📅 Original date posted:2019-03-31
📝 Original message:one year seems too long. i think with the BIP-148 experience you have
we could easily get there in 6 months at most.
Luke Dashjr via bitcoin-dev <bitcoin-dev at lists.linuxfoundation.org>
escreveu no dia segunda, 1/04/2019 à(s) 01:33:
>
> Certain parts of the community have been selling bitcoins for unreasonably
> low prices. This has halted Bitcoin's valuation at $20k and even driven the
> price down below $15k! However, clearly Bitcoin is worth much more than
> that, and there is widespread support for higher prices.
>
> In light of this, I have written and implemented two BIPs: one to add a
> signed price field to Bitcoin transactions, and the other to softfork a
> minimum price of $50k USD/BTC a year from today.
>
> The BIPs are here, as well as included at the bottom of this email for
> convenience:
> https://github.com/luke-jr/bips/blob/softfork_50k/bip-usdprice.mediawiki
> https://github.com/luke-jr/bips/blob/softfork_50k/bip-softfork-50k-price.mediawiki
>
> A reference implementation is here:
> https://github.com/bitcoin/bitcoin/compare/v0.17.1...luke-jr:softfork_50k
>
> Please review ASAP so we can get these deployed in Bitcoin Core v0.18.
>
> Luke
>
>
> <pre>
> BIP: ?
> Layer: Applications
> Title: Signed USD Price Indicator
> Author: Luke Dashjr <luke+bip at dashjr.org>
> Comments-Summary: No comments yet.
> Comments-URI: https://github.com/bitcoin/bips/wiki/Comments:BIP-????
> Status: Draft
> Type: Standards Track
> Created: 2019-04-01
> License: BSD-2-Clause
> </pre>
>
> ==Abstract==
>
> This BIP proposes a method to explicitly specify and sign the USD/BTC price
> for transactions.
>
> ==Copyright==
>
> This BIP is licensed under the BSD 2-clause license.
>
> ==Motivation==
>
> Certain parts of the community have been selling bitcoins for unreasonably low
> prices. This has halted Bitcoin's valuation at $20k and even driven the price
> down below $15k! However, clearly Bitcoin is worth much more than that, and
> there is widespread support for higher prices.
>
> This problem can be fixed by setting a global minimum price for bitcoins.
> Unfortunately, today, the consensus protocol is completely oblivious to the
> price bitcoins are traded at. Therefore, we must first add a field to Bitcoin
> transactions to indicate their price.
>
> ==Specification==
>
> ===New field and legal implication===
>
> A new field is added to Bitcoin transactions. This field, if present, must
> represent the honest and true USD/BTC rate used for the transaction. By
> signing the transaction, the sender legally affirms this is the valuation of
> bitcoins used for the transaction.
>
> For the avoidance of doubt: when the transaction is valued in a currency other
> than USD, any reasonable exchange rate may be used to come up with the USD
> valuation.
>
> ===Serialisation===
>
> When serialising the transaction for any purpose, including signing, weight
> calculation, and so on, the output count must be incremented by one. Prior to
> the first real output, the following bytes must be inserted:
>
> * Constant: 00 00 00 00 00 00 00 00
> * A single byte, the size in bytes of the remainder of the inserted data
> * Constant: 6a 04 55 53 44 24
> * A single byte, the size in bytes of the remainder of the inserted data
> * The USD/BTC rate used for the transaction, in standard signed integer
> serialisation, with all leading zeros removed (except as necessary to
> preserve the sign bit).
>
> ==Backwards compatibility==
>
> ===Consensus===
>
> The new price field is serialised as a dummy output, with a value of zero, and
> a scriptPubKey that begins with OP_RETURN (6a). Existing nodes will ignore
> this dummy output, and the leading OP_RETURN in the scriptPubKey ensures it
> is never considered spendable.
>
> Therefore, current nodes will ignore the new field entirely, and accept
> transactions using it.
>
> ===Wallets===
>
> Existing wallets do not typically generate price indicators as specified.
> Under this BIP, this absence of the field is perfectly acceptable.
>
> ==Reference implementation==
>
> https://github.com/bitcoin/bitcoin/compare/v0.17.1...luke-jr:usd_price_tx_field
>
> <pre>
> BIP: ?
> Layer: Consensus (soft fork)
> Title: $50k USD/BTC Minimum Price
> Author: Luke Dashjr <luke+bip at dashjr.org>
> Comments-Summary: No comments yet.
> Comments-URI: https://github.com/bitcoin/bips/wiki/Comments:BIP-????
> Status: Draft
> Type: Standards Track
> Created: 2019-04-01
> License: BSD-2-Clause
> Requires: usdprice
> </pre>
>
> ==Abstract==
>
> This BIP defines a minimum price of $50k USD/BTC for Bitcoin transactions.
>
> ==Copyright==
>
> This BIP is licensed under the BSD 2-clause license.
>
> ==Motivation==
>
> Certain parts of the community have been selling bitcoins for unreasonably low
> prices. This has halted Bitcoin's valuation at $20k and even driven the price
> down below $15k! However, clearly Bitcoin is worth much more than that, and
> there is widespread support for higher prices.
>
> bip-usdprice defines a new field to indicate the price of transactions. Using
> this, we can softfork to require a minimum transaction price.
>
> ==Specification==
>
> Beginning with block height 622370 (expected approximately 2020 April 1), a
> block is reject as invalid unless all transactions it contains both declare a
> USD/BTC price (as defined in bip-usdprice) and specify a price that is at a
> minimum $50k USD/BTC.
>
> ==Backwards compatibility==
>
> As a soft fork, older nodes will continue to accept the blockchain without
> modification. Non-upgraded nodes, however, will not validate the minimum
> price requirement, and may accept invalid blocks if miners choose to make
> them. Since transactions not declaring a price are at this time still
> common-place, the softfork activation has been set a full year into the
> future to ensure time to upgrade both nodes and wallet software.
>
> ==Reference implementation==
>
> https://github.com/luke-jr/bitcoin/compare/usd_price_tx_field...softfork_50k
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev at lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
Ricardo Filipe [ARCHIVE] /
npub14f…hksaj
2023-06-07 18:17:14
in reply to nevent1q…j2xj
Author Public Key
npub14fwd2yh320mh4ge46ute8ukdyx2kjxy2ak4a05prjwrtzlmh9rvq8hksajPublished at
2023-06-07 18:17:14Event JSON
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"content": "📅 Original date posted:2019-03-31\n📝 Original message:one year seems too long. i think with the BIP-148 experience you have\nwe could easily get there in 6 months at most.\n\nLuke Dashjr via bitcoin-dev \u003cbitcoin-dev at lists.linuxfoundation.org\u003e\nescreveu no dia segunda, 1/04/2019 à(s) 01:33:\n\u003e\n\u003e Certain parts of the community have been selling bitcoins for unreasonably\n\u003e low prices. This has halted Bitcoin's valuation at $20k and even driven the\n\u003e price down below $15k! However, clearly Bitcoin is worth much more than\n\u003e that, and there is widespread support for higher prices.\n\u003e\n\u003e In light of this, I have written and implemented two BIPs: one to add a\n\u003e signed price field to Bitcoin transactions, and the other to softfork a\n\u003e minimum price of $50k USD/BTC a year from today.\n\u003e\n\u003e The BIPs are here, as well as included at the bottom of this email for\n\u003e convenience:\n\u003e https://github.com/luke-jr/bips/blob/softfork_50k/bip-usdprice.mediawiki\n\u003e https://github.com/luke-jr/bips/blob/softfork_50k/bip-softfork-50k-price.mediawiki\n\u003e\n\u003e A reference implementation is here:\n\u003e https://github.com/bitcoin/bitcoin/compare/v0.17.1...luke-jr:softfork_50k\n\u003e\n\u003e Please review ASAP so we can get these deployed in Bitcoin Core v0.18.\n\u003e\n\u003e Luke\n\u003e\n\u003e\n\u003e \u003cpre\u003e\n\u003e BIP: ?\n\u003e Layer: Applications\n\u003e Title: Signed USD Price Indicator\n\u003e Author: Luke Dashjr \u003cluke+bip at dashjr.org\u003e\n\u003e Comments-Summary: No comments yet.\n\u003e Comments-URI: https://github.com/bitcoin/bips/wiki/Comments:BIP-????\n\u003e Status: Draft\n\u003e Type: Standards Track\n\u003e Created: 2019-04-01\n\u003e License: BSD-2-Clause\n\u003e \u003c/pre\u003e\n\u003e\n\u003e ==Abstract==\n\u003e\n\u003e This BIP proposes a method to explicitly specify and sign the USD/BTC price\n\u003e for transactions.\n\u003e\n\u003e ==Copyright==\n\u003e\n\u003e This BIP is licensed under the BSD 2-clause license.\n\u003e\n\u003e ==Motivation==\n\u003e\n\u003e Certain parts of the community have been selling bitcoins for unreasonably low\n\u003e prices. This has halted Bitcoin's valuation at $20k and even driven the price\n\u003e down below $15k! However, clearly Bitcoin is worth much more than that, and\n\u003e there is widespread support for higher prices.\n\u003e\n\u003e This problem can be fixed by setting a global minimum price for bitcoins.\n\u003e Unfortunately, today, the consensus protocol is completely oblivious to the\n\u003e price bitcoins are traded at. Therefore, we must first add a field to Bitcoin\n\u003e transactions to indicate their price.\n\u003e\n\u003e ==Specification==\n\u003e\n\u003e ===New field and legal implication===\n\u003e\n\u003e A new field is added to Bitcoin transactions. This field, if present, must\n\u003e represent the honest and true USD/BTC rate used for the transaction. By\n\u003e signing the transaction, the sender legally affirms this is the valuation of\n\u003e bitcoins used for the transaction.\n\u003e\n\u003e For the avoidance of doubt: when the transaction is valued in a currency other\n\u003e than USD, any reasonable exchange rate may be used to come up with the USD\n\u003e valuation.\n\u003e\n\u003e ===Serialisation===\n\u003e\n\u003e When serialising the transaction for any purpose, including signing, weight\n\u003e calculation, and so on, the output count must be incremented by one. Prior to\n\u003e the first real output, the following bytes must be inserted:\n\u003e\n\u003e * Constant: 00 00 00 00 00 00 00 00\n\u003e * A single byte, the size in bytes of the remainder of the inserted data\n\u003e * Constant: 6a 04 55 53 44 24\n\u003e * A single byte, the size in bytes of the remainder of the inserted data\n\u003e * The USD/BTC rate used for the transaction, in standard signed integer\n\u003e serialisation, with all leading zeros removed (except as necessary to\n\u003e preserve the sign bit).\n\u003e\n\u003e ==Backwards compatibility==\n\u003e\n\u003e ===Consensus===\n\u003e\n\u003e The new price field is serialised as a dummy output, with a value of zero, and\n\u003e a scriptPubKey that begins with OP_RETURN (6a). Existing nodes will ignore\n\u003e this dummy output, and the leading OP_RETURN in the scriptPubKey ensures it\n\u003e is never considered spendable.\n\u003e\n\u003e Therefore, current nodes will ignore the new field entirely, and accept\n\u003e transactions using it.\n\u003e\n\u003e ===Wallets===\n\u003e\n\u003e Existing wallets do not typically generate price indicators as specified.\n\u003e Under this BIP, this absence of the field is perfectly acceptable.\n\u003e\n\u003e ==Reference implementation==\n\u003e\n\u003e https://github.com/bitcoin/bitcoin/compare/v0.17.1...luke-jr:usd_price_tx_field\n\u003e\n\u003e \u003cpre\u003e\n\u003e BIP: ?\n\u003e Layer: Consensus (soft fork)\n\u003e Title: $50k USD/BTC Minimum Price\n\u003e Author: Luke Dashjr \u003cluke+bip at dashjr.org\u003e\n\u003e Comments-Summary: No comments yet.\n\u003e Comments-URI: https://github.com/bitcoin/bips/wiki/Comments:BIP-????\n\u003e Status: Draft\n\u003e Type: Standards Track\n\u003e Created: 2019-04-01\n\u003e License: BSD-2-Clause\n\u003e Requires: usdprice\n\u003e \u003c/pre\u003e\n\u003e\n\u003e ==Abstract==\n\u003e\n\u003e This BIP defines a minimum price of $50k USD/BTC for Bitcoin transactions.\n\u003e\n\u003e ==Copyright==\n\u003e\n\u003e This BIP is licensed under the BSD 2-clause license.\n\u003e\n\u003e ==Motivation==\n\u003e\n\u003e Certain parts of the community have been selling bitcoins for unreasonably low\n\u003e prices. This has halted Bitcoin's valuation at $20k and even driven the price\n\u003e down below $15k! However, clearly Bitcoin is worth much more than that, and\n\u003e there is widespread support for higher prices.\n\u003e\n\u003e bip-usdprice defines a new field to indicate the price of transactions. Using\n\u003e this, we can softfork to require a minimum transaction price.\n\u003e\n\u003e ==Specification==\n\u003e\n\u003e Beginning with block height 622370 (expected approximately 2020 April 1), a\n\u003e block is reject as invalid unless all transactions it contains both declare a\n\u003e USD/BTC price (as defined in bip-usdprice) and specify a price that is at a\n\u003e minimum $50k USD/BTC.\n\u003e\n\u003e ==Backwards compatibility==\n\u003e\n\u003e As a soft fork, older nodes will continue to accept the blockchain without\n\u003e modification. Non-upgraded nodes, however, will not validate the minimum\n\u003e price requirement, and may accept invalid blocks if miners choose to make\n\u003e them. Since transactions not declaring a price are at this time still\n\u003e common-place, the softfork activation has been set a full year into the\n\u003e future to ensure time to upgrade both nodes and wallet software.\n\u003e\n\u003e ==Reference implementation==\n\u003e\n\u003e https://github.com/luke-jr/bitcoin/compare/usd_price_tx_field...softfork_50k\n\u003e _______________________________________________\n\u003e bitcoin-dev mailing list\n\u003e bitcoin-dev at lists.linuxfoundation.org\n\u003e https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev",
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}