Part of the root cause is violations of the gentleman's agreement to not trade testnet coins for money, this results in predictable chaos with people sniping the low difficulty blocks. Some believed that resetting alone would discourage the conduct, but even if it had (it hadn't people are selling them now) it was still likely that people would hoard up coins just in case they became tradable in the future.
There is a simple fix for this which doesn't result in an operating difference from Bitcoin, just an economic one. Hard fork in an ultramassive premine, as large as possible but what stays with existing value overflow logic. (so maybe an additional 21 million testnet btc?).
This also resolves the 'actual developers can't get coins problem' and if someone starts trading tnbct for money, whomever has the premine wallet should feel feel to sell into it what they can. Once they run out of coins it'll be time for another testnet reset.
It may just not be possible to prevent degens from trading tn coins for money, -- I mean consider the altcoins that some people spend money on

, there is basically no low bar on how crappy you can make a cryptocurrency where some scammer won't try to sell it to some fool. But what can't be prevented can at least be turned into a benefit.
Compared to things like just rigging the subsidy to continue forever-- that's a bigger consensus change compared to bitcoin, and I think it doesn't have the right incentive surface... some of the most popular altcoins have endless inflation and people still use them. Instead you want the failure mode to be "if you do trade this for money, most of the profits end up going to support a developer or development, rather than whatever jerk decided to trick people into paying for it".

F
eel free to suggest yourself as the custodian of the premine. Or it could be some anonymous party if there is a concern that they'll be pestered for handouts. There should be a general expectation that the custodian of the premine will use it for the betterment of Bitcoin development, but if it's found that they're not-- solution is just another reset.

I would like to nominate myself. I would need to talk more about the expectations of the position, but I feel pretty well positioned to handle everything described.
I can assure you I can handle Bitcoin Testnet as stated by Greg and probably more so. I'm also well-positioned for the above proposal... as I am the exchange owner, I would still earn my fees (
with your assistance, but I think I've already been assisted by a few that type on the Mailing list.) I could charge a 50% fee for the market, and a tester would still do business in order to test someone's project they were really excited about + I have the ability to freeze suspicious bad actors. I would potentially consider this an attack, and it would be interesting to see how it played out.
I compare it to a Walmart parking lot vs an Aldi parking lot. Aldi charges .25 for a big cart and you get that 25 cents back when it is put up. Walmart is a shitshow and Aldi has kids/homeless/me walking around returning carts for them. I imagine anything you do, I can summon those carts back. We have other options as well, but I don't have to discuss my exact intents and write it out in code... I can move swiftly due to no bureaucracy and I don't get a paycheck every week, I have to make my paycheck through services. Thankfully, there is a demand for some of those services.
I got a good chuckle at
"It may just not be possible to prevent degens from trading tn coins for money, -- I mean consider the altcoins that some people spend money on Smiley, there is basically no low bar on how crappy you can make a cryptocurrency where some scammer won't try to sell it to some fool. But what can't be prevented can at least be turned into a benefit." I agree. Trust me, this market has blown my mind more than anyone... it is absurd and it is evolving!!! Let these folks evolve.
Establish a set day for a totally new testnet and drop the old version out of the current core... it feels so obvious to me, that will keep the long term people out and short term people have a reason to put up a cart + keep stuff not scarce.
I would propose Jan 7, 2030. Build the mindset that any degen that holds past then has an "expired option" type leftbehind test coin. (This feels so obvious to me)
I think it is a *terrible* idea to premine Testnet coins. If the punishment is selling the coins... you are literally doing 50% of the exchange owners duty to get paid themselves! It's such a fucking mess, but you almost need to be the one with the exchange to challenge the exchange. Clearly, my little shit exchange that has bothered nobody, is still getting brought up by people who should be focused on Bitcoin with its $1,880,000,000,000 market cap.
IMO Testnet should have normal POW, all the reasons it doesn't are complete bullshit. Fork it, v5, or whatever you got to do in order to have POW that is like Bitcoin (after all, that's the goal, right?)
Perhaps table it till 2029 and reconfirm the 2030 date. (These dates can be moved up of course, but 10 years felt like a pretty good spot. It isn't a huge pain in the ass to upgrade for the community either... It's a really rough few hours to me while I eat Hot Pockets and watch us upgrade, lol like I told Sjor via email... The exchange (I) MAKE MONEY EVERY VERSION OFF CONFUSED PEOPLE, people won't just give up their v4 coins, the will convert to v5 if they can get *anything* and anything is a small ass number here in Shitcoin.
I figure if you keep the same ideology and fail to see what I see there are only two options: 1. You fail. 2. You give up and (very easily could) remove Testnet entirely, which would be terrible sad.
This is an interesting proposal though from Greg.
It's probably better to have him inside the tent pissing out, than outside the tent pissing in.
I'm trust worthy and I do my job. There has long since been a theory that people with coins have no vote... I too feel like I have no vote because I need no vote.
God is present. Not to sound like a nutter, but this thing surges, I've studied worthless testnet for years it is amazing + so are the users, and it is hungry to expand... kill the long term value with a set date far out, don't upgrade this thing weekly, and don't fucking worry about it man, I got this... with or without premined coins, the find there way to me anyways. Make it not such a big deal and it won't be a big deal... having Testnet debates on how to make it even more shitty (yall did a fine job with v4 rofl) popup in the mailing list for 10-15% of the emails regarding my private company is absurd.
