mempool behaviour. Wide adoption of RBF (without a suitable replacement available) would make it extremely difficult to pitch bitcoin as a viable alternative to credit cards payments to large merchants.

Adrian

> On Mar 28, 2015, at 7:22 AM, Peter Todd <pete@petertodd.org> wrote:
> 
> Signed PGP part
> Would you so us all a favor and make a list of companies *actually* relying on "first-seen" mempool behaviour. Because I've been having a hard time actually finding anyone who does who hasn't given up on it. Not very useful to talk about attacks against hypothetical defences.
> 
> On 28 March 2015 09:58:53 GMT-04:00, Mike Hearn <mike@plan99.net> wrote:
> >I've written a couple of blog posts on replace by fee and double
> >spending
> >mitigations. They sum up the last few years (!) worth of discussions on
> >this list and elsewhere, from my own perspective.
> >
> >I make no claim to be comprehensive or unbiased but I keep being asked
> >about these topics so figured I'd just write up my thoughts once so I
> >can
> >send links instead of answers :) And then so can anyone who happens to
> >agree.
> >
> >(1) Replace by fee scorched earth, a counter argument:
> >
> >https://medium.com/@octskyward/replace-by-fee-43edd9a1dd6d
> >
> >This article lays out the case against RBF-SE and argues it is harmful
> >to
> >Bitcoin.
> >
> >(2) Double spending and how to make it harder:
> >
> >https://medium.com/@octskyward/double-spending-in-bitcoin-be0f1d1e8008
> >
> >This article summarises a couple of double spending incidents against
> >merchants and then discusses the following techniques:
> >
> >   1. Risk analysis of transactions
> >   2. Payment channels
> >   3. Countersigning by a trusted third party
> >   4. Remote attestation
> >   5. ID verification
> >   6. Waiting for confirmations
> >   7. Punishment of double spending blocks
> >
> >I hope the material is useful / interesting.
> >
> >
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