Unfortunately, the current form of Testnet is doomed to have value, just like BTC. Its scarcity makes it a valuable asset. And no reset will change that. It will only result in repeated resets, multiple versions of testnet, and people never learning.

When I imagine what I would have to go through to mine testnet BTC, how much time and money to invest (buying/renting ASIC - CPU mining is a thing of the past), and someone offered me a simpler alternative, to just buy it, I probably wouldn't hesitate and would just buy it. Many people HODL testnet coins precisely because it's difficult to obtain them and they don't want to give them up, regardless of their economic value. People have learned, CRYPTO = HODL.

In my opinion, it's more important to address the issue so that testnet doesn't need to be reset. Because it angers people, even those who aren't responsible and want to use it as intended. I'm afraid that after the reset, mining will be very difficult, expensive, and impossible for most people. Not everyone has an ASIC at home, and CPU mining is out of the question. And faucets won't work. I'm also afraid that whales will emerge who will mine it from the beginning while the reward is high, for worse times.

I have a faucet myself and I know how my users behave, they always want more, and most people HODL it. Only a negligible amount comes back to my faucet. So, the idea of freely sharing is nice but unrealistic.

A reset of testnet that will be "the same" as the old one doesn't make sense to me. Wouldn't it be possible to pre-mine all the coins and distribute them via faucet? Or generate more than 21M? If there are a large number of them, there will be enough for everyone and they will be worthless.


Dátum: streda 3. apríla 2024, čas: 8:41:41 UTC+2, odosielateľ: Anthony Towns
On Mon, Apr 01, 2024 at 01:37:59PM +0000, Pieter Wuille wrote:
> I think there is an easier alternative to changing the supply rule: the intention to reset it again when its subsidy drops too low. That may even also counteract the development of a non-zero market price for the coins.

We could put some weight behind this by committing to resetting testnet
in advance: eg, add a rule that says "blocks are invalid after height X"
or "after mediantime exceeds Y".

Cheers,
aj

--
You received this message because you are subscribed to the Google Groups "Bitcoin Development Mailing List" group.
To unsubscribe from this group and stop receiving emails from it, send an email to bitcoindev+unsubscribe@googlegroups.com.
To view this discussion on the web visit https://groups.google.com/d/msgid/bitcoindev/7a67edd1-0182-4170-90f4-998d12431024n%40googlegroups.com.