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From: Jeff Garzik <jgarzik@bitpay.com>
To: Adam Back <adam@cypherspace.org>
Cc: Bitcoin Dev <bitcoin-development@lists.sourceforge.net>
Subject: Re: [Bitcoin-development] is there a way to do bitcoin-staging?
Date: Mon, 14 Oct 2013 14:21:04 -0400	[thread overview]
Message-ID: <CAJHLa0MT-7mVOsdvMnXS19Y2EOthHb806RY_JWqivjS6vSL5pQ@mail.gmail.com> (raw)
In-Reply-To: <20131014180807.GA32082@netbook.cypherspace.org>

On Mon, Oct 14, 2013 at 2:08 PM, Adam Back <adam@cypherspace.org> wrote:
> Its a live beta, meaning real value, real contracts.  But we dont want it to
> be an alt-coin with a floating value exactly, we want it to be bitcoin, but
> the bleeding edge bitcoin so we want to respect the 21 million coin limit,
> and allow coins to move between bitcoin and betacoin with some necessary
> security related restrictions.
>
> There is no mining reward on the betacoin network (can be merge mined for
> security), and the way you opt to move a bitcoin into the betacoin network
> is to mark it as transferred in some UTXO recognized way.  It cant be
> reanimated, its dead.  (eg spend to a specific recognized invalid address on
> the bitcoin network).  In this way its not really a destruction, but a move,
> moving the coin from bitcoin to betacoin network.
>
> This respects the 21 million coin cap, and avoids betacoin bugs flowing back
> and affecting bitcoin security or value-store properties.  Users may buy or
> swap betacoin for bitcoin to facilitate moving money back from betacoin to
> bitcoin.  However that is market priced so the bitcoin network is security
> insulated from beta.  A significant security bug in beta would cause a
> market freeze, until it is rectified.

Quite a neat idea...


> - it avoids mindshare dilution if alternatively an alt-coin with a hit
>    missing feature takes off;

FWIW, litecoin devs are open to having litecoin be a bit of a staging
area for new bitcoin features.  Obviously there is some self-interest
there -- "we have new cool stuff first!" -- nevertheless, it is a live
test that could demonstrate problems with new features before they
land in bitcoin-stable.

-- 
Jeff Garzik
Senior Software Engineer and open source evangelist
BitPay, Inc.      https://bitpay.com/



  reply	other threads:[~2013-10-14 18:21 UTC|newest]

Thread overview: 27+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
2013-05-19 13:23 [Bitcoin-development] is there a way to do bitcoin-staging? Adam Back
2013-05-19 15:08 ` Peter Vessenes
2013-05-20  6:34   ` Alan Reiner
2013-10-14 18:08     ` Adam Back
2013-10-14 18:21       ` Jeff Garzik [this message]
2013-11-21 20:22       ` coinscoins
2013-11-21 20:35       ` Melvin Carvalho
2013-11-21 21:11         ` [Bitcoin-development] bitcoin 1.x & 0.x in parallel (Re: is there a way to do bitcoin-staging?) Adam Back
2014-03-16 22:58       ` [Bitcoin-development] 2-way pegging " Adam Back
2014-03-16 23:22         ` Jorge Timón
2014-03-17 15:55         ` Gregory Maxwell
2013-10-14 18:43     ` [Bitcoin-development] is there a way to do bitcoin-staging? Michael Gronager
2013-10-14 20:20       ` Alan Reiner
2013-05-22  3:37   ` zooko
2013-05-22  4:12     ` Jeff Garzik
2013-05-20  7:12 ` Luke-Jr
2013-06-13 13:39 ` Adam Back
2013-06-14 19:20   ` Peter Todd
2013-06-14 20:50     ` Adam Back
2013-06-14 21:10       ` Luke-Jr
2013-06-14 21:25         ` Andreas Petersson
2013-06-15  0:09           ` Dennison Bertram
2013-06-15  1:57             ` Luke-Jr
2013-06-15  8:43               ` Dennison Bertram
2013-06-15 11:18 ` Melvin Carvalho
2013-06-15 13:26   ` Dennison Bertram
2013-06-16 15:46     ` Dennison Bertram

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