Bitcoin covenants are inevitable



Summary:

In a recent email exchange on the bitcoin-dev mailing list, Erik Aronesty emphasized that maintaining the security of the Bitcoin protocol is the responsibility of the software and core developers. However, he also noted that the continued demand for block space is critical to Bitcoin's security, as the block reward will eventually go away. He suggests that if the block reward were to continue indefinitely, which could be achieved through an inflation hard fork, the demand for block space would no longer be critical to Bitcoin's security. The discussion highlights the ongoing debate around how best to ensure the long-term security and sustainability of the Bitcoin network.


Updated on: 2023-06-15T21:28:54.429919+00:00