From: Peter Todd <pete@petertodd•org>
To: Alex Lee <cloudstrife79@gmail•com>,
Bitcoin Protocol Discussion
<bitcoin-dev@lists•linuxfoundation.org>
Cc: Billy Tetrud <billy.tetrud@gmail•com>
Subject: Re: [bitcoin-dev] Bitcoin covenants are inevitable
Date: Tue, 28 Jun 2022 19:22:40 -0400 [thread overview]
Message-ID: <YruNQNKDn1octvkj@petertodd.org> (raw)
In-Reply-To: <CAPNW7nVjRgBHJritW5UECk7SiNTO+BWaHEGwKULh9o4=w=2yhw@mail.gmail.com>
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On Tue, Jun 28, 2022 at 12:23:40PM -0400, Alex Lee via bitcoin-dev wrote:
> > > Those who never transact, never realize any benefit.
> >
> > While that's true, its not relevant and basically a red herring. You need
> > to compare those who transact often and rarely hold, to those who hold a
> > lot but rarely transact. Its not helpful to consider those who throw their
> > bitcoin into a bottomless pit and never retrieve them.
> >
>
> There are legitimate uses for burning bitcoin, speaking of bottomless pits.
> I would avoid confusing velocity metrics with utility, as these aren't the
> same thing.
All the legitimate uses for burning bitcoin are _not_ done via a "bottomless
pit": they're done with transactions proving that the bitcoin has actually been
burnt. And the value obtained by burning BTC in those scenarios is affected by
tx fees and inflation just as much as any other tx.
--
https://petertodd.org 'peter'[:-1]@petertodd.org
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next prev parent reply other threads:[~2022-06-28 23:22 UTC|newest]
Thread overview: 55+ messages / expand[flat|nested] mbox.gz Atom feed top
[not found] <mailman.9.1654344003.14400.bitcoin-dev@lists.linuxfoundation.org>
2022-06-04 12:27 ` John Carvalho
2022-06-04 13:48 ` Keagan McClelland
2022-06-04 16:12 ` alicexbt
2022-06-06 13:02 ` Erik Aronesty
2022-06-12 3:36 ` Peter Todd
2022-06-12 13:02 ` Erik Aronesty
2022-06-12 16:35 ` Corey Haddad
2022-06-12 19:16 ` alicexbt
2022-06-19 10:31 ` Peter Todd
2022-06-19 15:54 ` Manuel Costa
2022-06-19 18:26 ` Kate Salazar
2022-06-19 22:35 ` Erik Aronesty
2022-06-21 19:00 ` Keagan McClelland
2022-06-21 20:10 ` Eric Voskuil
2022-06-23 19:17 ` Peter Todd
2022-06-28 3:55 ` Billy Tetrud
2022-06-28 16:23 ` Alex Lee
2022-06-28 23:22 ` Peter Todd [this message]
2022-06-29 5:02 ` Alex Lee
2022-06-28 23:20 ` Peter Todd
2022-06-29 10:44 ` Kate Salazar
2022-06-30 15:25 ` Billy Tetrud
2022-07-03 9:43 ` Peter Todd
2022-07-03 10:30 ` Giuseppe B
2022-07-06 4:28 ` Corey Haddad
2022-07-06 11:10 ` vjudeu
2022-07-07 0:46 ` Billy Tetrud
2022-07-07 12:15 ` vjudeu
2022-07-07 14:05 ` Erik Aronesty
2022-07-07 14:10 ` Giuseppe B
2022-07-08 5:03 ` Billy Tetrud
2022-06-30 17:04 ` Erik Aronesty
[not found] <mailman.9.1657195203.20624.bitcoin-dev@lists.linuxfoundation.org>
2022-07-07 13:24 ` John Carvalho
2022-07-07 14:12 ` Peter Todd
2022-07-07 16:24 ` Eric Voskuil
2022-07-07 17:37 ` Erik Aronesty
2022-07-07 19:57 ` Eric Voskuil
2022-07-07 21:11 ` Erik Aronesty
2022-07-08 0:28 ` Eric Voskuil
2022-07-08 4:59 ` vjudeu
2022-07-08 7:26 ` John Carvalho
2022-07-08 15:14 ` Erik Aronesty
2022-07-14 4:55 ` Billy Tetrud
2022-07-07 22:06 ` Anthony Towns
2022-07-07 22:02 ` Corey Haddad
2022-06-03 18:39 alicexbt
2022-06-04 0:29 ` micaroni
2022-06-04 18:43 ` Jorge Timón
2022-06-05 4:18 ` alicexbt
2022-06-08 3:51 ` Billy Tetrud
2022-06-08 9:22 ` Jorge Timón
2022-06-09 4:30 ` Billy Tetrud
2022-06-09 0:03 ` Ryan Grant
2022-07-19 4:44 ` Anthony Towns
2022-07-19 14:46 ` alicexbt
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