Author: Mike Hearn 2015-02-12 15:42:41
Published on: 2015-02-12T15:42:41+00:00
The discussion is about the fundamental difference in outcome from miner collusion in scorched-fee and miner collusion in knowingly mining a doublespend transaction, which the speaker sees as essentially the same thing. They explain that Replace-by-fee is miner collusion in knowingly mining a double spend, just triggered in a certain way. The speaker also notes that whichever pool benefits from the scorched earth protocol can simply pick an address out of the transaction it perceived as starting the protocol, and pay that. The discussion then turns to the issue of security for zero-conf transactions. The speaker argues that zero-conf needs something else for security, a guarantee that it cannot be double-spent in the relevant time frame. However, they acknowledge that no payment system provides guarantees, only manages risk. Overall, the core point of the discussion seems to center around the challenges and limitations of ensuring secure transactions in various payment systems.
Updated on: 2023-06-09T16:50:45.746660+00:00