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dooferorg
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September 25, 2012, 03:06:42 PM
 #41

So there already exists a coin age? In this thread here: https://bitcointalk.org/index.php?topic=112525.0 the idea came up to let btc die after 99 years when they werent moved for that time. This could prevent that btc are lost in the network for whole future only because persons died or the access to these addresses is gone through another way.

Sounds like a horrible idea. If you have any other form of currency, it doesn't disappear if you don't spend it, regardless of how long it's been sitting in a drawer or under a mattress.

In 99 years though we'll have moved on to something else anyway. I don't see a point to having a possible time-out attack vector added.

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September 25, 2012, 06:15:14 PM
 #42

I think when their is already a coin age and the transaction is bound to a block, the coin age cant be faked. Which means btc couldnt expire before 99 years. So it would be safe to assume that btc that lie 99 years at one address are abandoned. I dont see a reason why there still should be an owner after that time.
So this way the available amount of bitcoins remains stable plus, when all 21.000.000 btc are mined the network could held stable by let these btc mine again.
So i dont see much of a risk at this. I think the more that it could help stabilize the network because miners could find a lost treasure this way, keeping the network running after all is mined.
Because i fear, when all is mined the network will be in trouble until fees for transactions are high enough that miners work again. This could only help a bit of course.

Anyway... youre right... in 99 years bitcoin probably is gone. Or its a sunsystem currency... Smiley

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
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