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)

CitizenPleb 2y ago

The general idea being if the reward appreciates sizably for the given block, miners will game on increasing hash power to win the block, right? Thought he mentioned the idea of strengthening the network in the future by fun little actions like this now.

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Discussion

Guy Swann 2y ago

Yeah it’s the same idea & I’ve always had a fondness for it. Might be a good time to try and formalize it and see if there were people who would want to participate in something like that. 🤔

CitizenPleb 2y ago

Nostr would certainly be the place to formalize it for sure. Fun time capsule.