Re: [bitcoin-dev] UTXO growth scaling solution proposal

[Erik Aronesty <erik@q32.com>]

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I agree, it is only a good idea in the event of a quantum computing threat
to the security of Bitcoin.

On Tue, Aug 22, 2017 at 9:45 AM, Chris Riley via bitcoin-dev <
bitcoin-dev@lists.linuxfoundation.org> wrote:

> This seems to be drifting off into alt-coin discussion.  The idea that we
> can change the rules and steal coins at a later date because they are
> "stale" or someone is "hoarding" is antithetical to one of the points of
> bitcoin in that you can no longer control your own money ("be your own
> bank") because someone can at a later date take your coins for some reason
> that is outside your control and solely based on some rationalization by a
> third party.  Once the rule is established that there are valid reasons why
> someone should not have control of their own bitcoins, what other reasons
> will then be determined to be valid?
>
> I can imagine Hal Finney being revived (he was cryo-preserved at Alcor if
> you aren't aware) after 100 or 200 years expecting his coins to be there
> only to find out that his coins were deemed "stale" so were "reclaimed" (in
> the current doublespeak - e.g. stolen or confiscated).  Or perhaps he
> locked some for his children and they are found to be "stale" before they
> are available.  He said in March 2013, "I think they're safe enough" stored
> in a paper wallet.  Perhaps any remaining coins are no longer "safe enough."
>
> Again, this seems (a) more about an alt-coin/bitcoin fork or (b) better in
> bitcoin-discuss at best vs bitcoin-dev. I've seen it discussed many times
> since 2010 and still do not agree with the rational that embracing allowing
> someone to steal someone else's coins for any reason is a useful change to
> bitcoin.
>
>
>
>
> On Tue, Aug 22, 2017 at 4:19 AM, Matthew Beton via bitcoin-dev <
> bitcoin-dev@lists.linuxfoundation.org> wrote:
>
>> Okay so I quite like this idea. If we start removing at height 630000 or
>> 840000 (gives us 4-8 years to develop this solution), it stays nice and
>> neat with the halving interval. We can look at this like so:
>>
>> B - the current block number
>> P - how many blocks behind current the coin burning block is. (630000,
>> 840000, or otherwise.)
>>
>> Every time we mine a new block, we go to block (B-P), and check for stale
>> coins. These coins get burnt up and pooled into block B's miner fees. This
>> keeps the mining rewards up in the long term, people are less likely to
>> stop mining due to too low fees. It also encourages people to keep moving
>> their money around the enconomy instead of just hording and leaving it.
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>
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