From: Hunter Beast <hunter@surmount•systems>
To: Bitcoin Development Mailing List <bitcoindev@googlegroups.com>
Subject: [bitcoindev] Re: Introducing Hourglass
Date: Sat, 3 May 2025 23:00:11 -0700 (PDT) [thread overview]
Message-ID: <4f35a82a-bedb-4d4d-9de2-2dbc340b18acn@googlegroups.com> (raw)
In-Reply-To: <c4094fa8-8ec0-411c-8a67-80b8fc6282fdn@googlegroups.com>
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Trading volume is a good perspective to view this through, actually. If an
attacker decides to consolidate immediately, they could do so within just a
couple hours and suppress the Bitcoin price for a long time.
> 1.7 million Bitcoin represents possibly about 1 week of global trading
volumes. Even assuming it is 1-2 months of trading volumes, the market can
absorb.
Hourglass spreads that 1 week of trading volume over a minimum of 8 months,
possibly more.
> Trying to manage the Bitcoin price via spending restrictions is a
terrible idea.
While I generally agree with this sentence, I think P2PK coins are an
exceptional case.
> In any case, the Bitcoin price routinely drops by upwards of 85%. It is
not a security concern. Price volatility is not a security.
Price volatility absolutely impacts security, and this would be an
unprecedented event. We also haven't seen an 85% price drop in a long time.
On Saturday, May 3, 2025 at 5:55:28 AM UTC-6 Francis Pouliot wrote:
>
> Concept NACK.
>
> 1.7 million Bitcoin represents possibly about 1 week of global trading
> volumes. Even assuming it is 1-2 months of trading volumes, the market can
> absorb.
>
> Trying to manage the Bitcoin price via spending restrictions is a terrible
> idea.
>
> In any case, the Bitcoin price routinely drops by upwards of 85%. It is
> not a security concern. Price volatility is not a security.
> On Tuesday, April 29, 2025 at 5:08:16 PM UTC-6 Hunter Beast wrote:
>
>> This is a proposal to mitigate against potential mass liquidation of P2PK
>> funds. The specification is pretty simple, but the motivation and
>> justification for it is a bit longer.
>>
>> https://github.com/cryptoquick/bips/blob/hourglass/bip-hourglass.mediawiki
>>
>> Feedback welcome!
>>
>
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prev parent reply other threads:[~2025-05-04 9:12 UTC|newest]
Thread overview: 8+ messages / expand[flat|nested] mbox.gz Atom feed top
2025-04-29 22:38 [bitcoindev] " Hunter Beast
2025-04-30 3:01 ` [bitcoindev] " Michael Tidwell
2025-05-01 11:38 ` Jameson Lopp
2025-05-01 17:38 ` Nagaev Boris
2025-05-01 18:23 ` Agustin Cruz
2025-05-02 13:58 ` Saint Wenhao
2025-05-02 15:45 ` Francis Pouliot
2025-05-04 6:00 ` Hunter Beast [this message]
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