Re:Proof of Existence: Storing Hashed Files in the Bitcoin B...
by alexwright on Friday November 29, 2013 @11:21AM
(#6819935)
Bitcoin doesn't work by passing tokens around to represent the value. In a Bitcoin spend the value is simply added to the wallet/address's balance. Any further spend is deducted from the wallets balance.
The "coin" is not a single token that lives on and is broken apart to be spent, so there's no way a coin could self destruct after being transferred.
Re:Proof of Existence: Storing Hashed Files in the Bitcoin B...
by drakaal on Friday November 29, 2013 @11:44AM
(#6820027)
You keep telling yourself that.
I understand fractional coins. I was over simplifying for brevity. I'll give you a hint. You have to move the coins between two wallets you own before you create a coin that will "break" when it goes in to the third's wallet. The Third wallet accepts a coin that no one will take afterwards. The coin becomes undependable.
Re:Proof of Existence: Storing Hashed Files in the Bitcoin B...
by drakaal on Friday November 29, 2013 @01:54PM
(#6820532)
unspendable. Damn you Autocorrect.
Re:Proof of Existence: Storing Hashed Files in the Bitcoin B...
by anon_java_hater on Friday November 29, 2013 @01:17PM
(#6820383)
No you can't fill up the transaction log for free magically. You have no clue what you're talking about. Fuck off.
Patient0 mentioned before I got to post this, the other attack I know would work. Destroying tokens. But it is a bit more complex than he mentions, but you can actually generate ECDSA key's that will work for one transaction, and then never again. A one time spend token that then self destructs for the person you paid.
I haven't been able to build anything that would work for two transactions. Which would be the most useful since you'd have a delayed "poison coin" but I don't see any reason it isn't computationally possible.