> This breaks existing invariants and would make the coins potentially less fungible because they wouldn't be reorg safe.

I'm not sure coins are ever reorg safe. All it takes is a double spend in the history of your coins for them to become invalid after a reorg. Because of that, there are already less fungible coins. This is why we recommend 6 confirmations for important payments.

On Fri, Nov 28, 2014 at 3:18 AM, Peter Todd <pete@petertodd.org> wrote:
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On 27 November 2014 18:46:23 GMT-05:00, Gregory Maxwell <gmaxwell@gmail.com> wrote:

<snip 100% accurate commentary from gmaxwell>

>The things you're suggesting were all carefully designed out of the
>proposal, perhaps the BIP text needs some more clarification to make
>this more clear.

It does; it is still a draft. That said I think writing up some actual working examples, in code, of CHECKLOCKTIMEVERIFY using protocols is a bigger priority. Micropayment channels comes to mind, as well as a greenaddress-style wallet.

When I get a chance I'm going to rebase the initial implementation and add to it a command-line-flag to verify CHECKLOCKTIMEVERIFY as an IsStandard() rule for testing purposes.
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