Author: Kate Salazar 2022-06-29 10:44:11
Published on: 2022-06-29T10:44:11+00:00
The bitcoin-dev mailing list is discussing the distribution of costs for bitcoin blockchain security and whether holders should contribute to these costs. Billy Tetrud argues that holders benefit from the utility of bitcoin as a store of value while those who transact often do not. He suggests that it would be technically optimal to have a balance of fees that consider both holding and spending, but there is an aversion to inflation in the community. Peter Todd suggests demurrage as a solution, but this could complicate protocols like Lightning and is not practical. Both demurrage and inflation are considered a tax on savings, with the only difference being their implementation. Pool operators can request larger fees from older utxos, all utxos, or newer utxos at their discretion, but this is not a consensus and is solved in the social layer. Decentralization hard forks are also suggested.
Updated on: 2023-06-15T21:27:31.153701+00:00