[Bitcoin-development] Feedback request: colored coins protocol

Flavien Charlon flavien.charlon at predictious.com
Thu Apr 10 12:19:18 UTC 2014

Thanks for the valuable feedback. I see there is a strong concern with
requiring a large BTC capital for issuing coloring coins, so I am now in
the process of modifying the specification to address that. I will post an
update when this is finished.

By the way, padding doesn't solve the issue entirely (issuing 10 billion
shares sill takes you 100 BTC, even with padding and 1 satoshi = 1 share),
so I am going for the solution where the asset quantity of every output is
explicitly encoded in the OP_RETURN output. That way, whether you are
issuing 1 share or 100 trillions, you never need to pay more than 540

On Mon, Apr 7, 2014 at 8:58 PM, Alex Mizrahi <alex.mizrahi at gmail.com> wrote:

> This is beyond ridiculous...
> Color kernel which works with padding is still quite simple. I think we
> have extra 10-50 lines of code to handle padding in coloredcoinlib.
> Essentially we have a couple of lines like this :
>     value_wop = tx.outputs[oi].value - padding
> (value_wop means "value without padding").
> And then we have like 10 lines of code which selects padding for a
> transaction.
> That's not a lot of extra complexity. And it solves the problem once and
> for all.
> What you propose instead: "a different colored coin representing 10
> shares, and another one representing 100 shares (like the different
> denominations of dollar bills)"  is much more complex, and it won't work:
> Suppose you have $100 coin, as a single coin.
> How do you send $54.23?
> That's simply impossible.
> So you'd rather push complexity to higher levels (and create inconvenience
> for end users, as you admitted yourself) than add 10-50 lines of code to
> color kernel?
> I just do not understand this.
> But I'm not going to argue. I already wrote everything which I could write
> on this topic.
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