From: Erik Aronesty <erik@q32•com>
To: Tom Harding <tomh@thinlink•com>,
Bitcoin Protocol Discussion
<bitcoin-dev@lists•linuxfoundation.org>
Subject: Re: [bitcoin-dev] Security problems with relying on transaction fees for security
Date: Wed, 13 Jul 2022 08:18:43 -0400 [thread overview]
Message-ID: <CAJowKgK2dgs+0edq4aN-dK9qeGAWBhUcgH_Hu=_H+yx8LBHoVw@mail.gmail.com> (raw)
In-Reply-To: <6617a48d-15b9-699c-42f3-35b32245102e@thinlink.com>
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Bitcoin doesn't rely on fees. It relys on users protecting the network out
of self interest
- running nodes now
- mining later
It has always been incentivised by holders acting out of self interest
If large holders allocating a small percentage to mining to protect their
interest, that's all Bitcoin needs
Although I can think of other protocols that work that way and people don't
like them
On Wed, Jul 13, 2022, 4:06 AM Tom Harding via bitcoin-dev <
bitcoin-dev@lists•linuxfoundation.org> wrote:
> On 7/11/22 15:26, Peter Todd via bitcoin-dev wrote:
> >
> > Anyway, designing protocols for "price go up forever" hopium is a bad
> idea.
>
> Yet that is the design, and it's a good one. It is equivalent to
> relying on bitcoin to steadily grow in utility vs. fiat currencies.
>
> If it fails to do that, there's no point anyway.
>
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev@lists•linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>
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next prev parent reply other threads:[~2022-07-13 12:19 UTC|newest]
Thread overview: 35+ messages / expand[flat|nested] mbox.gz Atom feed top
2022-07-11 18:12 Bram Cohen
2022-07-11 18:38 ` micaroni
2022-07-11 18:43 ` Erik Aronesty
2022-07-11 19:45 ` vjudeu
2022-07-11 20:35 ` Russell O'Connor
2022-07-11 20:52 ` Erik Aronesty
2022-07-11 21:36 ` Peter Todd
2022-07-11 21:56 ` Peter Todd
2022-07-12 0:21 ` Russell O'Connor
2022-07-12 0:37 ` Peter Todd
2022-07-14 0:54 ` Anthony Towns
2022-07-11 21:18 ` Pox
2022-07-11 21:53 ` Peter Todd
2022-07-12 2:47 ` Bram Cohen
2022-07-11 22:19 ` James MacWhyte
2022-07-11 22:26 ` Peter Todd
2022-07-12 0:01 ` James MacWhyte
2022-07-12 0:31 ` Peter Todd
2022-07-13 0:38 ` Tom Harding
2022-07-13 12:18 ` Erik Aronesty [this message]
2022-07-11 23:29 ` Anthony Towns
2022-07-12 3:56 Peter
2022-07-12 11:57 ` Erik Aronesty
2022-07-12 15:08 ` Peter
2022-07-12 17:46 ` Ryan Grant
[not found] <mailman.82083.1657699581.8511.bitcoin-dev@lists.linuxfoundation.org>
2022-07-13 9:43 ` John Tromp
2022-07-13 11:56 ` John Tromp
2022-07-13 12:11 ` Gino Pinuto
2022-07-13 13:29 ` Manuel Costa
2022-07-14 9:33 ` vjudeu
2022-07-14 9:57 ` Erik Aronesty
2022-07-14 11:42 ` Gino Pinuto
2022-07-14 16:01 ` Erik Aronesty
2022-07-14 16:27 ` Manuel Costa
2022-07-15 6:03 ` vjudeu
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