Can somebody help me understand what Michael Dunworth is describing?
Sharing a private key? Pushing bitcoin into the future? Having it available to miners in 100 years?
I get the basic idea, but ...
It might be a variation on an idea I’ve thought about myself. Goes something like this:
Spend a small amount of BTC automatically to an “anyone-can-spend” address with a timelock for 50 years worth of blocks from now. Do like $1 worth every on-chain transaction. Then it will get unlocked at that block height, and any miners can then scoop it up for themselves like a fee. If Bitcoin does 1000x in purchasing power over 50 years, then that $1 will be the equivalent of $1000 in today’s money in fees for future miners.
——
No idea if that’s what he is talking about, but it sounds similar the way you described it.
(If you have a link to where this was explained I could look into it)
Spend a small amount of BTC automatically to an “anyone-can-spend” address with a timelock for 50 years worth of blocks from now. Do like $1 worth every on-chain transaction. Then it will get unlocked at that block height, and any miners can then scoop it up for themselves like a fee. If Bitcoin does 1000x in purchasing power over 50 years, then that $1 will be the equivalent of $1000 in today’s money in fees for future miners.
——
No idea if that’s what he is talking about, but it sounds similar the way you described it.
(If you have a link to where this was explained I could look into it)
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