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Author Topic: A solution to the “Tragedy of the Commons” problem in Bitcoin ?  (Read 3556 times)
casascius
Mike Caldwell
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The Casascius 1oz 10BTC Silver Round (w/ Gold B)


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August 28, 2012, 03:40:01 PM
 #21

I have occasionally proposed that miners could offer value-added services for transactions that include fees beyond a certain threshold.

For example, miners at large could offer a UDP datagram-based real-time acknowledgment of having heard a transaction and an informal commitment that the transaction is not a double-spend.  This would enable instant transactions with a smaller attack footprint when it comes to double-spends.  If this were built into mining software, it would become a no-brainer and essentially a de-facto feature of the network.

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper or hardware wallets instead.
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