š
Original date posted:2022-07-07
š Original message:.
>
> My thoughts on this are that we will need to periodically make some
> software change to adjust a *target amount of investment in security*,
> because the
>
I think perhaps you're underestimating the degree to which utility can be
added to the main chain to encourage fees.
For example, lightning channel open and close transactions are more
valuable, via aggregation, than simple money transfers.
The value of higher utility transactions goes up fairly quickly.
There is no end of the possibility of fee levels in response to increased
utility
Other networks have clearly proven the extremes of this, with rampant fees
appearing rapidly in response to higher utility levels
Because this has already been proven on other networks, we can plan to
gradually increase the utility of on-chain transactions in response to
reward reductions
This should be more than sufficient to offset and maintain sufficient
security
... Hence the title of this thread.
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Erik Aronesty [ARCHIVE] /
npub1y2ā¦5taj0
2023-06-07 23:10:57
in reply to nevent1qā¦h694
Author Public Key
npub1y22yec0znyzw8qndy5qn5c2wgejkj0k9zsqra7kvrd6cd6896z4qm5taj0Published at
2023-06-07 23:10:57Event JSON
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Original date posted:2022-07-07\nš Original message:.\n\n\u003e\n\u003e My thoughts on this are that we will need to periodically make some\n\u003e software change to adjust a *target amount of investment in security*,\n\u003e because the\n\u003e\n\nI think perhaps you're underestimating the degree to which utility can be\nadded to the main chain to encourage fees.\n\nFor example, lightning channel open and close transactions are more\nvaluable, via aggregation, than simple money transfers.\n\nThe value of higher utility transactions goes up fairly quickly.\n\nThere is no end of the possibility of fee levels in response to increased\nutility\n\nOther networks have clearly proven the extremes of this, with rampant fees\nappearing rapidly in response to higher utility levels\n\nBecause this has already been proven on other networks, we can plan to\ngradually increase the utility of on-chain transactions in response to\nreward reductions\n\nThis should be more than sufficient to offset and maintain sufficient\nsecurity\n\n... Hence the title of this thread.\n-------------- next part --------------\nAn HTML attachment was scrubbed...\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20220707/3fb02d66/attachment-0001.html\u003e",
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