Hourglass V2 Update

The Hourglass proposal, initially introduced to address concerns surrounding the potential mass liquidation of P2PK funds, has been updated based on feedback received. The revised version of the proposal, known as Hourglass v2, introduces a significant change to how spend amounts from such outputs are handled. Specifically, it now limits the amount that can be spent from these outputs to only 1 bitcoin per block. This modification aims to mitigate risks and manage the impact on the market more effectively.

Further details and the rationale behind this enhancement can be found in the documentation hosted on GitHub, which outlines the technical aspects and objectives of the updated proposal. Interested parties are encouraged to review the proposal here: Hourglass v2 proposal. Additionally, the original discussion that led to the development of the Hourglass proposal is available for review on Google Groups, providing context and insights into its evolution: Original Hourglass proposal discussion.

The developers behind the Hourglass proposal welcome thoughts and feedback on this updated approach. They aim to engage with the community to refine and improve the proposal further, ensuring it effectively addresses the identified issues while supporting the stability and security of the Bitcoin network.