Proposing new feature in Bitcoin protocol to reduce the number of thefts

[btmtb]

One of my favorite threads in recent memory. Nothing like some good old fashioned community vigilantism!

It would only be vigilantism if someone stolen them to avenge the victims of black arrows incompetence and negligence, I've not seen any convincing evidence that theft is actually the case yet. Although that would be better than the alternative.

[roshii]

It would only be vigilantism if someone stolen them to avenge the victims of black arrows incompetence and negligence, I've not seen any convincing evidence that theft is actually the case yet. Although that would be better than the alternative.

Even though time passes and does not comfort my feelings it do not feel stolen (yet) and still want to believe BA will offer proper compensation at some point in time.

I personally think BA does have a real crap supply chain, vendor management and customer service...
They have proven (more than once) not being able to maintain a proper/realistic production schedule.
They have proven not being able to get what they require from their vendors
They have proven not being able to offer what they stated to their customers

It looks like I (amateur miner/developer) would start tomorrow an bitcoin mining ASCI company a promise delivery within 6 month, with off course no experienced team nor established vendor relationship.

This would have been a (meant) scam, I assume we'd not hear about BA anymore with their founder enjoying a pile of dollars somewhere on a sunny island.... But we still hear and read about them (mainly not in a positive manner though).

To make it short, I think/assume:
1. BA realized about supply chain management early 2014 - too late
2. BA realized about vendor management mid 2014 - much too late
3. Consequently, BA faced reliability issue on their X3 unit putting even more pressure on their (nonexistent) supply chain management
4. Consequently again, BA faces customer anger for defect product and delayed delivery putting even more pressure on their (nonexistent) customer service

Since I still trust BA has good will, I think it is a wise decision to continue with new product development since only next gen units could now fairly compensate customers. Refunding/financial compensation would just kill the company in my opinion and vigilantism by stilling from them would only benefit to the theft (BA customer would probably never see a single satoshi of such a theft)

For the history, I have ordered two X1 units back in November '13 and received them functional (without LCD and WiFi) late July '14. Units are working perfectly since then.
Now required from BA a free "X1 14 nm" as compensation, which they said they'd investigate...

[notbatman]

It would only be vigilantism if someone stolen them to avenge the victims of black arrows incompetence and negligence, I've not seen any convincing evidence that theft is actually the case yet. Although that would be better than the alternative.

Even though time passes and does not comfort my feelings it do not feel stolen (yet) and still want to believe BA will offer proper compensation at some point in time.

I personally think BA does have a real crap supply chain, vendor management and customer service...
They have proven (more than once) not being able to maintain a proper/realistic production schedule.
They have proven not being able to get what they require from their vendors
They have proven not being able to offer what they stated to their customers

It looks like I (amateur miner/developer) would start tomorrow an bitcoin mining ASCI company a promise delivery within 6 month, with off course no experienced team nor established vendor relationship.

This would have been a (meant) scam, I assume we'd not hear about BA anymore with their founder enjoying a pile of dollars somewhere on a sunny island.... But we still hear and read about them (mainly not in a positive manner though).

To make it short, I think/assume:
1. BA realized about supply chain management early 2014 - too late
2. BA realized about vendor management mid 2014 - much too late
3. Consequently, BA faced reliability issue on their X3 unit putting even more pressure on their (nonexistent) supply chain management
4. Consequently again, BA faces customer anger for defect product and delayed delivery putting even more pressure on their (nonexistent) customer service

Since I still trust BA has good will, I think it is a wise decision to continue with new product development since only next gen units could now fairly compensate customers. Refunding/financial compensation would just kill the company in my opinion and vigilantism by stilling from them would only benefit to the theft (BA customer would probably never see a single satoshi of such a theft)

For the history, I have ordered two X1 units back in November '13 and received them functional (without LCD and WiFi) late July '14. Units are working perfectly since then.
Now required from BA a free "X1 14 nm" as compensation, which they said they'd investigate...

This BA pre-order has been scam from the beginning same as BFL and all the others. The guys who run these operations are career criminals.

The fact is that BA lied to get my money, never delivered any product and is not refunding me.

[HELP.org]

So, we would like to propose this feature to be added to Bitcoin protocol:

A "Time Lock" command for Bitcoin addresses.

Are you aware that Bitcoin addresses do not exist on the blockchain or in the protocol?

And that "addresses" are not spent, "outputs" are.

And that transactions don't have timestamps?

And that the timestamp on a block is unreliable as an indication of current real-world calendar time?

And that the change you are proposing would require so much modification to the way the protocol works that it would likely destroy the consensus system and the fungible nature of bitcoins?

The Bitcoin addresses are not in the blockchain directly but it is easy to calculate the addresses from Blockchain data so that seems to be a non-issue.  Also, I thought the timestamps on the blocks that contain confirmed transactions was a good estimate of the time.  I thought blocks won't propagate unless they are within a couple of hours of the average time of other blocks that were recently published.  I also thought this capability already exists as part of P2SH.  This sounds like a variation of the "dead man's switch."  I thought these types of transactions are possible today as long as you can a miner to mine that type of transaction.

[greenlion]

This thread is not a serious thread about any sort of protocol recommendation, frankly what they're describing is so misguided and ridiculous, it's not even "wrong".

The OP is a wire fraud criminal who fled Romania for the UK in the mid/early-2000's to avoid prosecution, and is currently running a scam with the Black Arrow Prospero line of pre-ordered miners to the tune of several million dollars of customer funds.

Black Arrow did not actually cash out any customer payments made upwards of a year ago until mysteriously finally moving them from the original payment addresses exactly when this thread was created, which indicates that this entire thread is merely a cover for embezzling the entirety of their customer's payments that were performed in bitcoin.

[roshii]

This thread is not a serious thread about any sort of protocol recommendation, frankly what they're describing is so misguided and ridiculous, it's not even "wrong".

The OP is a wire fraud criminal who fled Romania for the UK in the mid/early-2000's to avoid prosecution, and is currently running a scam with the Black Arrow Prospero line of pre-ordered miners to the tune of several million dollars of customer funds.

Black Arrow did not actually cash out any customer payments made upwards of a year ago until mysteriously finally moving them from the original payment addresses exactly when this thread was created, which indicates that this entire thread is merely a cover for embezzling the entirety of their customer's payments that were performed in bitcoin.

Well well... I was wondering for some times what action should I take... I now know and have no trust in BA left: I'll file a complaint with the Hong Kong Consumer Council.

Does anyone knows if "group complaint" can be made under HK law? Or does it have to be individual claims only?

[silversurfer1958]

Can't switch on the timelock feature as it would open up bitcoin to having to handle transactions that might not mature for a very long time.   

[Waramp22]

14nm Bitcoin ASIC

We are still heavily involved in the 14nm ASIC project.
We are happy to report that after bringing on board more talent we have exceeded our initial 0.3W/Ghash target by 4.3 times by employing all techniques possible in ASIC and algorithm design. Our current design efficiency is now 70mW/Ghash (0.07W/Ghash) which allows us to build a 1 Terrahash chip in a single die while using 70 Watts at chip level. This will allow development of a 20Thash machine while using 1.5kw.
We intend to make this chip available for sale only from stock (No pre-orders)

Here, let me correct some mistakes you made in your post.

28nm Bitcoin ASIC

We are still heavily involved in the 28nm ASIC preorder scam.
We are unhappy to report that after bringing on board more fictitious third part manufacturers we have exceeded our initial delivery date by 6 months or 4.3 times by employing all excuses possible in ASIC and bitcoin miner development. Our current design efficiency is now 0.49/GH/s (according to our computer model) which allows us to build a 1 Terrahash unit that may or may not burn your sleeping children to death. This will allow you to mine your own bitcoins for a monthly loss of just $174.
We intend to make this chip available for sale only from stock (No pre-orders) the same way you can still purchase a non-existent X-3 from our website that is displaying IN STOCK with a shipping date of May 15 2014

[work2heat]

doesnt the bitcoin script already support timelocked outputs?

[DannyHamilton]

doesnt the bitcoin script already support timelocked outputs?

Not that I know of.