[bitcoin-dev] BIP 174 thoughts

Peter D. Gray peter at coinkite.com
Thu Jun 21 19:56:54 UTC 2018

On Thu, Jun 21, 2018 at 04:32:07PM +0200, Tomas Susanka wrote:
> First of all, let me thank you for all the hard work you and others have
> put into this.
> On 21.6.2018 02:39, Achow101 via bitcoin-dev wrote:
> > While I agree that the BIP itself should be revised to reflect these suggestions, I fear that it may be too late. I know of a few other developers who have implemented BIP 174 already but have not yet responded to this email.
> We do realize that this discussion should have happened earlier, however
> agreeing on a good standard should be the number one priority for all
> the parties involved.
> The fact that someone already implemented this is indeed unfortunate,
> but I don't think we should lower our demands on the standard just
> because of a bad timing.

We all want a "good" standard but we have that already, IMHO.

What you are really saying is you want a "better" standard, and I
would argue that's our enemy right now. It's just too easy to propose a
few tweaks, with "wouldn't it be better if..." 

I feel strongly we are entering the "design by committee" territory with BIP174.

I have personally implemented this spec on an embedded micro, as
the signer and finalizer roles, and written multiple parsers for
it as well. There is nothing wrong with it, and it perfectly meets
my needs as a hardware wallet.

So, there is a good proposal already spec'ed and implemented by
multiple parties. Andrew has been very patiently shepherding the PR
for over six months already.

PSBT is something we need, and has been missing from the ecosystem
for a long time. Let's push this out and start talking about future
versions after we learn from this one.

Peter D. Gray  ||  Founder, Coinkite  ||  Twitter: @dochex  ||  GPG: A3A31BAD 5A2A5B10

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