Safe Instant Transactions for Bitcoin https://www.bitpaste…

Twetch ·

Safe Instant Transactions for Bitcoin

https://www.bitpaste.app/tx/d5662c37f56343fa236ecd63495710b4688d70fb27c9029cc8ad17d89f65f8af

Replies

Twetch ·

"Thus we can see that by combining paymail, BIP 270, and miner ID, we have a modern form of pay-to-IP with no MITM attack possibility because everything is authenticated with paymail and HTTPS."

Nailed it. This is how we can get payments at scale.

Twetch ·

pay-to-IP, I need to do more research about that.

Twetch ·

Important article. Pay to IP opens many use cases

Twetch ·

👌👌

Twetch ·

Ok my question is: What stops me from doublespending a tx after sending it to an IP before the payee broadcasts it to the miners?

Twetch ·

It's extremely easy to detect, and if you do try to doublespend the tx, the merchant/payee simply won't accept the payment from you

Twetch ·

@bielie needs to be detected first by the network majority so you would have to coordinate it so the nearest miner says that the closest node says merchant has it while the rest of the network says you have it. Hard to engineer when they submit the trx.

Twetch ·

So i send the tx to the merchant. He accepts it. THEN I double spend before the merchant broadcasts it.

Why would that not work?

Twetch ·

If you submit before he submits then he would see the other spend by checking the miners on broadcast. Also this would only work online with digital goods in an instant delivery. Amazon would just not ship the physical goods.