Re: [Bitcoin-development] replace-by-fee v0.10.0rc4

[Allen Piscitello <allen.piscitello@gmail.com>]

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Nothing will stop that.  Bitcoin needs to deal with those issues, not stick
our heads in the sand and pretend they don't exist out of benevolence.
This isn't a pet solution, but the rules of the protocol and what is
realistically possible given the nature of distributed consensus.  Relying
on altruism is a recipe for failure.

On Thu, Feb 12, 2015 at 1:34 PM, Justus Ranvier <justusranvier@riseup.net>
wrote:

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> On 02/12/2015 07:15 PM, Alan Reiner wrote:
> > I'll add fuel to the fire here, and express that I believe that
> > replace-by-fee is good in the long-term.  Peter is not breaking
> > the zero-conf, it was already broken, and not admitting it creates
> > a false sense of security.  I don't want to see systems that are
> > built on the assumption that zero-conf tx are safe solely because
> > it has always appeared safe.  You can argue about rational miner
> > behaviors all day, but in a decentralized system you have no idea
> > what miners consider rational, or speculate about their incentives.
> >
> As noted elsewhere in the thread, there are two problems with this
> analysis:
>
> 1. It asserts that zero-confirmation transactions are in a binary
> state of safe/broken instead of recognizing that relying on them is a
> non-binary risk analysis on the part of a merchant.
>
> 2. Assumptions about what is profitable for miners are based on all
> miners having short time horizons for calculating profits.
>
> In addition, I'll add that there is an assumption that honest actors
> can not alter their behavior in response to changing conditions.
>
> Since scorched-earth solutions to problems are apparently acceptable
> now, what would stop more honest node operators from patching their
> nodes to blacklist any peer that relays replace-by-fee transactions,
> and maybe even publish an IP address list of those peers?
>
> Punishing Bitcoin users for not adopting somebody's pet solution to a
> problem neither responsible nor ethical.
>
> Child-pays-for-parent allows for stuck transactions to be cleared from
> the mempool, and allows recipients of zero-conf transactions to adjust
> their risk exposure as much or as little as they like.
>
> It's a solution that gives Bitcoin users more freedom, instead of
> trying to coerce them into pre-determined directions.
>
> - --
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> Learn how here: http://www.youtube.com/watch?v=bakOKJFtB-k
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