Pages:
Author

Topic: Proposed solution to "lost coins" - page 4. (Read 4214 times)

hero member
Activity: 491
Merit: 514
April 09, 2013, 12:12:31 PM
#10
Your proposed solution has been implemented in at least one alternate cryptocurrency. Go use that one if you think it's a good idea.

Couldn't be bothered to say which one? I didn't notice that last time I checked out the altcoins but obviously this is not an original (or terrible) idea after all.

What is it that makes a lot of the users on this forum so cranky? Did they sell at $10 or maybe bought a pizza for 10,000BTC? Lost a wallet or decided not to pre-order an Avalon and bought a BFL ASIC miner instead perhaps?

Silly me thinking that there is decent discussion to be found here...
legendary
Activity: 1400
Merit: 1013
April 09, 2013, 11:18:46 AM
#9
Your proposed solution has been implemented in at least one alternate cryptocurrency. Go use that one if you think it's a good idea.
hero member
Activity: 491
Merit: 514
April 09, 2013, 11:18:27 AM
#8
Not hating, just getting old and tired.  Been around a couple of years and I have seen this thread just too many times.  The 21M cap seems to be the one thing that every new person seems that they need to "fix".  It is not just you.  Stick around a few months and you will get tired of the threads all proposing solutions to the 21M "problem".

Hey you kids - get the hell off my lawn!

I've been mining since 2011 so I'm not new, just never bothered to make an account since I normally avoid participating in the joyful world of Internet forums but like many I have BTC on the brain and couldn't help myself. I agree it's not going to be a problem any time soon but I do see bitcoin's potential to last centuries in which case it could be a possibility way down the road IMO.
hero member
Activity: 491
Merit: 514
April 09, 2013, 11:14:12 AM
#7
1. Propose a terrible idea and ask people to tell you why it's terrible
2. Be told why it's terrible
3. Get pissed
4. ? ? ?
5. Profit

Who's pissed? I was expecting the trolls to come out Tongue and nobodies explained why it's a terrible idea. Is that all you have?
legendary
Activity: 1176
Merit: 1280
May Bitcoin be touched by his Noodly Appendage
April 09, 2013, 11:11:59 AM
#6
1. Propose a terrible idea and ask people to tell you why it's terrible
2. Be told why it's terrible
3. Get pissed
4. ? ? ?
5. Profit
hero member
Activity: 491
Merit: 514
April 09, 2013, 11:08:03 AM
#5
1) It is theft.  The "lost coins" (including not so lost ones) don't belong to you.

2) It is changing the rules after the fact.  If Bitcoin implemented this from day 1 it would be not quite as bad but there is a "social contract" in Bitcoin.  Here are the rules, the system is volentary, if you don't like them you don't need to use them.  Changing the rules after the fact is a bait and switch.

3) This has been proposed at least a hundred times by a hundred different people going as far back at 2010.  

4) It won't happen.  I am not saying it won't happen because it is a bad idea it simply won't happen.  Bitcoin requires consensus.  Any break from the consensus is a hard fork.  The existing "no coin theft" Bitcoin will still exist.  You can't force it to stop.  The bad news is two different completely incompatible bitcoins both calling themselves "bitcoin" is just a recipe for mass chaos and confusion.  The utility value of both systems declines.

5) If you want to steal coins then make a new crypto-currency, call it "steal-a-coin" or something and see how popular it is.

1) Is it theft when an unclaimed estate is handed over to the state?

2) Technically the rules of bitcoin have already changed after the fact if you were watching the recent fork and changes to client.

3) Sorry I guess I did not look hard enough! My bad.

4) I agree it is unlikely but not impossible. The mining community recently had to come to consensus on the issue of the large blocks breaking older clients. As cryptography progresses it is likely the protocol will have to adopt a new encryption algorithm eventually etc etc.

5) HA. HA. HA. What you call stealing, I call recycling. I honestly think there is a slight chance that lost coins could become an issue in the extremely long term. It's just a matter of fact that coins will continue to be lost shrinking the supply from the intended 21 million.

Some how, some way, we need to teach every noob how to use the search function.  Maybe they should all have to prove they know how to search for a topic before they get out of noob jail?

Moderators, can we make this happen?  Just some sort of test where they have to use the search function once before they are allowed to post "new" topics?

Sorry to be "that guy". I honestly did search but didn't find anything. If you're not too busy hate'n could you point me in the right direction?
hero member
Activity: 491
Merit: 514
April 09, 2013, 10:55:48 AM
#4
What value would you suggest for X? Because this only works if people agree on a value.

perhaps 10 years
donator
Activity: 1218
Merit: 1079
Gerald Davis
April 09, 2013, 10:36:27 AM
#3
1) It is theft.  The "lost coins" (including not so lost ones) don't belong to you.

2) It is changing the rules after the fact.  If Bitcoin implemented this from day 1 it would be not quite as bad but there is a "social contract" in Bitcoin.  Here are the rules, the system is volentary, if you don't like them you don't need to use them.  Changing the rules after the fact is a bait and switch.

3) This has been proposed at least a hundred times by a hundred different people going as far back at 2010.  

4) It won't happen.  I am not saying it won't happen because it is a bad idea it simply won't happen.  Bitcoin requires consensus.  Any break from the consensus is a hard fork.  The existing "no coin theft" Bitcoin will still exist.  You can't force it to stop.  The bad news is two different completely incompatible bitcoins both calling themselves "bitcoin" is just a recipe for mass chaos and confusion.  The utility value of both systems declines.

5) If you want to steal coins then make a new crypto-currency, call it "steal-a-coin" or something and see how popular it is.
newbie
Activity: 46
Merit: 0
April 09, 2013, 10:35:50 AM
#2
What value would you suggest for X? Because this only works if people agree on a value.
hero member
Activity: 491
Merit: 514
April 09, 2013, 10:31:28 AM
#1
Not sure if this is the best place to post this but I was thinking about all of the lost coins this morning and had an idea that may or may not suck.

What if extremely stale coins got recycled? For example, if an address has not be touched in X years then Y BTC from it gets added to the next block reward. Not sure what a good age and ammount/% would be but perhaps 10 years. Would be trivial to move your coins every few years to keep them "fresh" and wallets could automate this and have warnings as well. With a system like this, no coins would ever be permanently lost and would add some reward to miners down the road. OK now tell me why this is a terrible idea... Tongue
Pages:
Jump to: