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Author Topic: Idea / Discussion: Address Maintenance Fees (reduce size of blockchain)  (Read 645 times)
SquishySquish
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October 17, 2013, 06:55:07 AM
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I have an idea that can reduce the blockchain size by having address maintenance fees. Each address would have a maintenance fee deducted from it every block.

The maintenance fee could be 25 satoshis per block. This means 3,600 satoshis per day. If you have 0.01 BTC (1 million satoshis) it will last 277 days, so it is not a worry.

These satoshis could be used to pay a block subsidy so in the future when the reward is set to get lower and lower, there is still an incentive for miners to mine.
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Elwar
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October 17, 2013, 07:04:49 AM
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Or we could just have all addresses expire after a year.

We could rename Bitcoin to freecoin or something like that.

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October 17, 2013, 07:23:55 AM
 #3

I have an idea that can reduce the blockchain size by having address maintenance fees. Each address would have a maintenance fee deducted from it every block.

The maintenance fee could be 25 satoshis per block. This means 3,600 satoshis per day. If you have 0.01 BTC (1 million satoshis) it will last 277 days, so it is not a worry.

These satoshis could be used to pay a block subsidy so in the future when the reward is set to get lower and lower, there is still an incentive for miners to mine.

There is already an incentive for miners to mine, more transactions which have fees in the future will replace the block reward. Please read the white papers before commenting on the bitcoin protocol.

Also this is a horrible idea first it wouldn't reduce the size of the blockchain, it would in fact make it bigger since you have to update the balances. Also once "transaction spam" (which is not the correct wording) is in the blockchain that is the problem.

This is also penalizes people for doing paper wallets, which is a very secure way of handling saving coins, so why would you want to penalize them for doing something right?

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justusranvier
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October 17, 2013, 07:36:05 AM
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Altcoin discussion belongs in the altcoin discussion area.
SquishySquish
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October 17, 2013, 07:37:10 AM
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Altcoin discussion belongs in the altcoin discussion area.
I am not talking about alt coins, I think this should belong in bitcoin. If there are less addresses to track, there should be less blockcahin size.
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October 17, 2013, 07:47:55 AM
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Altcoin discussion belongs in the altcoin discussion area.
I am not talking about alt coins, I think this should belong in bitcoin. If there are less addresses to track, there should be less blockcahin size.

each block does NOT contain details of every address ever used... each block simply shows transactions. so if i do not use my address for a week it will not appear in a weeks worth of blocks.

but if you are taking a 25 satoshi fee from me every time a block happens then my address would appear in every block. thus ADDING to the blocksize.

secondly all i read your idea as, is a way to get peoples private keys. why would we need you to maintaine our addresses. that is kind of like a bank. which makes me wonder do you understand the whole point of decentralised. do you understand the whole point of bitcoin, its code, its ethos etc.

thirdly, when the reward decreases every 4 years the value of each bitcoin becomes more valuable purely because miners will not want to sell their rewards for anything less then an amount that will cover their lifestyle and bills. (in theory) thus causing the bitcoin price rise to compensate amount of bitcoins on the market (supply&demand) so in 40 years 0.01btc would/could be worth alot.

lastly worrying about mining profits is something that is not a problem for decades. so tell the idea to your grandkids, as its not something worth implementing now

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justusranvier
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October 17, 2013, 04:02:49 PM
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Altcoin discussion belongs in the altcoin discussion area.
I am not talking about alt coins, I think this should belong in bitcoin. If there are less addresses to track, there should be less blockcahin size.
What you're talking about is not Bitcoin, and will never be accepted into Bitcoin.

If you want this, make a new cryptocurrency with the feature and see how many people you can convince to switch.
gwoplock
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October 17, 2013, 04:06:29 PM
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how would this reduce the blockchain size?
greyhawk
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October 17, 2013, 04:09:55 PM
 #9

I have an idea that can reduce the blockchain size by having address maintenance fees. Each address would have a maintenance fee deducted from it every block.

The maintenance fee could be 25 satoshis per block. This means 3,600 satoshis per day. If you have 0.01 BTC (1 million satoshis) it will last 277 days, so it is not a worry.

These satoshis could be used to pay a block subsidy so in the future when the reward is set to get lower and lower, there is still an incentive for miners to mine.

You should do this. Call it the Nakamotax.
bg002h
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October 18, 2013, 12:23:23 AM
 #10

Or we could just have all addresses expire after a year.

We could rename Bitcoin to freecoin or something like that.
Exactly. Well said.

http://freico.in/about/

I call it theft coin...or digital pseudo-fiat Smiley


Hardfork aren't that hard.
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