Nostr Web Client

It might be a variation on an idea I’ve thought about myself. Goes something like this:

Spend a small amount of BTC automatically to an “anyone-can-spend” address with a timelock for 50 years worth of blocks from now. Do like $1 worth every on-chain transaction. Then it will get unlocked at that block height, and any miners can then scoop it up for themselves like a fee. If Bitcoin does 1000x in purchasing power over 50 years, then that $1 will be the equivalent of $1000 in today’s money in fees for future miners.

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No idea if that’s what he is talking about, but it sounds similar the way you described it.

(If you have a link to where this was explained I could look into it)

Bryan 2y ago

Thx Guy. On a recent podcast, he mentioned doing this with 0.5 BTC 100 years from now.

So this amount will be >>>>>>>> than the block reward.

Such a cool idea.

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Discussion

Jen 2y ago

He has time locked little pots of sats at each halving. I think his overall goal is to incentivise collaboration and bring people together for a common goal. Presumably in the future those time locked sats will be of a significant value and therefore encourage people to continue to secure the network with miners for a chance at a small share of the prize.

He’s also just an ultra maths nerd and thinks about the future is a wildly different way. It’s fun that he’s committed to a project that he will never see the outcome of because he believes in the best of humanity and the longevity of Bitcoin.