[Bitcoin-development] Finite monetary supply for Bitcoin

Pieter Wuille pieter.wuille at gmail.com
Tue Apr 1 20:53:37 UTC 2014


On Tue, Apr 1, 2014 at 10:00 PM, Peter Todd <pete at petertodd.org> wrote:
> On Tue, Apr 01, 2014 at 09:00:07PM +0200, Pieter Wuille wrote:
>> The text can be found here: https://gist.github.com/sipa/9920696
>
> What's interesting about this bug is we could also fix the problem - the
> economic shock - by first implementing the OP_CHECKLOCKTIMEVERIFY opcode
> in a soft-fork, followed by a second soft-fork requiring miners to
> "pay-forward" a percentage of their coinbase outputs to the future.
> (remember that whomever mines a block controls what
> recently-made-available anyone-can-spend txouts are included in their
> block) We could then pick the distribution rate fairly arbitrarily; I
> propose the following linear distribution:

Interesting idea, but perhaps we can keep that change for a future
hard fork, as Matt suggested? That means it could be implemented much
more concisely too.

Mike, I'm sad to hear you feel that way. I'll move your name in the
document from ACKnowledgements to NAKnowledgements.

As this is a relatively urgent matter - we risk forks within 250 years
otherwise, I'd like to move this forward quickly.

In case there are no further objections (excluding from people who
disagree with me), I'd like to request a BIP number for this. Any
number is fine, I guess, as long as it's finite.

-- 
Pieter




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