📅 Original date posted:2022-07-25
📝 Original message:even with zero block reward and minimal fees, large holders who perform
zero transactions will still mine in order to preserve the value of the
network
this is not "mining your own tx", it is unrelated
this is "mining at a small loss to preserve your stake"
not only don't we need issuance or fees, but also the censorship resistance
is not meaningfully improved with issuance
On Mon, Jul 18, 2022 at 3:14 PM Erik Aronesty <erik at q32.com> wrote:
>
>> subsidy to directly tie miner revenue to the total value of Bitcoin
>> makes it not exactly how we want to incentivise a service that keeps
>>
>>
> again, this is meaningless. if the fees aren't enough to keep bitcoin
> secure for large transactions, then large holders are incentivised to mine
>
> that's it.
>
> it's not complicated
>
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20220725/be53600c/attachment-0001.html>;
Erik Aronesty [ARCHIVE] /
npub1y2…5taj0
2023-06-07 23:11:29
in reply to nevent1q…ghx7
Author Public Key
npub1y22yec0znyzw8qndy5qn5c2wgejkj0k9zsqra7kvrd6cd6896z4qm5taj0Published at
2023-06-07 23:11:29Event JSON
{
"id": "7da4951aaf11a0739c6c34e9b719f91c79d1b46ee16f82a123974c7c6c4b3af5",
"pubkey": "22944ce1e29904e3826d25013a614e4665693ec514003efacc1b7586e8e5d0aa",
"created_at": 1686179489,
"kind": 1,
"tags": [
[
"e",
"58ba5412c6c2b5602710ac2f4e1819c2f92facaa3c9fa557b2ad25c78b5dd662",
"",
"root"
],
[
"e",
"08eb3363cd05028f57d23a5114d39f5337ea7b1ba19d0fd3f2d18437393dea64",
"",
"reply"
],
[
"p",
"82205f272f995d9be742779a3c19a2ae08522ca14824c3a3b01525fb5459161e"
]
],
"content": "📅 Original date posted:2022-07-25\n📝 Original message:even with zero block reward and minimal fees, large holders who perform\nzero transactions will still mine in order to preserve the value of the\nnetwork\n\nthis is not \"mining your own tx\", it is unrelated\n\nthis is \"mining at a small loss to preserve your stake\"\n\nnot only don't we need issuance or fees, but also the censorship resistance\nis not meaningfully improved with issuance\n\n\nOn Mon, Jul 18, 2022 at 3:14 PM Erik Aronesty \u003cerik at q32.com\u003e wrote:\n\n\u003e\n\u003e\u003e subsidy to directly tie miner revenue to the total value of Bitcoin\n\u003e\u003e makes it not exactly how we want to incentivise a service that keeps\n\u003e\u003e\n\u003e\u003e\n\u003e again, this is meaningless. if the fees aren't enough to keep bitcoin\n\u003e secure for large transactions, then large holders are incentivised to mine\n\u003e\n\u003e that's it.\n\u003e\n\u003e it's not complicated\n\u003e\n-------------- next part --------------\nAn HTML attachment was scrubbed...\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20220725/be53600c/attachment-0001.html\u003e",
"sig": "bd8180435aa7750a7028990f406b3e19e9ca24b5089a153f8f394d742997be0750c27866af5f6759c96fea9a36fa58d6c36535f2d18463626941697d6c35abdf"
}