#bitcoin should define "network users" as
those who pay the security budget of the network.
hodlers dont contribute to network security,
therefore they are not users.
#bitcoin should define "network users" as
those who pay the security budget of the network.
hodlers dont contribute to network security,
therefore they are not users.
id define it as either using bitcoin and paying fees to miners, or using energy to mine yourself. Gotta do one of those or gfy
mining definitely contributes to network security so that fulfills my condition!
How is it possible to have a bitcoin UTXO to hodl without paying for a tx?
hodling does pay the security budget. Non-circulating btc makes the circulating btc scarcer, which raises the value. If all the saved btc became constantly spent btc, the miners would get more units, but at less value per unit - the result would be basically the same incentive to mine, but without the benefit of people having savings. So hodl. Hodl more, actually.