Hi Eric, > On Jul 6, 2019, at 03:28, Eric Voskuil <e...@voskuil.org> wrote: > > > >> On Jul 5, 2019, at 17:17, ZmnSCPxj <zmnsc...@protonmail.com> wrote: >> >> Good morning Eric, >> >>> But it’s worth noting that early recovery of the UTXO entirely eliminates >>> the value of the time lock cost to the ad market. The most obvious example >>> is one encumbering the coin to himself, then releasing it with his own two >>> signatures whenever he wants. In other words, there is no encumbrance at >>> all, just a bunch of pointless obscurantion. >> >> You still do not understand. >> I strongly suggest actually reading the post instead of skimming it. > > I am responding to the cryptoeconomic principles, not the implementation > details. Based on your comments here I am not misrepresenting those > principles. > > For example, I have shown that the multisig unlock implementation reduces the > presumably-encumbered UTXO to simply a UTXO. You have not disputed that. In > fact below you have accepted it (more below). > >> The advertisement is broadcast to new nodes on the ad network if and only if >> its backing UTXO remains unspent. >> Once the UTXO is spent, then the advertisement is considered no longer valid >> and will be outright deleted by existing nodes, and new nodes will not learn >> of them (and would consider it spam if it is forced to them when the UTXO is >> already spent, possibly banning the node that pushes the advertisement at >> them). >> >> Thus the locked-ness of the UTXO is the lifetime of the advertisement. > > The term “locked” here is misused. A unspent output that can be spent at any > time is just an unspent output. The fact that you can “unencumber” your own > coins should make this exceedingly obvious: > >> Once you disencumber the coins (whether your own, or rented) then your >> advertisement is gone; forever. > > As I have shown, there is no *actual* encumbrance. >
If you have to forgo using your money while using a service that encumbers you. You incur opportunity cost proportional to time you use the service and the amount you waived to use elsewhere. No crypto is needed to understand this. >> Your advertisement exists only as long as the UTXO is unspent. > > Exactly, which implies *any* UTXO is sufficient. All that the ad network > requires is proof of ownership of any UTXO. > Not any, but one with significant value, so a service with limited bandwith can prioritize by that. > Best, > Eric > >> Regards. >> ZmnSCPxj Best, Tamas Blummer
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