Author: Peter Todd 2014-02-14 05:20:36
Published on: 2014-02-14T05:20:36+00:00
Dan Carter expresses his uncertainty about the feasibility of honest historical pricing as it could give an unfair advantage to those who do not wait for publication confirmation. Bob, in order to receive the best deal possible, would connect to many nodes and sign the best unconfirmed asks before someone else does. This would lead to a fully connected network with O(n^2) which is aware of all unconfirmed asks at any moment to make the best judgement and buy before someone else does. The seller needs assurance that all bidders can act on the ask transaction simultaneously. To eliminate the advantage of being fully connected, partial ask transaction could be time-locked with a network propagation delay, there would be multiple bidder responses and the winner is chosen by lottery (and fee priority) by the bitcoin/alt-coin miner who confirms the atomic transaction in their block. In response, Peter Todd believes that the seller doesn't care about fairness but instead wants assurance that 100% of the buyers willing to buy at the given price actually see the offer in a reasonable amount of time.
Updated on: 2023-06-08T02:29:23.150476+00:00