Author: Luke Dashjr 2015-06-20 03:48:05
Published on: 2015-06-20T03:48:05+00:00
In a message sent on June 20, 2015, Aaron Voisine discussed the security of Bitcoin transactions. He suggested that these transactions did not need to be cryptographically safe; rather, they only needed to be safer than other payment methods, such as credit card payments that can be charged back. Voisine believed that if Bitcoin transactions were reasonably good in practice, that would be sufficient. However, Luke later added that unconfirmed transactions could still be double spent if someone was actively trying to do so. He explained that making one transaction propagate quickly with minimal inputs and outputs while making another transaction propagate slowly with many inputs and outputs could increase the chances of success. Therefore, although Bitcoin transactions may be relatively safe, there is still some risk involved due to the potential for double spending.
Updated on: 2023-06-09T23:48:49.040500+00:00