[Bitcoin-development] Coinbase reallocation to discourage Finney attacks

[Justus Ranvier]

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

On 04/24/2014 03:37 PM, Jorge Timón wrote:


The 21 million bitcoin limit is not important because of its exact
value, nor is it important because Satoshi picked it.

The 21 million limit is important because users hold bitcoin based on
the promise that the block reward will never be adjusted ex post
facto. The behavior users are relying on is "The bitcoins you hold are
forever a calculable fraction of all the bitcoins that will ever be
issued."

That's what bitcoin holders agreed to, and that's what can never be
changed.

The fact that the number is arbitrary is not relevant. We can agree to
meet for lunch at some arbitrarily chosen time, and the fact that the
time was chosen arbitrary in no way means that one party arbitrarily
choosing not to show up doesn't break the agreement.

- -- 
Support online privacy by using email encryption whenever possible.
Learn how here: http://www.youtube.com/watch?v=bakOKJFtB-k
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v2.0.22 (GNU/Linux)
Comment: Using GnuPG with Thunderbird - http://www.enigmail.net/

iQEcBAEBAgAGBQJTWUTWAAoJECoisBQbQ4v0JiwIALQtf4GrNaIdEidJr+f3z8G3
smDgU5xXhN4+1Eo5xU/ZmQy03tU5E00/PRiMTHz1RNXeO+w/iu4PlAJN7pk5oy75
QzDtaCzDjKMCN+1PCQ5VNCL04ws8JifU6QLxSgXgsShBnv19FlxiejgvjNWg+Lzc
uHxyP0PlvfF5BWTiEV68KYcfQPbamOH7Vb8v4tQ4/j/ioA7mYso+Q0jX0Y4ae1FN
XNs4KnTsIFTsXWzBIYFlFPwQ5d+mdG84W7FpmwwcXaRWQxMwdJq8QjlUuFng439B
6OgQqtq4wmvwoPjKS5nOesfdrdH9Scx2zg6uwhaY0zKMtPW/CEzzLFUfq+cZ6q0=
=r+t0
-----END PGP SIGNATURE-----
-------------- next part --------------
A non-text attachment was scrubbed...
Name: 0x1B438BF4.asc
Type: application/pgp-keys
Size: 21191 bytes
Desc: not available
URL: <http://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20140424/6283c3e0/attachment.bin>