I think building some overlay scarcity and value on top of bitcoin blockchain
would incentivize people to transact a lot. An equilibrium would emerge between
paying transaction fees and mining new coins. Which would effectively be
equivalent to selling bitcoin and buying some mergemined altcoin, except this
would congest the bitcoin network. You can easily borrow scarcity from bitcoin
in some sidechain.
Jakub Trnka
Sent with [ProtonMail](https://protonmail.com) Secure Email.
‐‐‐‐‐‐‐ Original Message ‐‐‐‐‐‐‐
On 12 July 2018 10:05 AM, PJ Fitzpatrick via bitcoin-dev
<bitcoin-dev@lists.linuxfoundation.org> wrote:
> I am considering a method to derive digital scarcity from bitcoin
> transactions. Coins are created from transactions if their hash is among the
> closest n to the non zero portion of the block hash. Only a single coin can
> be created per transaction irrespective of the size of the transaction.
> Therefore n coins are created per block.
>
> The initial coin supply and addresses can be fully determined by the existing
> blockchain. Additionally coins are scarce as coins can only be produced by
> transactions.
>
> There are a number of variants such as creating computation puzzles from the
> previous block.
>
> Has anyone seen anything similar.
>
> PJ Fitzpatrick
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