Author: Jorge Timón 2015-02-22 03:25:32
Published on: 2015-02-22T03:25:32+00:00
In February 2015, Jeff Garzik discussed the concept of "scorched earth" policies in the Bitcoin community which could negatively impact present-day 0-conf usage. Peter Todd clarified that the term referred to the potential undesirable consequences of widely deployed replace-by-fee policies. Jeff Garzik disagreed with the name and suggested "stag hunting" instead. The use of insecure 0-conf transactions for rapid payments is a reality in Bitcoin, and any policy that makes them unusable would have a wide negative impact on present-day Bitcoin payments.Jeff Garzik also raised concerns about maintaining first-seen policies, as it could encourage people to deploy systems based on extremely weak assumptions, ultimately harming the system in the long term. It's worth noting that payment processors currently use a scoring system before accepting 0-conf transactions for payments.
Updated on: 2023-06-09T16:55:47.154654+00:00