Re: [bitcoin-dev] A BIP proposal for transactions that are 'cancellable'

[Terry McLaughlin <papawnana4541@gmail.com>]

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Please help me guide me in the direction I need to go

On Thursday, September 6, 2018, Brandon Smith via bitcoin-dev <
bitcoin-dev@lists.linuxfoundation.org> wrote:

> I made a similar proposal about 7 months ago, and documented some of the
> discussion points here:
>
> https://github.com/reardencode/bips/blob/reverselocktime/bip-0zzz.
> mediawiki
>
> On 2018-09-06 (Thu) at 15:16:34 +0000, Gregory Maxwell via bitcoin-dev
> wrote:
> > Functionality such as this does not currently exist not because no one
> > thought of it before, but because it has been proposed many times
> > before and determined to be harmful.  The existing design of CLTV/CSV
> > were carefully constructed to make it impossible for a transaction to
> > go from valid to invalid based on the time. The most naive
> > construction-- e.g. push the current time/height on the stack-- would
> > have that property and was specifically avoided.
> >
> > When a spend goes from valid to invalid it means that a reorganization
> > will destroy coins even completely absent any dishonest actions of the
> > coins prior owner in the coins recent casual history. Effectively a
> > coin with any kind of non-monotone validity event in its recent
> > history functions like a recently generated coin: a coin that reorgs
> > destroy. Bitcoin addresses the issue for recently generated coins by
> > not permitting their use for 100 blocks.  I've yet to see an argument
> > for a use case for non-monotone validity that still sounds useful once
> > the negative effects are addressed (e.g. by subjecting coins that have
> > gone through them to a maturity limitation).
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