Gavin Andresen - 2012-08-25 18:14:38

@s{quotedtext} @s{quotedtext} That's wrong; you wouldn't be able to send a new-style transaction to a merchant unless they'd already upgraded and were publishing new-style addresses.

... which would actually just be BIP16 addresses, with the redemption script being something like  <ed25519_pubkey> OP_NOP1
(I'm wrong about needing a new bitcoin address type).

Obviously merchants wouldn't start doing that until a majority of miners were interpreting OP_NOP1 as OP_ED25519_VERIFY.

@s{quotedtext} @s{quotedtext} http://gavintech.blogspot.com/2012/07/off-chain-transactions.html