Received: from sog-mx-4.v43.ch3.sourceforge.com ([172.29.43.194]
	helo=mx.sourceforge.net)
	by sfs-ml-2.v29.ch3.sourceforge.com with esmtp (Exim 4.76)
	(envelope-from <pete@petertodd.org>) id 1XZTtn-0001tx-Ko
	for bitcoin-development@lists.sourceforge.net;
	Thu, 02 Oct 2014 00:05:35 +0000
Received-SPF: pass (sog-mx-4.v43.ch3.sourceforge.com: domain of petertodd.org
	designates 62.13.149.113 as permitted sender)
	client-ip=62.13.149.113; envelope-from=pete@petertodd.org;
	helo=outmail149113.authsmtp.com; 
Received: from outmail149113.authsmtp.com ([62.13.149.113])
	by sog-mx-4.v43.ch3.sourceforge.com with esmtp (Exim 4.76)
	id 1XZTtm-0004tI-72 for bitcoin-development@lists.sourceforge.net;
	Thu, 02 Oct 2014 00:05:35 +0000
Received: from mail-c235.authsmtp.com (mail-c235.authsmtp.com [62.13.128.235])
	by punt15.authsmtp.com (8.14.2/8.14.2/) with ESMTP id s9205PPB044812;
	Thu, 2 Oct 2014 01:05:25 +0100 (BST)
Received: from [25.162.121.21] ([24.114.45.134]) (authenticated bits=0)
	by mail.authsmtp.com (8.14.2/8.14.2/) with ESMTP id s9205KDq007178
	(version=TLSv1/SSLv3 cipher=DHE-RSA-AES256-SHA bits=256 verify=NO);
	Thu, 2 Oct 2014 01:05:22 +0100 (BST)
User-Agent: K-9 Mail for Android
In-Reply-To: <201410011823.56441.luke@dashjr.org>
References: <20141001130826.GM28710@savin.petertodd.org>
	<201410011823.56441.luke@dashjr.org>
MIME-Version: 1.0
Content-Transfer-Encoding: 8bit
Content-Type: text/plain;
 charset=UTF-8
From: Peter Todd <pete@petertodd.org>
Date: Wed, 01 Oct 2014 17:05:15 -0700
To: Luke Dashjr <luke@dashjr.org>, bitcoin-development@lists.sourceforge.net
Message-ID: <CE356B97-E5AC-4A04-B67C-A542D070F1C5@petertodd.org>
X-Server-Quench: ce70f49e-49c7-11e4-b396-002590a15da7
X-AuthReport-Spam: If SPAM / abuse - report it at:
	http://www.authsmtp.com/abuse
X-AuthRoute: OCd2Yg0TA1ZNQRgX IjsJECJaVQIpKltL GxAVKBZePFsRUQkR
	aAdMdgAUF1YAAgsB AmIbW1VeUFh7W2A7 aQ5PbARZfE5LQQRp
	VFdNRFdNFUsrCB4B A2VqExlycARBcDB2 YkdmECMOW0QscU8o
	X0pdRmobZGY1bH1N U0leagNUcgZDfk5E bwQuUz1vNG8XDQg5
	AwQ0PjZ0MThBJSBS WgQAK04nCXUhPwZ0 SwoLEykaVWYlag4Q
	CzsNCWI9OWsvH38T H2ppHBogKRIMBwtC fkgFHD9eOkVJSTAs
	CEtQUE8YH3VGWSpa HlU1JANJBnRbXGJV FFNEURgTCiRDGDVJ TTs1
X-Authentic-SMTP: 61633532353630.1023:706
X-AuthFastPath: 0 (Was 255)
X-AuthSMTP-Origin: 24.114.45.134/465
X-AuthVirus-Status: No virus detected - but ensure you scan with your own
	anti-virus system.
X-Spam-Score: -1.5 (-)
X-Spam-Report: Spam Filtering performed by mx.sourceforge.net.
	See http://spamassassin.org/tag/ for more details.
	-1.5 SPF_CHECK_PASS SPF reports sender host as permitted sender for
	sender-domain
	-0.0 SPF_PASS               SPF: sender matches SPF record
X-Headers-End: 1XZTtm-0004tI-72
Subject: Re: [Bitcoin-development] [BIP draft] CHECKLOCKTIMEVERIFY -
	Prevent	a txout from being spent until an expiration time
X-BeenThere: bitcoin-development@lists.sourceforge.net
X-Mailman-Version: 2.1.9
Precedence: list
List-Id: <bitcoin-development.lists.sourceforge.net>
List-Unsubscribe: <https://lists.sourceforge.net/lists/listinfo/bitcoin-development>,
	<mailto:bitcoin-development-request@lists.sourceforge.net?subject=unsubscribe>
List-Archive: <http://sourceforge.net/mailarchive/forum.php?forum_name=bitcoin-development>
List-Post: <mailto:bitcoin-development@lists.sourceforge.net>
List-Help: <mailto:bitcoin-development-request@lists.sourceforge.net?subject=help>
List-Subscribe: <https://lists.sourceforge.net/lists/listinfo/bitcoin-development>,
	<mailto:bitcoin-development-request@lists.sourceforge.net?subject=subscribe>
X-List-Received-Date: Thu, 02 Oct 2014 00:05:35 -0000

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA256



On 1 October 2014 11:23:55 GMT-07:00, Luke Dashjr <luke@dashjr.org> wrote:
>Thoughts on some way to have the stack item be incremented by the
>height at
>which the scriptPubKey was in a block?

Better to create a GET-TXIN-BLOCK-(TIME/HEIGHT)-EQUALVERIFY operator. scriptPubKey would be:

    GET-TXIN-BLOCKHEIGHT-EQUALVERIFY

(fails unless top stack item is equal to the txin block height)

    <delta height> ADD

(top stack item is now txin height + delta height)

    CHECKLOCKTIMEVERIFY

> A limitation of encoding the
>target
>height/time directly, is that miners may choose not to mine the first
>transaction until they can also take the "burn to fee". So, one may
>prefer to
>say "cannot be spent until 100 blocks after the first transaction is
>mined",
>in effect reproducing the generation maturity rule.

You'd want these sacrifices to unlock years into the future to thoroughly exceed any reasonable business cycle; that's so far into the future that miners are almost certain to just mine them and collect the fees.
-----BEGIN PGP SIGNATURE-----
Version: APG v1.1.1

iQFQBAEBCAA6BQJULJa7MxxQZXRlciBUb2RkIChsb3cgc2VjdXJpdHkga2V5KSA8
cGV0ZUBwZXRlcnRvZGQub3JnPgAKCRAZnIM7qOfwhYlFB/4r2Hv82RK85BDe+hAT
ZQJtzXv1JRCa+o7Y344unMJ8y7rSDJRFSH+X+4VeCln833XKb8FNgj2loniQAq5H
FIH04gPf7yuXvDrKI6HwCj9Q3KLPv4UZM1+LjijczOM/y4e/C82squpTpgFaton+
6VXU/WyaCDYDS4he975E14YhBBVhoadZZMOW3Moxgpnde2RwAYZdkcdhqvh/3dJC
/9VOEUBu0ENyraL5HHGdZyjSJT2MsY4CBTCCd54RxBBMoMZqFRvIi4Xrt2vE1T+Y
R2DtKs7upjydnfg9KPm484upvO2U3lcnPBW9rqOVQyV2q81TcloRtUIU4QQ9GCAk
ayj2
=p0BG
-----END PGP SIGNATURE-----