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DIR:OUT; SFP:1102; SCL:1; SRVR:DM5PR12MB1180; H:DM5PR12MB1178.namprd12.prod.outlook.com; FPR:; SPF:None; PTR:InfoNoRecords; A:1; MX:1; LANG:en; received-spf: None (protection.outlook.com: pudar.com does not designate permitted sender hosts) spamdiagnosticoutput: 1:99 spamdiagnosticmetadata: NSPM Content-Type: multipart/alternative; boundary="_000_DM5PR12MB117879D6648A97D6393F401AC8370DM5PR12MB1178namp_" MIME-Version: 1.0 X-OriginatorOrg: pudar.com X-MS-Exchange-CrossTenant-Network-Message-Id: 067e428b-21c0-45e6-49f1-08d540c2afa1 X-MS-Exchange-CrossTenant-originalarrivaltime: 11 Dec 2017 18:12:05.4709 (UTC) X-MS-Exchange-CrossTenant-fromentityheader: Hosted X-MS-Exchange-CrossTenant-id: f1f6b170-5e9e-4033-afbb-29c23656ed60 X-MS-Exchange-Transport-CrossTenantHeadersStamped: DM5PR12MB1180 X-Spam-Status: No, score=-1.9 required=5.0 tests=BAYES_00,DKIM_SIGNED, DKIM_VALID, HTML_MESSAGE, RCVD_IN_DNSWL_NONE autolearn=ham version=3.3.1 X-Spam-Checker-Version: SpamAssassin 3.3.1 (2010-03-16) on smtp1.linux-foundation.org X-Mailman-Approved-At: Mon, 11 Dec 2017 18:22:53 +0000 Subject: Re: [bitcoin-dev] BIP - Dead Man's Switch X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.12 Precedence: list List-Id: Bitcoin Protocol Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Mon, 11 Dec 2017 18:12:09 -0000 --_000_DM5PR12MB117879D6648A97D6393F401AC8370DM5PR12MB1178namp_ Content-Type: text/plain; charset="us-ascii" Content-Transfer-Encoding: quoted-printable This topic has come up several times in recent years. While it is well inte= ntioned, it can have devastating outcomes for people that want to save long= term. If such a system were implemented, it would force people to move fun= ds around in order to not get nullified. In that process, it introduces mul= tiple opportunities for errors. Cold storage should be able to stay cold. I= personally would be apprehensive about implementing this kind of a system. ...via Android From: Teweldemedhin Aberra via bitcoin-dev Sent: Monday, December 11, 1:04 PM Subject: [bitcoin-dev] BIP - Dead Man's Switch To: bitcoin-dev@lists.linuxfoundation.org It is estimated that about 4 million of the about 16.4 Bitcoins ever mined = are lost forever because no one knows the private keys of some Bitcoin addr= esses. This effectively mean there are actually only 14.4 million Bitcoins = in circulation even though 16.4 million are mined. There is no way of elimi= nating the human errors that cause these losses of Bitcoin from circulation= , while the number of Bitcoin that will ever be mined is capped at 21 milli= on. This means the total number of Bitcoins that are in circulation will ev= entually become zero, bringing the network to an end. The solution this BIP proposes is to implementing a dead man's switch to Bi= tcoin addresses. The dead man's switch causes the Bitcoins assigned to dorm= ant addresses to automatically expire. A Bitcoin address is deemed dormant = if it is not used in transactions for some fixed length of time, say ten ye= ars. The calculation of the miner's reward should take into account the Bitcoins= that has expired. This means there is a possibility that miner's reward ca= n increase if sufficient number of Bitcoins expire. Ref: http://fortune.com/2017/11/25/lost-bitcoins/ Virus-free. www.avast.com --_000_DM5PR12MB117879D6648A97D6393F401AC8370DM5PR12MB1178namp_ Content-Type: text/html; charset="us-ascii" Content-Transfer-Encoding: quoted-printable
This topic has come up several times in recent years. While it is well inte= ntioned, it can have devastating outcomes for people that want to save long= term. If such a system were implemented, it would force people to move fun= ds around in order to not get nullified. In that process, it introduces multiple opportunities for errors. Cold sto= rage should be able to stay cold. I personally would be apprehensive about = implementing this kind of a system.

...via Android



From: Teweldemedhin Aberra via bitcoin-dev
Sent: Monday, December 11, 1:04 PM
Subject: [bitcoin-dev] BIP - Dead Man's Switch
To: bitcoin-dev@lists.linuxfoundation.org


It is estimated that about 4 million of the about 16.4 Bitcoins ever mined = are lost forever because no one knows the private keys of some Bitcoin addr= esses. This effectively mean there are actually only 14.4 million Bitcoins = in circulation even though 16.4 million are mined. There is no way of eliminating the human errors that ca= use these losses of Bitcoin from circulation, while the number of Bitcoin t= hat will ever be mined is capped at 21 million. This means the total number= of Bitcoins that are in circulation will eventually become zero, bringing the network to an end.
The solution this BIP proposes is to implementing a dead man's switch to Bi= tcoin addresses. The dead man's switch causes the Bitcoins assigned to dorm= ant addresses to automatically expire. A Bitcoin address is deemed dormant = if it is not used in transactions for some fixed length of time, say ten years.
The calculation of the miner's reward should take into account the Bitcoins= that has expired. This means there is a possibility that miner's reward ca= n increase if sufficient number of Bitcoins expire.

Ref:
Virus-free.
www.avast.com



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