Luke Dashjr on nostr

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@Luke Dashjr 1789031385

Mined bitcoins are unspendable for their first 100 blocks. There has been proposals to either delay spending them for 4375 blocks (~a month), or to zero the block subsidy for a month (so miners only get paid fees and nothing more).

The motive here is to deter a large batch of hashers who appear to only have profit as their motive, and are attacking Bitcoin's decentralization in the process.

No decisions are final, but you should join the discussion if you have an opinion:

https://discord.gg/Dkr5eRGxU

3610❤️16👍3🤙2:NICE:1⚡1👀1

Maybe you and your whole family will visit me in Poland and we talk about situation in Bitcoin?

charliesurf is rekt · 6d

i think a better dynamic would be to make all rewards unspendable until the next difficulty adjustment... if you zero the block subsidy you will crash the hashrate and the network will be stuck until the subsidy comes back or the PoW algo changes again...

Alex Petrov · 6d

Changing the block reward maturity rules or subsidy schedule seems like a blunt fix. It could push miners toward profit-driven chains with no such restrictions, making decentralization worse. Reminds me of ETF flow dynamics in that article—when incentives misalign, capital flees fast. https://t...

Aaron van Wirdum · 6d

SatsbytheSea · 6d

What’s a better motive than profit?

SwapMarket · 6d

stop wasting our time

Blockhead · 6d

4375 blocks (~a month) I like that. 👍

Wonteet Zebugs · 6d

I'll be happy to mine at a loss if we can weed out the bad actors. But if we zero the susbsidy just for one month, won't they just come back after that month? These blake2b miners have probably already been just sitting on shelves for years. One month probably won't make much difference. I prefer ...

slippery slope potentially

Why are you going even proposing things like this? You can’t stop anyone from doing this… This is getting out of hand Luke… I think you need to seriously re think what you are doing… Hope all is well have a great day.

Is there a free software alternative to join the discussion?

The proposal makes sense, if you are afraid of a dump. Why not just let it dump, though? Those "correction proposals" are looking at things from a very short term point of view. It makes more sense to let the difficulty adjustment to its thing and let the dumpers dump, in the long term, the market w...

Reminds me of Corner Boi

Bear Trap Brain · 6d

Holy shit Bcash Jr is already becoming a shit coin 🤣

Technical Debt · 6d

Discord? Really?

curt finch · 5d

That's really not going to solve anything.

Francisco d Anconia · 5d

IMHO this is lost since the day of the split, and I hate to say that your egos are making things worse. Don’t get me wrong, I was happy running Knots, as I believe it was a powerful signal towards Core to stop the craziness uncapping limits to spam the network and reducing node runners’ abilit...

Jack Spirko · 5d

Have you started huffing glue or spray paint out of a sock?

Just let it be is the best imo

...that is one of the problems of bitcoin mining? thanks to the fact that high-power miners allow blocks to be mined in a matter of minutes, this encourages there to always be companies or groups that want to monopolize the entire industry. if the rewards are no longer made as frequent as they curr...

LeviJohnson.net · 5d

Either of these proposals would fix nothing and make the situation worse.

I would take this as proof that the smartest person can have idiotic thoughts. Greed is a fundamental incentive structure of bitcoin. A feature not a bug to fix!

Harambe's Last Bitcoin · 4d

Well this make this the Most radical shitcoin Bitcoin fork in our history. First switching mining to a pre existing asic built POW and now changing rewards for proof of work? lol proof of work? Change change change it actually don’t work. So change!