Erik Aronesty [ARCHIVE] on Nostr: 📅 Original date posted:2022-07-13 📝 Original message:Bitcoin doesn't rely on ...

📅 Original date posted:2022-07-13
📝 Original message:Bitcoin doesn't rely on fees. It relys on users protecting the network out
of self interest

- running nodes now
- mining later

It has always been incentivised by holders acting out of self interest

If large holders allocating a small percentage to mining to protect their
interest, that's all Bitcoin needs

Although I can think of other protocols that work that way and people don't
like them







On Wed, Jul 13, 2022, 4:06 AM Tom Harding via bitcoin-dev <
bitcoin-dev at lists.linuxfoundation.org> wrote:

> On 7/11/22 15:26, Peter Todd via bitcoin-dev wrote:
> >
> > Anyway, designing protocols for "price go up forever" hopium is a bad
> idea.
>
> Yet that is the design, and it's a good one. It is equivalent to
> relying on bitcoin to steadily grow in utility vs. fiat currencies.
>
> If it fails to do that, there's no point anyway.
>
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> bitcoin-dev at lists.linuxfoundation.org
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