public inbox for bitcoindev@googlegroups.com
 help / color / mirror / Atom feed
From: Mark Friedenbach <mark@monetize.io>
To: Benjamin Lindner <ben@benlabs.net>
Cc: Bitcoin Dev <bitcoin-development@lists.sourceforge.net>
Subject: Re: [Bitcoin-development] Blocking uneconomical UTXO creation
Date: Mon, 11 Mar 2013 11:59:14 -0700	[thread overview]
Message-ID: <CACh7GpHnAc8JBce4uvtU9Qw+1Th9R9_6ySc83ZEBGC-tX+y_9A@mail.gmail.com> (raw)
In-Reply-To: <75F78378-7580-4D69-A5EA-E943AF7CEB0C@benlabs.net>

[-- Attachment #1: Type: text/plain, Size: 1068 bytes --]

On Mon, Mar 11, 2013 at 11:17 AM, Benjamin Lindner <ben@benlabs.net> wrote:

> > Just activate a non-proportional
> > demurrage (well, I won't complain if you just turn bitcoin into
> > freicoin, just think that non-proportional would be more acceptable by
> > most bitcoiners) that incentives old transactions to be moved
>
> You could delegate the decision to the user with a rule like:
>
> if (output<fee):
>  limit lifetime of the UTXO to 10 years.
> if (output>fee):
>  unlimited lifetime
>
> Then, when a user creates a transaction, he can decide whether he wants to
> have limited or unlimited lifetime. The rationale for limiting the lifetime
> for (output<fee) transactions is that they may have no inherent economic
> incentive to be spend.
>

If you think demurrage has a bad rep, wait until you see the response to
escheatment (which is what's really being proposed here).

UTXO growth over time is worst-case linear, while computational resources
increase exponentially. Mike nailed it on the head: all of this is a
solution in search of a problem.

Mark

[-- Attachment #2: Type: text/html, Size: 1597 bytes --]

  reply	other threads:[~2013-03-11 19:30 UTC|newest]

Thread overview: 23+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
2013-03-10  4:31 [Bitcoin-development] Blocking uneconomical UTXO creation Peter Todd
2013-03-11 11:01 `  Jorge Timón
2013-03-11 15:36   ` Gavin Andresen
2013-03-11 16:45     `  Jorge Timón
2013-03-11 16:46       `  Jorge Timón
2013-03-11 16:54         ` Mike Hearn
2013-03-11 17:08           `  Jorge Timón
2013-03-11 18:17           ` Benjamin Lindner
2013-03-11 18:59             ` Mark Friedenbach [this message]
2013-03-11 18:59             `  Jorge Timón
2013-03-11 19:08             ` Tadas Varanavičius
2013-03-11 22:19               ` Mike Hearn
2013-03-11 22:25                 ` Tadas Varanavičius
2013-03-11 22:39                   ` Mike Hearn
2013-03-11 23:26                     ` Tadas Varanavičius
2013-03-11 17:18     ` Jeff Garzik
2013-03-11 20:08   ` Rune Kjær Svendsen
2013-03-11 20:36     ` Michael Gronager
2013-03-11 21:01       ` Gregory Maxwell
2013-03-11 21:15         ` Michael Gronager
2013-03-12  7:49 ` Peter Todd
2013-03-13  5:31   ` Stephen Pair
2013-03-13  9:20     `  Jorge Timón

Reply instructions:

You may reply publicly to this message via plain-text email
using any one of the following methods:

* Save the following mbox file, import it into your mail client,
  and reply-to-all from there: mbox

  Avoid top-posting and favor interleaved quoting:
  https://en.wikipedia.org/wiki/Posting_style#Interleaved_style

* Reply using the --to, --cc, and --in-reply-to
  switches of git-send-email(1):

  git send-email \
    --in-reply-to=CACh7GpHnAc8JBce4uvtU9Qw+1Th9R9_6ySc83ZEBGC-tX+y_9A@mail.gmail.com \
    --to=mark@monetize.io \
    --cc=ben@benlabs.net \
    --cc=bitcoin-development@lists.sourceforge.net \
    /path/to/YOUR_REPLY

  https://kernel.org/pub/software/scm/git/docs/git-send-email.html

* If your mail client supports setting the In-Reply-To header
  via mailto: links, try the mailto: link
Be sure your reply has a Subject: header at the top and a blank line before the message body.
This is a public inbox, see mirroring instructions
for how to clone and mirror all data and code used for this inbox