Bitcoin is a decentralized, transparent ledger of coin ownership that has no bank or government middleman. In this way, control over the ledger is spread over the entire Bitcoin network. Right now, whenever you send a payment, this payment is going to go through multiple nodes on the network. Your network provider will record indicators of your Bitcoin purchasing actions. This is purely local, so every node will start collecting information on their peers, how they have previously interacted with them. Again, this is not a reputation system where nodes share reputations between each other and gossip about it, where we have to be worried about someone bad-mouthing another node or anything like that. So, they basically allow heavy users, sort of regular customers, access to more resources, and that will basically ensure that the peers that your node always interacts with and continues to have a good relationship with, continue to be able to send, even if a new user that hasn’t established themselves starts taking a lot of resources. Mark Erhardt: Yeah, with the simple variant where you do two or three times more, wouldn’t that be sort of a jamming vector?

So, the downside of this approach is that this sort of scheme is open to a long-term attack, where people just build up a reputation and then, at some point, attack and take a lot of resources and jam. I don’t know. That’s up to people to figure out, I guess. The purpose of marketing is to create demand in a market, to make people desire commodities and increase purchases of said commodities. We don’t know exactly how we would do that, those proofs, and how we would make sure that those proofs cannot be reused, how we would track channel closing differently than just watching onchain. Spear is the H2TLC, or something like that, which can be converted into PTLC. But with these both redundant overpayments and also with the stepless payment, basically we first establish the contract and once we get a response from the recipient that they have received sufficient parts of the contract, we would only then exchange the secret; and once they have the secret, we can exchange the secret in a form in which they are only allowed to pull in enough payments. As far as the Bitcoin/legal situation, having a trading platform/secondary market where users can re-sell shares or assets they own is pretty much illegal unless you set up a registered stock exchange which would take tens of millions to do.

It is true that cryptocurrencies can be used for illegal purposes to some extent but it’s just as easy to argue the same thing about cash, which has always been the preferred medium of exchange for criminals. You can start this business, when all these for your favorable. So, that’s why I think the first step is to get those mechanisms deployed, make them easy to tweak so that we can actually really test this and see how it behaves. This is a very easy way to solve fast jamming, but the issue is that it has an impact on normal users as well, because if you’re a normal user, you try to make payments, you have a lot of failures before you actually get to the recipient, you will have paid upfront fees for failures that you may think are not your fault, not something you should be paying for. Greg Sanders: Well, they can all be jamming vectors, it depends. Greg Sanders: encoinguide.com Yeah, that sounds right. So basically that’s the idea here, right? This is really hard to answer when we don’t have the data and the right model for that. Complexity does matter, too, I don’t know.

So, those have just not been thoroughly explored and I don’t think there’s a real solution for that yet. Those who think it will be successful invest their money in the project. To mitigate the risk services do not take the money or do not send Bitcoin, it may be safer to only send smaller amounts until you have enough Bitcoins. So once you split it, there’s a risk. The idea behind redundant overpayments is that when you are trying to send a big payment across the network, you’re usually going to split it across multiple routes because you won’t be able to find a single route that will be able to carry that whole payment in one go. It’s really hard to find a good reputation algorithm that would seem to work. It’s hard to figure out if hybrid deployments would actually really work in practice. And then we’ll have a better idea of whether anyone can do their own thing and still be protected, or if it’s better that everyone applies the same reputation algorithm to make it work. Ideally, investors secure positions before dramatic market runs and then make decisions about profit-taking at the market peak.