Coinbase Maturity

[outofreserve]

There is a lot of discussion surrounding how long cbm should take. It appears most people fall somewhere between 35-365 days, but I have witnessed some propose significantly longer periods of time. Some considerations (with likely more to follow):

CBM is irrelevant/insignificant to a truly motivated attacker
Some individual or individuals with the only or primary motivation to destroy bitcoin will not care one way another about receiving rewards. If they are a truly dangerous attack vector to the network, they will have the resources to eat the cost of losing rewards.

Lengthening CBM introduces new attack vectors via financial engineering
A longer coinbase maturity is in some ways similar to a futures market. At some point in the future centralized exchanges will begin to buy/sell/trade and offer financial products with bitcoin (post-proof of work change). It is naive to think that centralized exchanges will not produce some form of financial product that enables the purchase of immature coinbase rewards on a futures market. This also opens the door to a variety of other derivative and leveraged products. IE A regulated mining company could sell futures contracts of their coinbase rewards that could be leveraged or hypothetical by financial institutions. This could and likely would lead to exchange rate manipulation between other currencies and serve to centralize bitcoin and mining further as we saw prior to the proof of work change.

I urge developers and the community to be satisfied at 45 days maturity at this point in time and refocus efforts on fixing the bugs and exploits allowing contiguous data to appear on-chain.

[melvincarvalho]

I would like to see this, provided that pools continue moving from Stratum V1 to DATUM.

Two things motivate me. First, it would give us a genuine decentralization success story and help take mining out of emergency mode. Second, it would let us start building new things instead of continually fighting the old systems.

Good things tend to follow when the incentives and architecture are moving in the right direction.

[FlyTheElephant1]

I believe OP is a hostile entity with loyalties to a shitcoin ecosystem. Concern trolling operation.

He says he was trolling when he made this statement.

[FlyTheElephant1]

(My above post is not intended to disregard or invalidate claims made in the post, just added for context to help people understand that motivations behind the construction of this discussion are questionable)

[outofreserve]

I reject your accusation of being a hostile entity with loyalties to a shitcoin ecosystem. My concerns are valid. My motivation is to see bitcoin be sound money.

[outofreserve]

In the quote of mine you posted above I am being sarcastic regarding quai. I would never purchase, hold, or trade quai. Please learn to read sarcasm. The first portion of what I stated, "I never would've thought people in my camp would be capable of considering coin coinfiscation, but now I don't know," is referring to this pull request: #396.

[FlyTheElephant1]

OP has engaged with demanding that we change development path away from ensuring a healthy decentralized network and to permit 51% attacks via blind stratum hashrate. Concern trolling operation.

[FlyTheElephant1]

(My above post is not intended to disregard or invalidate claims made in the post, just added for context to help people understand that motivations behind the construction of this discussion are questionable)

[FlyTheElephant1]

This person continually spent his time demanding that we allow the network be 51% attacked by blind hashing operations and demanded that we kneel before the attackers. Concern trolling operation.

I have only looked through about 1 1/2 pages of his comments which led him to being banned from the primary discord. After such point of his ban he began causing problems in a mining pool discord. he is now making problems in that same mining pool discord demanding me to retract statements that he has made.

I will not retract any statements just because he has ordered me to and I will not be threatened by people hostile to our network.

[FlyTheElephant1]

(My above post is not intended to disregard or invalidate claims made in the post, just added for context to help people understand that motivations behind the construction of this discussion are questionable)

[chipless]

I believe that there should be a 30-45 day maturity. Not everyone who is mining either by pool or Datum can cover their electric and do depend on mining rewards. With this in mind there should also be a limit on how much can be sold at one time for the miners with a per day limit possibly. I think if the maturity or stratum is increased or taken away that many people will lose interest in the project and in the end the project could fail. To satisfy everyone involved either in the development, mining or trading aspect there should be a fair to everyone resolution. I have written the firmware for over 150 model miners and have seen how changes like this can affect the miners and some of them can barely afford to pay for the miner and depend on a quicker ROI.

Chipless