Re: [bitcoin-dev] Security problems with relying on transaction fees for security

> There is a smarter way. Just send 0.01 BTC per block to the timelocked outputs. Now, we have 6.25 BTC, so it means less than 0.2%. But that percentage will grow over time, as basic block reward will shrink, and we will have mandatory 0.01 BTC endlessly moved, until it will wrap. And guess what: i

Re: [bitcoin-dev] Security problems with relying on transaction fees for security

it's in line with the values of - immutable supply - enforced by the game theory of hard money and no, it's not only "rich holders"... i mine, and lots of people i know do it's certainly more decentralized than the alternatives On Thu, Jul 14, 2022 at 7:43 AM Gino Pinuto wrote: > This is

Re: [bitcoin-dev] Security problems with relying on transaction fees for security

This is not an argument in line with bitcoin values, on that scenario only rich people will be able to mine and participate to the consensus process. Like George Soros today, he use its financial reserves to monopolize ONG in order to manipulate nation states. I would not define this a "tax", moreo

Re: [bitcoin-dev] Security problems with relying on transaction fees for security

Fees and miner rewards are not needed at all for security at all since long term holders can simply invest in mining to secure the value of their stake. Isn't it enough that the protocol has a mechanism to secure value? Sure fees *might* be enough. But in the event that they are not, large holde

Re: [bitcoin-dev] Security problems with relying on transaction fees for security

> This specific approach would obviously not work as most of those outputs > would be dust and the miner would need to waste an absurd amount of block > space just to grab them, but maybe there's a smarter way to do it. There is a smarter way. Just send 0.01 BTC per block to the timelocked outpu

[bitcoin-dev] Full Disclosure: Denial of Service in STONEWALLx2 (p2p coinjoin)

Hi bitcoin-dev list members, STONEWALLx2[1] is a p2p coinjoin transaction in Samourai wallet. The miner fee is split between both participants of the transaction. == Problem == Antoine Riard shared the details of DoS attack in an [email][2] on 2

Re: [bitcoin-dev] Bitcoin covenants are inevitable

@Peter Todd > The fact of the matter is that the present amount of security is about 1.7% of the total coin supply/year That's on the order of what I calculated : ~0.5%. I'm curious