Post
Topic
Board Development & Technical Discussion
Merits 6 from 3 users
Re: Proposal to Address Dormant Bitcoin:Recycling Lost Coins into the Mining Process
by
DannyHamilton
on 16/07/2023, 06:43:30 UTC
⭐ Merited by witcher_sense (4) ,ETFbitcoin (1) ,Cricktor (1)
This proposal aims to address the issue of dormant Bitcoin,
Nonsense. It is not an "issue" for a person to decide that they want to save money for the future and not spend it right now.

commonly referred to as "lost" or "unclaimed" coins,
I prefer to just call it what it is, "unspent".

by suggesting a mechanism to recycle them back into the mining process.
Say what you mean: "suggesting a mechanism to STEAL money from others"

By doing so, we strive to prevent Bitcoin from being permanently lost
Nothing lasts forever. If you don't want to lose your bitcoins, then make sure you have a good system of storing and securing your private keys.

and ensure the long-term integrity
Sounds to me like you're trying to DESTROY the integrity, not preserve it.

and scarcity of the network.
Wouldn't permanently lost bitcoins IMPROVE scarcity?

numerous Bitcoin wallets remain inactive for extended periods, often due to users losing access to their private keys or abandoning their wallets.
Or simply choosing not to spend their bitcoins.

This results in a significant amount of Bitcoin becoming inaccessible
That's the point, isn't it?  My bitcoins are SUPPOSED to be inaccessible to you.

and presumed lost forever.
You can presume whatever you want, but that doesn't give you the right to steal them.

To prevent the permanent loss of Bitcoin, we propose the implementation of a mechanism that gradually and systematically sends dormant funds back into the mining process after a predefined period of inactivity.
No thanks. This has been suggested hundreds of times before. Your scam to steal bitcoins is not welcome in the bitcoin community. Go take your stea-a-coin altcoin idea elsewhere. I'm sure there are some scammers and thieves in the world that would love to support you in this endeavor.

Specifically, if a Bitcoin wallet remains not accessed(by simply logging on,
There's no such thing as "logging on" to Bitcoin.

opening the wallet)
There's no way to know whether or not someone has "opened their wallet". Perhaps you fail to understand what the word decentralized means?

for a continuous period of ten years, the funds associated with that wallet will be redistributed back to the network
Ten years? Ten years!?!

If someone in their 20s wants to use Bitcoin to save for retirement, they may not touch those bitcoins for at least 40 and possibly as much as 70 years! And you want to steal their bitcoins just because they are planning and preparing for their future?

dont be a dick about it like in other posts i have seen.
So you're already aware that this nonsense has been presented in the past, and you're already aware that it wasn't received well, and yet here you are being a dick about it and rehashing the same tired trash yet again.  Just go away please.

This space can be very very toxic.
That's what happens when thieves come here and try to convince the gullible among us to join them in their crusade to take bitcoins away from others.