Thanks for the clarification. If I understand correctly, OP_CHECKSEQUENCEVERIFY can only go 65,535 blocks (about 15 months) into the future.
I still think the far future is better for this 😀. The main reason to give the burned sats to miners, and not just burn them immediately in an OP_RETURN, is to help with the security budget in the future
If the unlocking is too soon, it gives miners the incentive to cheat in the way we discussed a couple of months ago. A short lockup would allow a large mining pool to advertize "pay us 10 sats, and we'll pretend that we burned 12 sats for you". A large mining pool can do this today as there is a good chance that they will also mine the block at which the burned sats become unlocked and therefore they are "fake-burning" sats by paying themselves
I chose 12 sats and 10 sats there, based on the rough numbers that large pools control about 20% of hashrate
I still think the far future is better for this 😀. The main reason to give the burned sats to miners, and not just burn them immediately in an OP_RETURN, is to help with the security budget in the future
If the unlocking is too soon, it gives miners the incentive to cheat in the way we discussed a couple of months ago. A short lockup would allow a large mining pool to advertize "pay us 10 sats, and we'll pretend that we burned 12 sats for you". A large mining pool can do this today as there is a good chance that they will also mine the block at which the burned sats become unlocked and therefore they are "fake-burning" sats by paying themselves
I chose 12 sats and 10 sats there, based on the rough numbers that large pools control about 20% of hashrate