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From: Erik Aronesty <erik@q32.com>
To: Tom Harding <tomh@thinlink.com>,
	 Bitcoin Protocol Discussion
	<bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] Security problems with relying on transaction fees for security
Date: Wed, 13 Jul 2022 08:18:43 -0400	[thread overview]
Message-ID: <CAJowKgK2dgs+0edq4aN-dK9qeGAWBhUcgH_Hu=_H+yx8LBHoVw@mail.gmail.com> (raw)
In-Reply-To: <6617a48d-15b9-699c-42f3-35b32245102e@thinlink.com>

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Bitcoin doesn't rely on fees.  It relys on users protecting the network out
of self interest

- running nodes now
- mining later

It has always been incentivised by holders acting out of self interest

If large holders allocating a small percentage to mining to protect their
interest, that's all Bitcoin needs

Although I can think of other protocols that work that way and people don't
like them







On Wed, Jul 13, 2022, 4:06 AM Tom Harding via bitcoin-dev <
bitcoin-dev@lists.linuxfoundation.org> wrote:

> On 7/11/22 15:26, Peter Todd via bitcoin-dev wrote:
> >
> > Anyway, designing protocols for "price go up forever" hopium is a bad
> idea.
>
> Yet that is the design, and it's a good one.  It is equivalent to
> relying on bitcoin to steadily grow in utility vs. fiat currencies.
>
> If it fails to do that, there's no point anyway.
>
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev@lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>

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  reply	other threads:[~2022-07-13 12:19 UTC|newest]

Thread overview: 35+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
2022-07-11 18:12 [bitcoin-dev] Security problems with relying on transaction fees for security Bram Cohen
2022-07-11 18:38 ` micaroni
2022-07-11 18:43 ` Erik Aronesty
2022-07-11 19:45 ` vjudeu
2022-07-11 20:35 ` Russell O'Connor
2022-07-11 20:52   ` Erik Aronesty
2022-07-11 21:36   ` Peter Todd
2022-07-11 21:56     ` Peter Todd
2022-07-12  0:21       ` Russell O'Connor
2022-07-12  0:37         ` Peter Todd
2022-07-14  0:54         ` Anthony Towns
2022-07-11 21:18 ` Pox
2022-07-11 21:53 ` Peter Todd
2022-07-12  2:47   ` Bram Cohen
2022-07-11 22:19 ` James MacWhyte
2022-07-11 22:26   ` Peter Todd
2022-07-12  0:01     ` James MacWhyte
2022-07-12  0:31       ` Peter Todd
2022-07-13  0:38     ` Tom Harding
2022-07-13 12:18       ` Erik Aronesty [this message]
2022-07-11 23:29 ` Anthony Towns
2022-07-12  3:56 Peter
2022-07-12 11:57 ` Erik Aronesty
2022-07-12 15:08   ` Peter
2022-07-12 17:46   ` Ryan Grant
     [not found] <mailman.82083.1657699581.8511.bitcoin-dev@lists.linuxfoundation.org>
2022-07-13  9:43 ` John Tromp
2022-07-13 11:56   ` John Tromp
2022-07-13 12:11   ` Gino Pinuto
2022-07-13 13:29     ` Manuel Costa
2022-07-14  9:33       ` vjudeu
2022-07-14  9:57         ` Erik Aronesty
2022-07-14 11:42           ` Gino Pinuto
2022-07-14 16:01             ` Erik Aronesty
2022-07-14 16:27             ` Manuel Costa
2022-07-15  6:03               ` vjudeu

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