Subject: Re: [bitcoindev] HODL Tax Proposal

From: Keagan McClelland <[email-masked]>
Date: Thu, 1 Aug 2024 17:28:11 -0700

Hypothetically miners could attempt to adopt a mining/relay policy wherein
they consider the age of the utxo being spent and factor that into the
feerate they consider when accepting the transaction into their block
template. However this would be an opt-in mechanism and miners can choose
to not take this into consideration when making the choice to mine the
transaction or not. If enough hashpower adopted this policy, you could end
up with a de-facto demurrage tax. This also means that you can do this
without a consensus fork if there was appetite for it.

However, I suspect there will be extreme resistance to this proposal and it
is unlikely that miners would intentionally leave otherwise-good fees on
the table simply because they want to play prisoners dilemma games where
they lose fees to the competition.

Keags

On Thu, Aug 1, 2024 at 5:18 PM José Edil Guimarães de Medeiros <
[email-masked]> wrote:

> Not sure if I should consider this a joke after the president of bitcoin
> thing, but I just got curious about a basic technical detail and wanted to
> stress the concept.
>
> Since the value "tokens" in Bitcoin are the utxos, outputs from
> transactions that have not been spent in another transaction, and since the
> sole purpose of the utxos are to atomically serve as input to a subsequent
> transaction, how do you proposed to "tax" them?
>
> I mean, let's say someone sent me 1 BTC to address X by building a simple
> p2pkh transaction with the address I provided. To move that 1 BTC mean to
> authorize it as an input to a new transaction. In principle, that can only
> be done by me producing a valid signature using a private key.
>
> Let's say I'm one of those infamous holders. How do you propose the tax to
> be implemented?
>
> All the best.
> --
> E...
>
> On 1 Aug 2024, at 18:13, Richard Greaser <[email-masked]>
> wrote:
>
> Hi everyone,
>
> It has become apparent to me that there is an issue where users of the
> network holding their coins, are not adding value to the network.
>
> As miners continue to get squeezed post halving, they would benefit
> tremendously from fees being taken from individuals refusing to move their
> coins, providing increased security to the network.
>
> I have written out a proposal more in depth and is attached below.
>
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> .
> <hodltax.md>
>
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>

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