Hi, noob question here: Is there a long-term plan for if the block reward drops
too low to ensure the security of the network?
IIUC miners only make profit from block rewards and transaction fees, and once
the block reward drop to zero we're merely hoping that transaction fees will
keep mining exp
Hi, thanks for the replies.
> Anyway, yes, your idea is fundamentally broken because a zero block reward
> happens because creating even one more satoshi will push the amount of
> bitcoin over 21,000,, breaking the meaning of "bitcoin," or, if you
> like, creating a fundamental contradiction i
Hi,
Great to see some work in this direction, here's some thoughts on your keygen
scheme:
In the scenario where Owner1=Owner2, that is, one of the owners sends some
coins to itself, that owner would get to know both x1*s1 and
x2*s2=x2*s1*o2_inv*o1, and, because he already knows o1 and o2, that
Good morning Andrew,
>
> > Anyway, yes, your idea is fundamentally broken because a zero block reward
> > happens because creating even one more satoshi will push the amount of
> > bitcoin over 21,000,, breaking the meaning of "bitcoin," or, if you
> > like, creating a fundamental contradictio
Good morning Tom,
>
> We are starting to work on an implementation of the statechains concept
> (https://medium.com/@RubenSomsen/statechains-non-custodial-off-chain-bitcoin-transfer-1ae4845a4a39),
> with particular interest in using the protocol enable the change of
> ownership (novation) of an
Hi Pieter,
Thanks for the detailed response.
> /secret key/secret keyI'll try to summarize the discussion we had that led
> to this choice, but most of it is on
> https://github.com/sipa/bips/issues/195 if you want the details.
Ahh I can't believe I missed that github issue while searching. I
Hi all,
We are starting to work on an implementation of the statechains concept (
https://medium.com/@RubenSomsen/statechains-non-custodial-off-chain-bitcoin-transfer-1ae4845a4a39),
with particular interest in using the protocol enable the change of
ownership (novation) of an individual position i
I think the point is to use this proposed extension/standard for a
kind of "seed management" function, set it up on an offline device (an
always offline laptop, or a modified hardware wallet) where you put
the master seed. And then you use this as a kind of seed manager and
transcript the seeds fo
