Post
Topic
Board Announcements (Altcoins)
Re: [ANN][XCP] Counterparty Protocol, Client and Coin (built on Bitcoin) - Official
by
jgarzik
on 21/03/2014, 14:59:10 UTC
Now, I am just a disinterested observer here (with investments in Bitcoin and all major 2.0 cryptos) so I don't speak for anybody but myself here; but it seems to me that Counterparty has Bitcoin over a barrel somewhat, especially with respect to the unspent outputs, which would be quite difficult to selectively block on the Bitcoin end.  It would quickly turn into a cat and mouse game.  Bitcoin could implement code to detect and block XCP transactions, but XCP changes a few parameters and re-launches a week later to get around it, which causes Bitcoin to respond, which causes a new change in XCP, etc. ad nauseum.  I don't think that anybody wants that.

No, it is trivial to block 100% of them.  A proposal to do just that appeared on the bitcoin-development mailing list yesterday from Peter Todd.  This proposed change would relay zero transactions with multisig outputs.

Most of the world is moving to P2SH for multisig, leaving the remaining "bare multisig" users mastercoin, counterparty, etc.



Isn't Peter Todd working on Mastercoin? Why would he propose that?

Think about it.  Mastercoin is a competitor to Counterparty.  Mastercoin is already aware of, and working on solving this storage-in-multisig problem.

Peter Todd's proposal simultaneously (a) benefits Mastercoin, (b) disadvantages Counterparty, and (c) presents a proposal that portions of the developer and mining community already find agreeable.


Edit: retracted, based on Peter's recent posting.