Trading volume is a good perspective to view this through, actually. If an attacker decides to consolidate immediately, they could do so within just a couple hours and suppress the Bitcoin price for a long time.
> 1.7 million Bitcoin represents possibly about 1 week of global trading volumes. Even assuming it is 1-2 months of trading volumes, the market can absorb. Hourglass spreads that 1 week of trading volume over a minimum of 8 months, possibly more. > Trying to manage the Bitcoin price via spending restrictions is a terrible idea. While I generally agree with this sentence, I think P2PK coins are an exceptional case. > In any case, the Bitcoin price routinely drops by upwards of 85%. It is not a security concern. Price volatility is not a security. Price volatility absolutely impacts security, and this would be an unprecedented event. We also haven't seen an 85% price drop in a long time. On Saturday, May 3, 2025 at 5:55:28 AM UTC-6 Francis Pouliot wrote: > > Concept NACK. > > 1.7 million Bitcoin represents possibly about 1 week of global trading > volumes. Even assuming it is 1-2 months of trading volumes, the market can > absorb. > > Trying to manage the Bitcoin price via spending restrictions is a terrible > idea. > > In any case, the Bitcoin price routinely drops by upwards of 85%. It is > not a security concern. Price volatility is not a security. > On Tuesday, April 29, 2025 at 5:08:16 PM UTC-6 Hunter Beast wrote: > >> This is a proposal to mitigate against potential mass liquidation of P2PK >> funds. The specification is pretty simple, but the motivation and >> justification for it is a bit longer. >> >> https://github.com/cryptoquick/bips/blob/hourglass/bip-hourglass.mediawiki >> >> Feedback welcome! >> > -- You received this message because you are subscribed to the Google Groups "Bitcoin Development Mailing List" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion visit https://groups.google.com/d/msgid/bitcoindev/4f35a82a-bedb-4d4d-9de2-2dbc340b18acn%40googlegroups.com.
