Author: Luke Dashjr 2019-04-01 00:30:34
Published on: 2019-04-01T00:30:34+00:00
Luke Dashjr has proposed two Bitcoin Improvement Proposals (BIPs) to solve the problem of certain parts of the community selling bitcoins for unreasonably low prices, which has halted Bitcoin's valuation at $20k and driven the price down below $15k. The first BIP proposes a method to explicitly specify and sign the USD/BTC price for transactions by adding a new field to Bitcoin transactions that represents the honest and true USD/BTC rate used for the transaction. This is done by signing the transaction, and the sender legally affirms this as the valuation of bitcoins used for the transaction. The second BIP softforks a minimum price of $50k USD/BTC for Bitcoin transactions and requires that all transactions declare a USD/BTC price and specify a price that is at a minimum $50k USD/BTC. This soft fork begins with block height 622370, expected in approximately April 2020. Both BIPs are licensed under the BSD 2-clause license, and reference implementations are available on GitHub.
Updated on: 2023-05-20T20:09:45.389730+00:00