Author: yanmaani at cock.li 2020-11-25 01:52:08
Published on: 2020-11-25T01:52:08+00:00
In a post to the bitcoin-dev mailing list, AdamISZ asked for critiques on an idea he had for creating "bitcoin fungibility markets." The idea involved joinmarket and other scenarios where there is a market for liquidity and privacy is a high priority. However, Greg Maxwell pointed out that the idea doesn't work as there is only a receipt on the commitment to the offer from the maker, not on the plaintext version. This means that makers could falsely claim censorship after not sending the plaintext. Reflecting on this further, it seems that the problem is much more difficult than originally anticipated. Many solutions presume the existence of an uncensorable bulletin board in order to create a new one or use the blockchain for that function, but that is too slow and expensive. AdamISZ suggested that a solution would likely involve more sophisticated ideas.On a related note, someone else suggested that blockchains are not ideal for this purpose because they do not want it to cost money to use the bulletin board. Instead, they recommended looking into FMS, which combines Usenet/mailing lists with a web of trust for spam resistance.
Updated on: 2023-06-14T16:20:55.161931+00:00