Author: Tamas Blummer 2019-07-04 17:10:31
Published on: 2019-07-04T17:10:31+00:00
In an email exchange between Tamas Blummer and Eric Voskuil, they discussed different ways to impose costs on use without direct billing. These methods include burning Bitcoins to use the service, paying high fees in self-dealing transactions, time-locking own Bitcoins, paying someone else to time-lock, and transferable borrowed Bitcoin. Eric Voskuil also discussed how a community using this as hashcash spam protection can raise the amount of encumbered coin required for advertising threshold price. The cost of this encumbrance includes at least one transaction fee and market cost of the coin rental. They also discussed the concept of "renting a UTXO of substantial value" and its viability as a use case. However, Eric Voskuil was not fully supportive of generalized covenants as the use-case is already possible on current Bitcoin. ZmnSCPxj presented another use case that included a "Bitcoin Classified Ads Network" where advertisements are backed by an unspent TXO. Nodes of this network will preferentially keep advertisements that are backed by higher UTXO values divided by advertisement size, and drop those with too low UTXO value divided by advertisement size.
Updated on: 2023-06-13T19:46:29.728414+00:00