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From: Erik Aronesty <erik@q32.com>
Date: Sun, 19 Jun 2022 18:35:55 -0400
Message-ID: <CAJowKgL=nVwnUrpSKmnsTxOfk3DEEZL7awG=HypyCXSR3XCLxg@mail.gmail.com>
To: Manuel Costa <manecosta@gmail.com>,
Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>
Content-Type: multipart/alternative; boundary="00000000000002c1a305e1d49dca"
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Subject: Re: [bitcoin-dev] Bitcoin covenants are inevitable
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--00000000000002c1a305e1d49dca
Content-Type: text/plain; charset="UTF-8"
On Sun, Jun 19, 2022 at 2:04 PM Manuel Costa via bitcoin-dev <
bitcoin-dev@lists.linuxfoundation.org> wrote:
> if we start seeing issues with block rewards being too low to maintain
> acceptable security, we're going to have multiple solutions being
> implemented for it, and definitely a hard fork to indefinitely maintain
> some degree of block subsidy
>
if we failed to first try increasing block demand with advanced transaction
support, it would seem like we were just throwing money and growth away to
support one narrative (simplicty of function), while destroying another
(finite supply)
if stuff like covenant support and mweb gets us higher fees, with stuff
like on-chain mixing protocols, vaults, and higher utility, it might be
more than enough to sustain bitcoin on fees alone forever
--00000000000002c1a305e1d49dca
Content-Type: text/html; charset="UTF-8"
Content-Transfer-Encoding: quoted-printable
<div dir=3D"ltr"><div dir=3D"ltr"><br></div><br><div class=3D"gmail_quote">=
<div dir=3D"ltr" class=3D"gmail_attr">On Sun, Jun 19, 2022 at 2:04 PM Manue=
l Costa via bitcoin-dev <<a href=3D"mailto:bitcoin-dev@lists.linuxfounda=
tion.org">bitcoin-dev@lists.linuxfoundation.org</a>> wrote:<br></div><bl=
ockquote class=3D"gmail_quote" style=3D"margin:0px 0px 0px 0.8ex;border-lef=
t:1px solid rgb(204,204,204);padding-left:1ex"><div dir=3D"ltr"><div>=C2=A0=
if we start seeing issues with block rewards being too low to maintain acce=
ptable security, we're going to have multiple solutions being implement=
ed for it, and definitely a hard fork to indefinitely maintain some degree =
of block subsidy</div></div></blockquote><div><br></div><div>if we failed t=
o first try increasing block demand with advanced transaction support, it w=
ould seem like we were just throwing money and growth away to support one n=
arrative (simplicty=C2=A0of function), while destroying another (finite sup=
ply)=C2=A0</div><div><br></div><div>if stuff like covenant support and mweb=
gets us higher fees, with=C2=A0stuff like on-chain mixing protocols, vault=
s, and higher utility, it might be more than enough to sustain bitcoin on f=
ees alone forever</div><div>=C2=A0</div></div></div>
--00000000000002c1a305e1d49dca--
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