[Bitcoin-development] Double Spend Notification
btcdev at quinnharris.me
Tue May 21 16:47:59 UTC 2013
What if a transaction is tagged as eligible for replace by fee possibly
using the lock_time (0xFFFFFFFE) so the parties involved can decide
which approach works best for them. If the receiving side doesn't see
the type of transaction they want they consider it invalid. The payment
protocol can be used to negotiate which method should be used.
If lock_time is final as it is now for all standard transactions, the
current behaviour for transaction propagation would be kept with the
addition of double spend proof notifications as I described. But if the
transactions are tagged appropriately, they would be replaced by fee.
In the recommended implementation, once a node sees a transaction that
is not eligible to be replaced by fee it would treat all successive
transactions that way despite the tag.
This shouldn't hurt merchants that wish to use just double spend
notification while still enabling replace by fee for those who think it
I do find the burn coins and buyer pays twice with a merchant refund to
be compelling solutions, but you can't always trust the merchant (face
to face street merchant). Also, there is a short window of time were a
block can be mined before the burn coin counter measure is received. It
is isn't guaranteed this will work better than current behaviour with
double spend notification especially considering notification don't cost
the merchant when it works.
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