On Mon, Mar 11, 2013 at 12:01 PM, Jorge Timón <jtimonmv@gmail.com> wrote:

On 3/10/13, Peter Todd <pete@petertodd.org> wrote:
> It's also been suggested multiple times to make transaction outputs with
> a value less than the transaction fee non-standard, either with a fixed
> constant or by some sort of measurement.

As said on the bitcointalk thread, I think this is the wrong approach.
This way you effectively disable legitimate use cases for payments
that "are worth" less than the fees like smart property/colored coins.
While the transactions pay fees, they should not be considered spam
regardless of how little the quantities being moved are.

Then your only concern are unspent outputs and comparing fees with
values doesn't help in any way.

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 and
destroys unspent transactions with small amounts that don't move to
another address periodically. This has been proposed many times before
too, and I think it makes a lot more sense.

From an economic point of view this *does* make sense, in my opinion. Storing an unspent transaction in the block chain costs money because we can't prune it. However, it would completely destroy confidence in Bitcoin, as far as I can see. It makes sense economically, but it isn't feasible if we want to maintain people's confidence in Bitcoin.

I like Jeff's proposal of letting an alt-coin implement this. If it gets to the point where Bitcoin can't function without this functionality, it'll be a lot easier to make the transition, instead of now, when it's not really needed, and the trust in Bitcoin really isn't that great.

/Rune

------------------------------------------------------------------------------
Symantec Endpoint Protection 12 positioned as A LEADER in The Forrester
Wave(TM): Endpoint Security, Q1 2013 and "remains a good choice" in the
endpoint security space. For insight on selecting the right partner to
tackle endpoint security challenges, access the full report.
http://p.sf.net/sfu/symantec-dev2dev
_______________________________________________
Bitcoin-development mailing list
Bitcoin-development@lists.sourceforge.net
https://lists.sourceforge.net/lists/listinfo/bitcoin-development