So, I have a half-technical half-systematic question. As I understand it, bitcoin uses a cryptographic proof of work with a most-work-wins approach to double-spend resolution.

What are the implications of black-holing any double-spent coins? Obviously this would need to be transitive. And probably there would need to be some maximum time delta after which presenting a double-spend to the network would not cause coin destruction.

Thoughts? Clarifications where I just have the wrong idea?

-bgc