📅 Original date posted:2017-01-03
📝 Original message:The concept was not particularly targeted towards businesses, but
allowing for significantly improved wallet performance and reducing
privacy for lite clients. You would expect that a business has the
capacity to run a fully validating, fully storing node of their own.
If they’re not something is fundamentally broken with Bitcoin, or
their rationale of continuing to use it.
On 2017-01-03 14:18, Aaron Voisine wrote:
> 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
bfd at cock.lu [ARCHIVE] /
npub1md…gy6y7
2023-06-07 17:55:04
in reply to nevent1q…y54m
Author Public Key
npub1mdmqmt0prpddcexkljfzd40uf7nvrc56c7gsg2spn3lgcjghguxqwgy6y7Published at
2023-06-07 17:55:04Event JSON
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"content": "📅 Original date posted:2017-01-03\n📝 Original message:The concept was not particularly targeted towards businesses, but\nallowing for significantly improved wallet performance and reducing\nprivacy for lite clients. You would expect that a business has the\ncapacity to run a fully validating, fully storing node of their own.\nIf they’re not something is fundamentally broken with Bitcoin, or\ntheir rationale of continuing to use it.\n\n\nOn 2017-01-03 14:18, Aaron Voisine wrote:\n\u003e Unconfirmed transactions are incredibly important for real world use.\n\u003e Merchants for instance are willing to accept credit card payments of\n\u003e thousands of dollars and ship the goods despite the fact that the\n\u003e transaction can be reversed up to 60 days later. There is a very large\n\u003e cost to losing the ability to have instant transactions in many or\n\u003e even most situations. This cost is typically well above the fraud\n\u003e risk.\n\u003e \n\u003e It's important to recognize that bitcoin serves a wide variety of use\n\u003e cases with different profiles for time sensitivity and fraud risk.\n\u003e \n\u003e Aaron\n\u003e \n\u003e On Tue, Jan 3, 2017 at 12:41 PM bfd--- via bitcoin-dev\n\u003e \u003cbitcoin-dev at lists.linuxfoundation.org\u003e wrote:\n\u003e \n\u003e\u003e The concept combined with the weak blocks system where miners commit\n\u003e\u003e \n\u003e\u003e to potential transaction inclusion with fractional difficulty blocks\n\u003e\u003e \n\u003e\u003e is possible. I'm not personally convinced that unconfirmed\n\u003e\u003e transaction\n\u003e\u003e \n\u003e\u003e display in a wallet is worth the privacy trade-off. The user has\n\u003e\u003e very\n\u003e\u003e \n\u003e\u003e little to gain from this knowledge until the txn is in a block.\n\u003e\u003e \n\u003e\u003e On 2017-01-01 13:01, Jonas Schnelli via bitcoin-dev wrote:\n\u003e\u003e \n\u003e\u003e\u003e Hi\n\u003e\u003e \n\u003e\u003e\u003e\u003e We introduce several concepts that rework the lightweight Bitcoin\n\u003e\u003e \n\u003e\u003e\u003e\u003e client model in a manner which is secure, efficient and privacy\n\u003e\u003e \n\u003e\u003e\u003e\u003e compatible.\n\u003e\u003e \n\u003e\u003e\u003e\u003e \n\u003e\u003e \n\u003e\u003e\u003e\u003e The BFD can be used verbatim in replacement of BIP37, where the\n\u003e\u003e filter\n\u003e\u003e \n\u003e\u003e\u003e\u003e can be cached between clients without needing to be recomputed.\n\u003e\u003e It can\n\u003e\u003e \n\u003e\u003e\u003e\u003e also be used by normal pruned nodes to do re-scans locally of\n\u003e\u003e their\n\u003e\u003e \n\u003e\u003e\u003e\u003e wallet without needing to have the block data available to scan,\n\u003e\u003e or\n\u003e\u003e \n\u003e\u003e\u003e\u003e without reading the entire block chain from disk.\n\u003e\u003e \n\u003e\u003e\u003e I started exploring the potential of BFD after this specification.\n\u003e\u003e \n\u003e\u003e\u003e \n\u003e\u003e \n\u003e\u003e\u003e What would be the preferred/recommended way to handle\n\u003e\u003e 0-conf/mempool\n\u003e\u003e \n\u003e\u003e\u003e filtering – if \u0026 once BDF would have been deployed (any type,\n\u003e\u003e \n\u003e\u003e\u003e semi-trusted oracles or protocol-level/softfork)?\n\u003e\u003e \n\u003e\u003e\u003e \n\u003e\u003e \n\u003e\u003e\u003e From the user-experience perspective, this is probably pretty\n\u003e\u003e important\n\u003e\u003e \n\u003e\u003e\u003e (otherwise the experience will be that incoming funds can take\n\u003e\u003e serval\n\u003e\u003e \n\u003e\u003e\u003e minutes to hours until they appear).\n\u003e\u003e \n\u003e\u003e\u003e Using BIP37 bloom filters just for mempool filtering would\n\u003e\u003e obviously\n\u003e\u003e \n\u003e\u003e\u003e result in the same unwanted privacy-setup.\n\u003e\u003e \n\u003e\u003e\u003e \n\u003e\u003e \n\u003e\u003e\u003e \u003c/jonas\u003e\n\u003e\u003e \n\u003e\u003e\u003e \n\u003e\u003e \n\u003e\u003e\u003e \n\u003e\u003e \n\u003e\u003e\u003e _______________________________________________\n\u003e\u003e \n\u003e\u003e\u003e bitcoin-dev mailing list\n\u003e\u003e \n\u003e\u003e\u003e bitcoin-dev at lists.linuxfoundation.org\n\u003e\u003e \n\u003e\u003e\u003e https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev\n\u003e\u003e \n\u003e\u003e _______________________________________________\n\u003e\u003e \n\u003e\u003e bitcoin-dev mailing list\n\u003e\u003e \n\u003e\u003e bitcoin-dev at lists.linuxfoundation.org\n\u003e\u003e \n\u003e\u003e https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev",
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