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[185.26.156.114]) by gmr-mx.google.com with ESMTPS id 2adb3069b0e04-5593c7f46c7si238067e87.3.2025.07.15.15.02.09 for (version=TLS1_3 cipher=TLS_AES_256_GCM_SHA384 bits=256/256); Tue, 15 Jul 2025 15:02:09 -0700 (PDT) Received-SPF: pass (google.com: domain of murch@murch.one designates 185.26.156.114 as permitted sender) client-ip=185.26.156.114; Received: from farbauti.uberspace.de (farbauti.uberspace.de [185.26.156.235]) by mailgate02.uberspace.is (Postfix) with ESMTPS id F1F331803EA for ; Wed, 16 Jul 2025 00:02:07 +0200 (CEST) Received: (qmail 13187 invoked by uid 989); 15 Jul 2025 22:02:07 -0000 Received: from unknown (HELO unkown) (::1) by farbauti.uberspace.de (Haraka/3.0.1) with ESMTPSA; Wed, 16 Jul 2025 00:02:07 +0200 Message-ID: <634ea7a6-1695-46e8-a337-1fef1ac17a66@murch.one> Date: Tue, 15 Jul 2025 15:02:04 -0700 MIME-Version: 1.0 User-Agent: Mozilla Thunderbird Subject: Re: [bitcoindev] [BIP Proposal] Proof-of-Activity Reclamation (PoAR) To: bitcoindev@googlegroups.com References: Content-Language: en-US From: Murch In-Reply-To: Content-Type: text/plain; charset="UTF-8"; format=flowed Content-Transfer-Encoding: quoted-printable X-Rspamd-Bar: --- X-Rspamd-Report: BAYES_HAM(-3) XM_UA_NO_VERSION(0.01) MIME_GOOD(-0.1) X-Rspamd-Score: -3.09 X-Original-Sender: murch@murch.one X-Original-Authentication-Results: gmr-mx.google.com; dkim=pass header.i=@murch.one header.s=uberspace header.b=Ft3JXb1l; spf=pass (google.com: domain of murch@murch.one designates 185.26.156.114 as permitted sender) smtp.mailfrom=murch@murch.one Precedence: list Mailing-list: list bitcoindev@googlegroups.com; contact bitcoindev+owners@googlegroups.com List-ID: X-Google-Group-Id: 786775582512 List-Post: , List-Help: , List-Archive: , List-Unsubscribe: , X-Spam-Score: -0.8 (/) Hi Donald and all, The idea of recycling dormant coins is one that has made the rounds=20 several times before, including in the form of the "Bitcoin Dormant=20 Recovery Proposal" just a couple months ago:=20 https://github.com/bitcoin/bips/pull/1852 I don=E2=80=99t have the impression that the idea has been particularly pop= ular,=20 and as BIPs go, this one is missing crucial parts, e.g.: =E2=80=A2 A more comprehensive motivation based on thorough analysis how=20 redistributing dormant coins improves the system as this constitutes a=20 departure of the status quo for the supply schedule =E2=80=A2 Specification of the redistribution rate and mechanism =E2=80=A2 Specification of the out-of-band activity proof mechanism and how= this=20 out-of-band information would be introduced into the Bitcoin system as=20 consensus critical information, and discussion of alternative approaches=20 and why this is the correct approach =E2=80=A2 Rationale for reclaiming dormant coins at halvings rather than UT= XOs=20 expiring after a fixed number of blocks =E2=80=A2 An analysis of the backward compatibility, including especially t= he=20 discussion of how to conduct this hard fork In its current state, I would consider this document premature for a=20 pull request and would encourage further development. Generally, the=20 arguments and reasoning used in the motivation and rationale will need a=20 lot more work to make a hard fork and a change in the economic paradigm=20 palatable. Cheers, Murch On 2025-07-10 15:55, 'Donald Dienst' via Bitcoin Development Mailing=20 List wrote: > Dear Bitcoin developers, > > I would like to propose a new BIP titled "Proof-of-Activity=20 > Reclamation (PoAR)," which aims to address the long-term economic=20 > effects of lost and abandoned UTXOs. > > This proposal introduces a fully automated and rule-based mechanism to=20 > gradually recycle coins that have been provably inactive for over 20=20 > years. These coins are returned to the undistributed pool and slowly=20 > reintroduced via future block rewards=E2=80=94extending miner incentives = while=20 > respecting the 21 million BTC cap. > > You can view the full proposal here: > https://gist.github.com/Brandchatz/56c39d289db9e56190c13922850815b8 > > I welcome your thoughts, suggestions, and critiques. > > Best regards, > Donald Dienst > dddienst@protonmail.com -- > You received this message because you are subscribed to the Google=20 > Groups "Bitcoin Development Mailing List" group. > To unsubscribe from this group and stop receiving emails from it, send=20 > an email to bitcoindev+unsubscribe@googlegroups.com. > To view this discussion visit=20 > https://groups.google.com/d/msgid/bitcoindev/a186c724-eef7-4964-9aba-85ae= 9cce2249n%40googlegroups.com=20 > . --=20 You received this message because you are subscribed to the Google Groups "= Bitcoin Development Mailing List" group. To unsubscribe from this group and stop receiving emails from it, send an e= mail to bitcoindev+unsubscribe@googlegroups.com. To view this discussion visit https://groups.google.com/d/msgid/bitcoindev/= 634ea7a6-1695-46e8-a337-1fef1ac17a66%40murch.one.