š
Original date posted:2015-02-22
š Original message:-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA256
On 22 February 2015 08:50:30 GMT-05:00, Matt Whitlock <bip at mattwhitlock.name> wrote:
>On Sunday, 22 February 2015, at 2:29 pm, Natanael wrote:
>> In other words, you are unprotected and potentially at greater risk
>if you
>> create a transaction depending on another zero-confirmation
>transaction.
>
>This happened to one of the merchants at the Bitcoin 2013 conference in
>San Jose. They sold some T-shirts and accepted zero-confirmation
>transactions. The transactions depended on other unconfirmed
>transactions, which never confirmed, so this merchant never got their
>money.
Great example! Systems that appear more secure than they really are to uninformed users are dangerous. Same reason why brain wallets are such scary technology, and equally, why I like to give a few dollars away every so often to the guys brute forcing weak ones.
>I keep telling people not to accept transactions with zero
>confirmations, but no one listens.
In my experience there's a pattern of "accept unconfirmed; get burned badly/see someone else get burned; stop relying on them" Although of course, there's some bias in that people contact me asking what to do after they get burned. :)
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Peter Todd [ARCHIVE] /
npub1m2ā¦a2np2
2023-06-07 15:30:54
in reply to nevent1qā¦j9r9
Author Public Key
npub1m230cem2yh3mtdzkg32qhj73uytgkyg5ylxsu083n3tpjnajxx4qqa2np2Published at
2023-06-07 15:30:54Event JSON
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Original date posted:2015-02-22\nš Original message:-----BEGIN PGP SIGNED MESSAGE-----\nHash: SHA256\n\n\n\nOn 22 February 2015 08:50:30 GMT-05:00, Matt Whitlock \u003cbip at mattwhitlock.name\u003e wrote:\n\u003eOn Sunday, 22 February 2015, at 2:29 pm, Natanael wrote:\n\u003e\u003e In other words, you are unprotected and potentially at greater risk\n\u003eif you\n\u003e\u003e create a transaction depending on another zero-confirmation\n\u003etransaction.\n\u003e\n\u003eThis happened to one of the merchants at the Bitcoin 2013 conference in\n\u003eSan Jose. They sold some T-shirts and accepted zero-confirmation\n\u003etransactions. The transactions depended on other unconfirmed\n\u003etransactions, which never confirmed, so this merchant never got their\n\u003emoney.\n\nGreat example! Systems that appear more secure than they really are to uninformed users are dangerous. Same reason why brain wallets are such scary technology, and equally, why I like to give a few dollars away every so often to the guys brute forcing weak ones.\n\n\u003eI keep telling people not to accept transactions with zero\n\u003econfirmations, but no one listens.\n\nIn my experience there's a pattern of \"accept unconfirmed; get burned badly/see someone else get burned; stop relying on them\" Although of course, there's some bias in that people contact me asking what to do after they get burned. :)\n-----BEGIN PGP SIGNATURE-----\n\niQE9BAEBCAAnIBxQZXRlciBUb2RkIDxwZXRlQHBldGVydG9kZC5vcmc+BQJU6eKG\nAAoJEMCF8hzn9LncGz0H/ivA9J4MqsVnkPm9JVAIXgZiT7rAVO0Rp1lO/8PGPS6K\ndXBFXESicszeBx5yeyQrLUFh58DVgp21sFHSMNTKmujDJJgxNf/ygffN9dTLriwt\nPJcDWvxPzqyLy2e/CloRonxwlO3+Umv1OiPs1yy7a7auDVAEm1xvh/pc3A48u1bO\n++cyxZs8j5yv3Ms2n/FmGekhL9jZHJAgmiVnSks0cMqq9+cYipEjy+FEq3KFGlFI\n4iZ58f57g6W7bVqM+9Z6dbLczWobnQ+nfo7lFZWgGdbhKf4Jv7tHOcfSw4nbmJz4\nOgWmKtM724h7abOIrqJnTF0u10dmapVv+lRtjiGXo8c=\n=7W03\n-----END PGP SIGNATURE-----",
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