1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
|
Return-Path: <luke@dashjr.org>
Received: from smtp1.linuxfoundation.org (smtp1.linux-foundation.org
[172.17.192.35])
by mail.linuxfoundation.org (Postfix) with ESMTPS id 6A331CDB
for <bitcoin-dev@lists.linuxfoundation.org>;
Mon, 11 Dec 2017 18:34:59 +0000 (UTC)
X-Greylist: from auto-whitelisted by SQLgrey-1.7.6
Received: from zinan.dashjr.org (zinan.dashjr.org [192.3.11.21])
by smtp1.linuxfoundation.org (Postfix) with ESMTP id 64ADA17E
for <bitcoin-dev@lists.linuxfoundation.org>;
Mon, 11 Dec 2017 18:34:58 +0000 (UTC)
Received: from ishibashi.localnet (unknown [IPv6:2001:470:5:265::71])
(Authenticated sender: luke-jr)
by zinan.dashjr.org (Postfix) with ESMTPSA id 0011838A0C54;
Mon, 11 Dec 2017 18:34:14 +0000 (UTC)
X-Hashcash: 1:25:171211:teweldemat@gmail.com::/C4B+StgkGdHuDBw:cw2ch
X-Hashcash: 1:25:171211:bitcoin-dev@lists.linuxfoundation.org::rUchDPtYjqjvCPh1:6O5J
From: Luke Dashjr <luke@dashjr.org>
To: Teweldemedhin Aberra <teweldemat@gmail.com>,
Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>
Date: Mon, 11 Dec 2017 18:34:12 +0000
User-Agent: KMail/1.13.7 (Linux/4.12.12-gentoo; KDE/4.14.37; x86_64; ; )
References: <CAEA=K3QiDtuHJNBLbZxaw6eSGhYWC5++vKJEX2Shxs7vb9bZ-A@mail.gmail.com>
In-Reply-To: <CAEA=K3QiDtuHJNBLbZxaw6eSGhYWC5++vKJEX2Shxs7vb9bZ-A@mail.gmail.com>
X-PGP-Key-Fingerprint: E463 A93F 5F31 17EE DE6C 7316 BD02 9424 21F4 889F
X-PGP-Key-ID: BD02942421F4889F
X-PGP-Keyserver: hkp://pgp.mit.edu
MIME-Version: 1.0
Content-Type: Text/Plain;
charset="iso-8859-15"
Content-Transfer-Encoding: 7bit
Message-Id: <201712111834.13672.luke@dashjr.org>
X-Spam-Status: No, score=-4.2 required=5.0 tests=BAYES_00,RCVD_IN_DNSWL_MED,
T_RP_MATCHES_RCVD autolearn=ham version=3.3.1
X-Spam-Checker-Version: SpamAssassin 3.3.1 (2010-03-16) on
smtp1.linux-foundation.org
Subject: Re: [bitcoin-dev] BIP - Dead Man's Switch
X-BeenThere: bitcoin-dev@lists.linuxfoundation.org
X-Mailman-Version: 2.1.12
Precedence: list
List-Id: Bitcoin Protocol Discussion <bitcoin-dev.lists.linuxfoundation.org>
List-Unsubscribe: <https://lists.linuxfoundation.org/mailman/options/bitcoin-dev>,
<mailto:bitcoin-dev-request@lists.linuxfoundation.org?subject=unsubscribe>
List-Archive: <http://lists.linuxfoundation.org/pipermail/bitcoin-dev/>
List-Post: <mailto:bitcoin-dev@lists.linuxfoundation.org>
List-Help: <mailto:bitcoin-dev-request@lists.linuxfoundation.org?subject=help>
List-Subscribe: <https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev>,
<mailto:bitcoin-dev-request@lists.linuxfoundation.org?subject=subscribe>
X-List-Received-Date: Mon, 11 Dec 2017 18:34:59 -0000
You can implement this already, but only for ~1 year expirations.
IF <normal script> ELSE <1 year> CHECKSEQUENCEVERIFY ENDIF
Perhaps it would make sense to propose a flag extending the range of relative
lock-times so you can do several years?
Luke
On Monday 11 December 2017 5:30:37 PM Teweldemedhin Aberra via bitcoin-dev
wrote:
> It is estimated that about 4 million of the about 16.4 Bitcoins ever mined
> are lost forever because no one knows the private keys of some Bitcoin
> addresses. This effectively mean there are actually only 14.4 million
> Bitcoins in circulation even though 16.4 million are mined. There is no way
> of eliminating the human errors that cause these losses of Bitcoin from
> circulation, while the number of Bitcoin that will ever be mined is capped
> at 21 million. This means the total number of Bitcoins that are in
> circulation will eventually become zero, bringing the network to an end.
>
> The solution this BIP proposes is to implementing a dead man's switch to
> Bitcoin addresses. The dead man's switch causes the Bitcoins assigned to
> dormant addresses to automatically expire. A Bitcoin address is deemed
> dormant if it is not used in transactions for some fixed length of time,
> say ten years.
>
> The calculation of the miner's reward should take into account the Bitcoins
> that has expired. This means there is a possibility that miner's reward can
> increase if sufficient number of Bitcoins expire.
>
> Ref:
>
> http://fortune.com/2017/11/25/lost-bitcoins/
>
>
> <https://www.avast.com/sig-email?utm_medium=email&utm_source=link&utm_campa
> ign=sig-email&utm_content=webmail&utm_term=icon> Virus-free.
> www.avast.com
> <https://www.avast.com/sig-email?utm_medium=email&utm_source=link&utm_campa
> ign=sig-email&utm_content=webmail&utm_term=link>
> <#DAB4FAD8-2DD7-40BB-A1B8-4E2AA1F9FDF2>
|
