[Bitcoin-development] 0 confirmation txs using replace-by-fee and game theory

Mike Hearn mike at plan99.net
Thu Apr 24 12:15:13 UTC 2014

> This scheme would discourage people from attempting a Finney attack
> because they would end up worse off if they did.
Phrased another way, it simply makes every block a Finney attack that
charges the maximum double spending fee possible. This doesn't solve the

Beyond needing to double balances, what if the shop is selling me a phone
on contract? So the actual cost of the phone is lower than the real price
on the assumption of future revenue. Alice double spends (aka steals) the
phone, paying double the artifically lower cost but still making a good
saving. Bob does not end up with "nothing", he ends up in the red.

But there's a much simpler way to dispose with this idea. Jorge, go down to
your local bars and cafes, and ask them if they'd be willing to accept a
form of payment that allows anyone to steal from them by simply paying
double the purchase price to some other random guy. They *will* look at you
as if you're crazy. Why would they ever do that?
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