1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
|
Received: from sog-mx-2.v43.ch3.sourceforge.com ([172.29.43.192]
helo=mx.sourceforge.net)
by sfs-ml-3.v29.ch3.sourceforge.com with esmtp (Exim 4.76)
(envelope-from <andyparkins@gmail.com>) id 1TfpDE-0004em-PX
for bitcoin-development@lists.sourceforge.net;
Tue, 04 Dec 2012 09:54:48 +0000
Received-SPF: pass (sog-mx-2.v43.ch3.sourceforge.com: domain of gmail.com
designates 209.85.212.171 as permitted sender)
client-ip=209.85.212.171; envelope-from=andyparkins@gmail.com;
helo=mail-wi0-f171.google.com;
Received: from mail-wi0-f171.google.com ([209.85.212.171])
by sog-mx-2.v43.ch3.sourceforge.com with esmtps (TLSv1:RC4-SHA:128)
(Exim 4.76) id 1TfpDE-0007qc-2n
for bitcoin-development@lists.sourceforge.net;
Tue, 04 Dec 2012 09:54:48 +0000
Received: by mail-wi0-f171.google.com with SMTP id hn14so458671wib.10
for <bitcoin-development@lists.sourceforge.net>;
Tue, 04 Dec 2012 01:54:42 -0800 (PST)
Received: by 10.216.207.139 with SMTP id n11mr4662752weo.211.1354614882020;
Tue, 04 Dec 2012 01:54:42 -0800 (PST)
Received: from momentum.localnet ([91.84.15.31])
by mx.google.com with ESMTPS id bd7sm1100266wib.8.2012.12.04.01.54.40
(version=TLSv1/SSLv3 cipher=OTHER);
Tue, 04 Dec 2012 01:54:40 -0800 (PST)
From: Andy Parkins <andyparkins@gmail.com>
To: bitcoin-development@lists.sourceforge.net
Date: Tue, 4 Dec 2012 09:54:38 +0000
User-Agent: KMail/1.13.7 (Linux/3.2.0-3-686-pae; KDE/4.8.4; i686; ; )
References: <80648682-E34A-455E-B34A-6BC24652C3EA@ceptacle.com>
In-Reply-To: <80648682-E34A-455E-B34A-6BC24652C3EA@ceptacle.com>
MIME-Version: 1.0
Content-Type: Text/Plain;
charset="iso-8859-1"
Content-Transfer-Encoding: 7bit
Message-Id: <201212040954.38926.andyparkins@gmail.com>
X-Spam-Score: -1.6 (-)
X-Spam-Report: Spam Filtering performed by mx.sourceforge.net.
See http://spamassassin.org/tag/ for more details.
-1.5 SPF_CHECK_PASS SPF reports sender host as permitted sender for
sender-domain
0.0 FREEMAIL_FROM Sender email is commonly abused enduser mail provider
(andyparkins[at]gmail.com)
-0.0 SPF_PASS SPF: sender matches SPF record
-0.1 DKIM_VALID_AU Message has a valid DKIM or DK signature from
author's domain
0.1 DKIM_SIGNED Message has a DKIM or DK signature,
not necessarily valid
-0.1 DKIM_VALID Message has at least one valid DKIM or DK signature
X-Headers-End: 1TfpDE-0007qc-2n
Cc: Michael Gronager <gronager@ceptacle.com>
Subject: Re: [Bitcoin-development] Chain dust mitigation: Demurrage based
Chain Vacuuming
X-BeenThere: bitcoin-development@lists.sourceforge.net
X-Mailman-Version: 2.1.9
Precedence: list
List-Id: <bitcoin-development.lists.sourceforge.net>
List-Unsubscribe: <https://lists.sourceforge.net/lists/listinfo/bitcoin-development>,
<mailto:bitcoin-development-request@lists.sourceforge.net?subject=unsubscribe>
List-Archive: <http://sourceforge.net/mailarchive/forum.php?forum_name=bitcoin-development>
List-Post: <mailto:bitcoin-development@lists.sourceforge.net>
List-Help: <mailto:bitcoin-development-request@lists.sourceforge.net?subject=help>
List-Subscribe: <https://lists.sourceforge.net/lists/listinfo/bitcoin-development>,
<mailto:bitcoin-development-request@lists.sourceforge.net?subject=subscribe>
X-List-Received-Date: Tue, 04 Dec 2012 09:54:48 -0000
On Monday 03 December 2012 11:19:37 Michael Gronager wrote:
> The aged coins are simply included in the block mining reward, creating
> another incentive for miners. Further, if we include all coins in this
> recycle scheme coins will never be lost forever.
Ignoring the cost of storing these never-spent outputs; there is absolutely no
reason we need to ensure that coins aren't lost. Nor worry about those that
are.
The total bitcoins produced is an entirely arbitrary number -- a function of
the 210,000 halving rate and the initial block reward. Satoshi could have
picked anything for them and bitcoin would work exactly the same.
Lost coins never enter the economy ever again, and so supply is slightly lower
than it would have been, making all the non-lost coins worth ever so slightly
more. Effectively: price adjustments will take care of lost coins.
Andy
--
Dr Andy Parkins
andyparkins@gmail.com
|