On Mon, May 13, 2013 at 6:54 AM, Adam Back <a...@cypherspace.org> wrote: > On Mon, May 13, 2013 at 07:31:21AM +0000, John Dillon wrote: >>[with] merge-mining [you get] more value from just one unit of work. > > correct. > >>But Peter's coinbase hashcash protocol carefully ensures [...] the amount >>of value the miner would have then given away in a "anyone-can-spend" >>output. > > I think there are 3 choices: > > 1. merged-mine (almost zero incremental cost as the bitcoin mining return is > still earned) > > 2. destroy bitcoin (hash of public key is all 00s so no computible private > key) > > 3. anyone-can-spend (= first to spend gets coin?)
Don't forget: 4. destroy-via-miner-fee, which is useful because it provides funding for a public service (bitcoin transaction verification). (a tangent, but related) I've been thinking about a decentralized way to create an anonymous identity, something I think it key to any number of decentralized, P2P and anonymous markets. My main focus, for this identity project, is to develop a decentralized protocol for generating a UUID-like unique identifier (bitstring), in a way that has some amount of creation cost attached (to prevent creating a billion of such tokens etc.). I call it a system identifier, or SIN. Once you have a SIN, you may associate the SIN with a GPG fingerprint, email address, real name, login credentials, etc. eBay-like marketplaces publish SIN ratings (though it displays on screen as "jgarzik" not "1234-abcd-5678-def0"). Standard-and-Poors style ratings agencies would similarly rate a business's SIN. SIN's build a reputation and trust over time, while controlling their own anonymity (or lack thereof). Anybody may abandon a SIN at any time. Ownership of a SIN is cryptographically proven via digital signature. Getting back on topic, somewhat, one idea I had for creation cost of a SIN was associating the creation cost of a SIN with a bitcoin transaction's miner fee. Anybody in the world could, therefore, create a SIN in a decentralized fashion, simply by following a published protocol for burning a specified amount of bitcoins via miner fee. It can be cryptographically proven with 100% certainty who made such a transaction, and the miner fee attaches a creation cost to ensure that SINs are not -too- cheap. Burn-via-miner-fee is a useful tool outside of this example. It funds a public service, providing a positive feedback loop for miners who receive fees via such services. -- Jeff Garzik exMULTI, Inc. jgar...@exmulti.com ------------------------------------------------------------------------------ AlienVault Unified Security Management (USM) platform delivers complete security visibility with the essential security capabilities. Easily and efficiently configure, manage, and operate all of your security controls from a single console and one unified framework. Download a free trial. http://p.sf.net/sfu/alienvault_d2d _______________________________________________ Bitcoin-development mailing list Bitcoin-development@lists.sourceforge.net https://lists.sourceforge.net/lists/listinfo/bitcoin-development
