Author: Thomas Voegtlin 2015-05-13 09:49:13
Published on: 2015-05-13T09:49:13+00:00
In a conversation between Gavin Andresen and an unknown individual, Andresen suggests writing up four plausible scenarios for how mining incentives might work in the future. The scenarios include fee-supported with large blocks of tiny-fee transactions, proof-of-idle supported, fees purely as transaction-spam-prevention measure, and fee-supported with small blocks containing high-fee transactions moving coins to/from sidechains. However, the individual responds by asking for a reference scenario that is as boring and verifiable as possible without involving exotic and unproven technologies. They want to know if Bitcoin can work in the long run without involving technologies that have not been invented yet. They do not want predictions about what is likely to happen, but what is most likely to work given the knowledge available today. The individual notes that there seems to be no consensus among core developers on how Bitcoin can work without miner subsidy.
Updated on: 2023-06-09T20:43:19.226347+00:00