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authorPeter Todd <pete@petertodd.org>2016-08-08 14:53:54 -0700
committerbitcoindev <bitcoindev@gnusha.org>2016-08-08 21:54:13 +0000
commitcff3999de6fd43cae5b35e63570cfce4655d5c47 (patch)
treecc5e14aba50aabe8a3ea29249ca1468105a75412
parent4fc5e4665d7e1f7bf3caaf011318269416a2a8aa (diff)
downloadpi-bitcoindev-cff3999de6fd43cae5b35e63570cfce4655d5c47.tar.gz
pi-bitcoindev-cff3999de6fd43cae5b35e63570cfce4655d5c47.zip
Re: [bitcoin-dev] Hiding entire content of on-chain transactions
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+Date: Mon, 8 Aug 2016 14:53:54 -0700
+From: Peter Todd <pete@petertodd.org>
+To: James MacWhyte <macwhyte@gmail.com>,
+ Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>
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+Cc: Tony Churyumoff <tony991@gmail.com>
+Subject: Re: [bitcoin-dev] Hiding entire content of on-chain transactions
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+On Mon, Aug 08, 2016 at 09:41:27PM +0000, James MacWhyte via bitcoin-dev wr=
+ote:
+> Wouldn't you lose the ability to assume transactions in the blockchain are
+> verified as valid, since miners can't see the details of what is being
+> spent and how? I feel like this ability is bitcoin's greatest asset, and =
+by
+> removing it you're creating an altcoin different enough to not be connect=
+ed
+> to/supported by the main bitcoin project.
+
+The fact that miners verify transactions is just an optimisation:
+
+ https://petertodd.org/2013/disentangling-crypto-coin-mining
+
+Preventing double-spending however is a fundemental requirement of Bitcoin,=
+ and
+this proposal does prevent double-spending perfectly well (although there m=
+ay
+be better ways to do it).
+
+The OP's proposal sounds quite similar to my earlier one along similar line=
+s:
+
+ https://petertodd.org/2016/closed-seal-sets-and-truth-lists-for-privacy
+
+--=20
+https://petertodd.org 'peter'[:-1]@petertodd.org
+
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