From: Mark Friedenbach <mark@monetize•io>
To: Benjamin Lindner <ben@benlabs•net>
Cc: Bitcoin Dev <bitcoin-development@lists•sourceforge.net>
Subject: Re: [Bitcoin-development] Blocking uneconomical UTXO creation
Date: Mon, 11 Mar 2013 11:59:14 -0700 [thread overview]
Message-ID: <CACh7GpHnAc8JBce4uvtU9Qw+1Th9R9_6ySc83ZEBGC-tX+y_9A@mail.gmail.com> (raw)
In-Reply-To: <75F78378-7580-4D69-A5EA-E943AF7CEB0C@benlabs.net>
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On Mon, Mar 11, 2013 at 11:17 AM, Benjamin Lindner <ben@benlabs•net> wrote:
> > Just activate a non-proportional
> > demurrage (well, I won't complain if you just turn bitcoin into
> > freicoin, just think that non-proportional would be more acceptable by
> > most bitcoiners) that incentives old transactions to be moved
>
> You could delegate the decision to the user with a rule like:
>
> if (output<fee):
> limit lifetime of the UTXO to 10 years.
> if (output>fee):
> unlimited lifetime
>
> Then, when a user creates a transaction, he can decide whether he wants to
> have limited or unlimited lifetime. The rationale for limiting the lifetime
> for (output<fee) transactions is that they may have no inherent economic
> incentive to be spend.
>
If you think demurrage has a bad rep, wait until you see the response to
escheatment (which is what's really being proposed here).
UTXO growth over time is worst-case linear, while computational resources
increase exponentially. Mike nailed it on the head: all of this is a
solution in search of a problem.
Mark
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next prev parent reply other threads:[~2013-03-11 19:30 UTC|newest]
Thread overview: 23+ messages / expand[flat|nested] mbox.gz Atom feed top
2013-03-10 4:31 Peter Todd
2013-03-11 11:01 ` Jorge Timón
2013-03-11 15:36 ` Gavin Andresen
2013-03-11 16:45 ` Jorge Timón
2013-03-11 16:46 ` Jorge Timón
2013-03-11 16:54 ` Mike Hearn
2013-03-11 17:08 ` Jorge Timón
2013-03-11 18:17 ` Benjamin Lindner
2013-03-11 18:59 ` Mark Friedenbach [this message]
2013-03-11 18:59 ` Jorge Timón
2013-03-11 19:08 ` Tadas Varanavičius
2013-03-11 22:19 ` Mike Hearn
2013-03-11 22:25 ` Tadas Varanavičius
2013-03-11 22:39 ` Mike Hearn
2013-03-11 23:26 ` Tadas Varanavičius
2013-03-11 17:18 ` Jeff Garzik
2013-03-11 20:08 ` Rune Kjær Svendsen
2013-03-11 20:36 ` Michael Gronager
2013-03-11 21:01 ` Gregory Maxwell
2013-03-11 21:15 ` Michael Gronager
2013-03-12 7:49 ` Peter Todd
2013-03-13 5:31 ` Stephen Pair
2013-03-13 9:20 ` Jorge Timón
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