Economic-Majority Signaling for OP_CTV Activation

Economic-Majority Signaling for OP_CTV Activation

Original Postby martinschwarz

Posted on: March 9, 2024 16:27 UTC

The discussion centers on the dynamics between betting and selling Bitcoin (BTC), highlighting that these actions do not directly affect BTC's price or miners' rewards in fiat currency.

It emphasizes the unique position of BTC during the fork wars, where the introduction of BTC futures at Bitfinex played a crucial role in forecasting the economic viability of each fork. This event significantly influenced miners' decisions regarding which fork to support.

A proposed strategy for providing a more direct on-chain signal to miners involves offering them incentives. Specifically, the suggestion is to bribe miners with attractive fees enclosed in transactions. These transactions would be uniquely designed to be valid only on one side of the fork, thereby offering a clear incentive for miners to choose one path over another. This method aims at directly impacting miners' choices by leveraging economic incentives, contrasting with the indirect influence of market bets or the selling of BTC.