[bitcoin-dev] The use OP_COUNT_ACKS for paying for a common good for miners

[bitcoin-dev] The use OP_COUNT_ACKS for paying for a common good for miners

[Sergio Demian Lerner]

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One side benefit of OP_COUNT_ACKS is that it enables a completely different
use case:

It allow users to pay for any service miners can provide as group for the
common good (e.g. fee payment smoothing over many blocks). For instance,
users could pay miners to jointly buy better Internet service to improve
bandwidth or reduce latency between them.

By sending bitcoins to a script containing OP_COUNT_ACKS requiring 51% of
miners approval and adding a special text tag to such outputs such as
"FOR-MINERS-TO-BUY-X", users can send bitcoins to miners and ask the
majority of them to vote on the proposal, if accepted create a transaction
to redeem those funds. This could help to address the so-called tragedy of
the commons problem that Bitcoin may face in in long-term, by users
crowdfunding mining of the following n blocks.

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Re: [bitcoin-dev] The use OP_COUNT_ACKS for paying for a common good for miners

[Jorge Timón]

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When would miners vote no to receive more funds?
Also, why would they spend the funds buying X once they get them?

On Oct 3, 2016 00:58, "Sergio Demian Lerner via bitcoin-dev" <
bitcoin-dev@lists.linuxfoundation.org> wrote:

> One side benefit of OP_COUNT_ACKS is that it enables a completely
> different use case:
>
> It allow users to pay for any service miners can provide as group for the
> common good (e.g. fee payment smoothing over many blocks). For instance,
> users could pay miners to jointly buy better Internet service to improve
> bandwidth or reduce latency between them.
>
> By sending bitcoins to a script containing OP_COUNT_ACKS requiring 51% of
> miners approval and adding a special text tag to such outputs such as
> "FOR-MINERS-TO-BUY-X", users can send bitcoins to miners and ask the
> majority of them to vote on the proposal, if accepted create a transaction
> to redeem those funds. This could help to address the so-called tragedy of
> the commons problem that Bitcoin may face in in long-term, by users
> crowdfunding mining of the following n blocks.
>
>
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev@lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>
>

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