Subject: Re: [bitcoin-dev] Security problems with relying on transaction fees for security

From: Erik Aronesty <[email-masked]>
Date: Wed, 13 Jul 2022 08:18:43 -0400

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 <
[email-masked]> 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
> [email-masked]
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>