Author: Gregory Maxwell 2014-03-05 20:54:04
Published on: 2014-03-05T20:54:04+00:00
In an email conversation, Peter Todd discussed the minimum knowledge required to write any Bitcoin software while still being able to defend against attacks. However, he notes that this advice is incomplete in certain situations. Specifically, when someone pays small amounts repeatedly to an address with a txout of high value, it is not practical to ignore the funds or tell customers that the funds are lost after the first payment. In such cases, spending the coins and potentially disclosing a private key may be necessary. While not reusing addresses is important for safety and limiting losses during theft, it is not sufficient on its own. Smarter signing may also not be foolproof due to the complexity of software and potential for bugs, especially when attackers can interfere.
Updated on: 2023-05-19T18:13:53.236806+00:00