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.<br /><br />&gt; 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.<br /><br />Hourglass spreads that 1 week of trading volume over a minimum of 8 months, possibly more.<br /><br />&gt; Trying to manage the Bitcoin price via spending restrictions is a terrible idea.<br /><br />While I generally agree with this sentence, I think P2PK coins are an exceptional case.<br /><br />&gt; In any case, the Bitcoin price routinely drops by upwards of 85%. It is not a security concern. Price volatility is not a security.<br /><br />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.<br /><br /><div class="gmail_quote"><div dir="auto" class="gmail_attr">On Saturday, May 3, 2025 at 5:55:28 AM UTC-6 Francis Pouliot wrote:<br/></div><blockquote class="gmail_quote" style="margin: 0 0 0 0.8ex; border-left: 1px solid rgb(204, 204, 204); padding-left: 1ex;"><br>Concept NACK.<br><br>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.<br><br>Trying to manage the Bitcoin price via spending restrictions is a terrible idea.<br><br>In any case, the Bitcoin price routinely drops by upwards of 85%. It is not a security concern. Price volatility is not a security. <br><div class="gmail_quote"><div dir="auto" class="gmail_attr">On Tuesday, April 29, 2025 at 5:08:16 PM UTC-6 Hunter Beast wrote:<br></div><blockquote class="gmail_quote" style="margin:0 0 0 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex">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.<div><br></div><div><a aria-label="Link https://github.com/cryptoquick/bips/blob/hourglass/bip-hourglass.mediawiki" href="https://github.com/cryptoquick/bips/blob/hourglass/bip-hourglass.mediawiki" rel="noreferrer noopener nofollow" title="https://github.com/cryptoquick/bips/blob/hourglass/bip-hourglass.mediawiki" target="_blank" data-saferedirecturl="https://www.google.com/url?hl=en&amp;q=https://github.com/cryptoquick/bips/blob/hourglass/bip-hourglass.mediawiki&amp;source=gmail&amp;ust=1746424761745000&amp;usg=AOvVaw0_Aiwt7AiDprGaKfPHJkIF">https://github.com/cryptoquick/bips/blob/hourglass/bip-hourglass.mediawiki</a></div><div><br></div><div>Feedback welcome!</div></blockquote></div></blockquote></div>

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