I'm trying to think through how to encourage the maximum number of instant signature providers and avoid the VISA monopoly. Ideal case would be that people can even be their own instant provider.

What if the protocol allowed multiple instant signatures on a transaction? Would it encourage more instant providers? For example, a new instant provider could bootstrap their own trust by paying an already trusted instant provider to co-sign the same transaction. This would be useful in the case that a new company tries to release a new wallet once the trust ring is already established. Nobody will use that wallet because it does not have the trusted history to do instant transactions, but if they can pay a small amount per transaction to a third party to cosign, they can build trust in their own signature till they can eventually have enough trust on their own. This could be how an individual user could grow trust in their own instant signature as well.


On Mon, Jun 16, 2014 at 11:09 AM, Mike Hearn <mike@plan99.net> wrote:
I think many of us feel it'd be better if this kind of thing were not needed at all, however, the best way to ensure it doesn't end up being used is to write code, not to try and block alternative approaches. If Bitcoin is robust the market should sort it out. If it's robust for some transactions and not others, that makes for a fun project for a future generation of hackers to sort out.

OK, enough philosophy - let's try and keep this thread just for discussion of the BIP itself from now on. If you'd like to continue debating the Future of Bitcoin please change the subject line and break it out into a new thread.

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