[Bitcoin-development] deterministic transaction expiration

Peter Todd pete at petertodd.org
Wed Aug 6 17:34:21 UTC 2014


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On 6 August 2014 10:21:56 GMT-07:00, Mark Friedenbach <mark at monetize.io> wrote:
>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.

Bitcoin is already "broken" in that regard due to malleability, and more fundamentally, the existence of anyone-can-spend outputs, known private keys, SIGHASH_ANYONECANPAY, etc.

In any case, reorg-doublespend risk is no different than reorg-expiry risk.
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