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On 22 February 2015 08:50:30 GMT-05:00, Matt Whitlock <b...@mattwhitlock.name> wrote: >On Sunday, 22 February 2015, at 2:29 pm, Natanael wrote: >> In other words, you are unprotected and potentially at greater risk >if you >> create a transaction depending on another zero-confirmation >transaction. > >This happened to one of the merchants at the Bitcoin 2013 conference in >San Jose. They sold some T-shirts and accepted zero-confirmation >transactions. The transactions depended on other unconfirmed >transactions, which never confirmed, so this merchant never got their >money. Great example! Systems that appear more secure than they really are to uninformed users are dangerous. Same reason why brain wallets are such scary technology, and equally, why I like to give a few dollars away every so often to the guys brute forcing weak ones. >I keep telling people not to accept transactions with zero >confirmations, but no one listens. In my experience there's a pattern of "accept unconfirmed; get burned badly/see someone else get burned; stop relying on them" Although of course, there's some bias in that people contact me asking what to do after they get burned. :) -----BEGIN PGP SIGNATURE----- iQE9BAEBCAAnIBxQZXRlciBUb2RkIDxwZXRlQHBldGVydG9kZC5vcmc+BQJU6eKG AAoJEMCF8hzn9LncGz0H/ivA9J4MqsVnkPm9JVAIXgZiT7rAVO0Rp1lO/8PGPS6K dXBFXESicszeBx5yeyQrLUFh58DVgp21sFHSMNTKmujDJJgxNf/ygffN9dTLriwt PJcDWvxPzqyLy2e/CloRonxwlO3+Umv1OiPs1yy7a7auDVAEm1xvh/pc3A48u1bO ++cyxZs8j5yv3Ms2n/FmGekhL9jZHJAgmiVnSks0cMqq9+cYipEjy+FEq3KFGlFI 4iZ58f57g6W7bVqM+9Z6dbLczWobnQ+nfo7lFZWgGdbhKf4Jv7tHOcfSw4nbmJz4 OgWmKtM724h7abOIrqJnTF0u10dmapVv+lRtjiGXo8c= =7W03 -----END PGP SIGNATURE----- ------------------------------------------------------------------------------ Download BIRT iHub F-Type - The Free Enterprise-Grade BIRT Server from Actuate! Instantly Supercharge Your Business Reports and Dashboards with Interactivity, Sharing, Native Excel Exports, App Integration & more Get technology previously reserved for billion-dollar corporations, FREE http://pubads.g.doubleclick.net/gampad/clk?id=190641631&iu=/4140/ostg.clktrk _______________________________________________ Bitcoin-development mailing list Bitcoin-development@lists.sourceforge.net https://lists.sourceforge.net/lists/listinfo/bitcoin-development
