📅 Original date posted:2017-01-03
📝 Original message:Unconfirmed transactions are incredibly important for real world use.
Merchants for instance are willing to accept credit card payments of
thousands of dollars and ship the goods despite the fact that the
transaction can be reversed up to 60 days later. There is a very large cost
to losing the ability to have instant transactions in many or even most
situations. This cost is typically well above the fraud risk.
It's important to recognize that bitcoin serves a wide variety of use cases
with different profiles for time sensitivity and fraud risk.
Aaron
On Tue, Jan 3, 2017 at 12:41 PM bfd--- via bitcoin-dev <
bitcoin-dev at lists.linuxfoundation.org> wrote:
> The concept combined with the weak blocks system where miners commit
>
> to potential transaction inclusion with fractional difficulty blocks
>
> is possible. I'm not personally convinced that unconfirmed transaction
>
> display in a wallet is worth the privacy trade-off. The user has very
>
> little to gain from this knowledge until the txn is in a block.
>
>
>
>
>
> On 2017-01-01 13:01, Jonas Schnelli via bitcoin-dev wrote:
>
> > Hi
>
> >> We introduce several concepts that rework the lightweight Bitcoin
>
> >> client model in a manner which is secure, efficient and privacy
>
> >> compatible.
>
> >>
>
> >> The BFD can be used verbatim in replacement of BIP37, where the filter
>
> >> can be cached between clients without needing to be recomputed. It can
>
> >> also be used by normal pruned nodes to do re-scans locally of their
>
> >> wallet without needing to have the block data available to scan, or
>
> >> without reading the entire block chain from disk.
>
> > I started exploring the potential of BFD after this specification.
>
> >
>
> > What would be the preferred/recommended way to handle 0-conf/mempool
>
> > filtering – if & once BDF would have been deployed (any type,
>
> > semi-trusted oracles or protocol-level/softfork)?
>
> >
>
> > From the user-experience perspective, this is probably pretty important
>
> > (otherwise the experience will be that incoming funds can take serval
>
> > minutes to hours until they appear).
>
> > Using BIP37 bloom filters just for mempool filtering would obviously
>
> > result in the same unwanted privacy-setup.
>
> >
>
> > </jonas>
>
> >
>
> >
>
> > _______________________________________________
>
> > bitcoin-dev mailing list
>
> > bitcoin-dev at lists.linuxfoundation.org
>
> > https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>
> _______________________________________________
>
> bitcoin-dev mailing list
>
> bitcoin-dev at lists.linuxfoundation.org
>
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>
>
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Aaron Voisine [ARCHIVE] /
npub18g…knkzl
2023-06-07 17:55:03
in reply to nevent1q…dpgc
Author Public Key
npub18gjvug29c4yg46lmplq38e75gg6wn5mn8taytckcsr4jt8p74h3s5knkzlPublished at
2023-06-07 17:55:03Event JSON
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"content": "📅 Original date posted:2017-01-03\n📝 Original message:Unconfirmed transactions are incredibly important for real world use.\nMerchants for instance are willing to accept credit card payments of\nthousands of dollars and ship the goods despite the fact that the\ntransaction can be reversed up to 60 days later. There is a very large cost\nto losing the ability to have instant transactions in many or even most\nsituations. This cost is typically well above the fraud risk.\n\nIt's important to recognize that bitcoin serves a wide variety of use cases\nwith different profiles for time sensitivity and fraud risk.\n\nAaron\n\nOn Tue, Jan 3, 2017 at 12:41 PM bfd--- via bitcoin-dev \u003c\nbitcoin-dev at lists.linuxfoundation.org\u003e wrote:\n\n\u003e The concept combined with the weak blocks system where miners commit\n\u003e\n\u003e to potential transaction inclusion with fractional difficulty blocks\n\u003e\n\u003e is possible. I'm not personally convinced that unconfirmed transaction\n\u003e\n\u003e display in a wallet is worth the privacy trade-off. The user has very\n\u003e\n\u003e little to gain from this knowledge until the txn is in a block.\n\u003e\n\u003e\n\u003e\n\u003e\n\u003e\n\u003e On 2017-01-01 13:01, Jonas Schnelli via bitcoin-dev wrote:\n\u003e\n\u003e \u003e Hi\n\u003e\n\u003e \u003e\u003e We introduce several concepts that rework the lightweight Bitcoin\n\u003e\n\u003e \u003e\u003e client model in a manner which is secure, efficient and privacy\n\u003e\n\u003e \u003e\u003e compatible.\n\u003e\n\u003e \u003e\u003e\n\u003e\n\u003e \u003e\u003e The BFD can be used verbatim in replacement of BIP37, where the filter\n\u003e\n\u003e \u003e\u003e can be cached between clients without needing to be recomputed. It can\n\u003e\n\u003e \u003e\u003e also be used by normal pruned nodes to do re-scans locally of their\n\u003e\n\u003e \u003e\u003e wallet without needing to have the block data available to scan, or\n\u003e\n\u003e \u003e\u003e without reading the entire block chain from disk.\n\u003e\n\u003e \u003e I started exploring the potential of BFD after this specification.\n\u003e\n\u003e \u003e\n\u003e\n\u003e \u003e What would be the preferred/recommended way to handle 0-conf/mempool\n\u003e\n\u003e \u003e filtering – if \u0026 once BDF would have been deployed (any type,\n\u003e\n\u003e \u003e semi-trusted oracles or protocol-level/softfork)?\n\u003e\n\u003e \u003e\n\u003e\n\u003e \u003e From the user-experience perspective, this is probably pretty important\n\u003e\n\u003e \u003e (otherwise the experience will be that incoming funds can take serval\n\u003e\n\u003e \u003e minutes to hours until they appear).\n\u003e\n\u003e \u003e Using BIP37 bloom filters just for mempool filtering would obviously\n\u003e\n\u003e \u003e result in the same unwanted privacy-setup.\n\u003e\n\u003e \u003e\n\u003e\n\u003e \u003e \u003c/jonas\u003e\n\u003e\n\u003e \u003e\n\u003e\n\u003e \u003e\n\u003e\n\u003e \u003e _______________________________________________\n\u003e\n\u003e \u003e bitcoin-dev mailing list\n\u003e\n\u003e \u003e bitcoin-dev at lists.linuxfoundation.org\n\u003e\n\u003e \u003e https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev\n\u003e\n\u003e _______________________________________________\n\u003e\n\u003e bitcoin-dev mailing list\n\u003e\n\u003e bitcoin-dev at lists.linuxfoundation.org\n\u003e\n\u003e https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev\n\u003e\n\u003e\n-------------- next part --------------\nAn HTML attachment was scrubbed...\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20170103/56eb8944/attachment-0001.html\u003e",
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