[Bitcoin-development] deterministic transaction expiration

Mark Friedenbach mark at monetize.io
Wed Aug 6 17:21:56 UTC 2014


On 08/06/2014 01:02 PM, Tom Harding wrote:
> With first-eligible-height and last-eligible-height, creator could
> choose a lifetime shorter than the max,  and in addition, lock the whole
> thing until some point in the future.

Note that this would be a massive, *massive* change that would
completely break bitcoin output frangibility. Merchants would have to
start demanding input history back to a certain depth in order to ensure
they are not exposing themselves to undue reorg-expiry risk.

There are useful applications of a consensus-enforced expiry,
particularly within a private (signed block) side chain, and for that
reason it is useful to have a discussion about the merits of an nExpiry
field or BLOCK_HEIGHT / BLOCK_TIME opcode, and methods for achieving
either. However I don't see this ever becoming part of the public
bitcoin network.




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