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authorjk_14 <jk_14@op.pl>2023-05-12 11:36:57 +0200
committerbitcoindev <bitcoindev@gnusha.org>2023-05-12 09:37:09 +0000
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parent5b65e40089d698792e47b9919f1dac1849d6a05b (diff)
downloadpi-bitcoindev-3ac61c7031df3d691e67fa377c6cca1e34cde8d8.tar.gz
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Re: [bitcoin-dev] [Mempool spam] Should we as developers reject non-standard Taproot transactions from full nodes?
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+To: Keagan McClelland <keagan.mcclelland@gmail.com>,
+ Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>
+Date: Fri, 12 May 2023 11:36:57 +0200
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+Subject: Re: [bitcoin-dev] [Mempool spam] Should we as developers reject
+ non-standard Taproot transactions from full nodes?
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+
+W dniu 2023-05-11 13:57:11 u=C5=BCytkownik Keagan McClelland via bitcoin-de=
+v <bitcoin-dev@lists.linuxfoundation.org> napisa=C5=82:
+
+> The current fees we are experiencing are still significantly lower than t=
+hey need to be if Bitcoin is going to survive in a post-subsidy era. If our=
+ layered protocols can't survive the current fee environment, the answer is=
+ to fix the layered protocols.
+
+
+I also believe that this discussion should be expanded to the problem of Bi=
+tcoin's survival in the post-subsidy era, because it's very related, i.e. a=
+lso directly related to the high transaction fees. The only difference is t=
+hat the current $30 fee situation is probably temporary, and the future $40=
+ (today's price tag) fee situation in post-subsidy era will be hopeless for=
+ change other than to reduce the difficulty of the network and hence its se=
+curity and the marketcap/price in the end of day.
+
+Because if the current network hashrate (current level of security) would d=
+rop e.g. to half of what it was in the past - the Store-of-Value feature si=
+mply collapse, while it's one of the most important (if not: the most impor=
+tant) long term feature of Bitcoin and as such advertised...
+If you really care about SoV - you can't accept network security regression=
+. Period.
+
+I am a committed supporter of the free market. And Bitcoin is not the e-mai=
+l system, where sending is free and therefore spam which costs nothing to t=
+he sender - becomes a problem. In Bitcoin, every transaction costs - and in=
+ such a situation, distinguishing paid transactions into the good ones and =
+the bad ones - would be a mistake and contradict the idea of the free marke=
+t.
+
+We should not interfere where the free market intervenes: the same way how =
+small transfers are migrating to LN, the same way "non-economic", low value=
+ informations will migrate to Layer2 (RGB, Taro or maybe something else yet)
+
+But, we should intervene there, where there is no free market. And I am not=
+ alone in alarming that there is such a place in Bitcoin.
+In the post-subsidy era There Is No Free Market between: active users (over=
+taxed) and pasive users (free riders).
+
+One of possible (very conservative) option to introduce free market there -=
+ is to delay halving in case of 4 years network difficulty regression situa=
+tion.
+Such a long-term regression of network difficulty means nothing else that t=
+ransaction revenue from active users is not able to fund current network se=
+curity anymore for both active and passive users. Delaying of halving is si=
+mply: not introducing additional more damage to the network security (reall=
+y conservative approach)
+Another option is: demurrage (but I'm not very sure it will work fine, at l=
+east before "hyperbitcoinzation")
+
+Again, from my almost 50yo experience:
+Bitcoin network difficulty can be more-less constant or can be slightly inc=
+reasing (both options are "good for Bitcoin") but we should do our best - t=
+o avoid the network security regression.
+I did.
+
+
+Regards
+Jaroslaw
+
+_______________________________________________
+bitcoin-dev mailing list
+bitcoin-dev@lists.linuxfoundation.org
+https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
+
+