I've been seeing some talk lately about the need to fork bitcoin in the future and implement tail emissions, as though Bitcoin will fail without a block reward. This has never made sense to me, and I think such a fork would be a terrible idea.
Bitcoin doesn't have a "security budget." It's a protocol to provide probabilistic finality to reduce / eliminate the risk of a double spend. With no block reward, for any type of large transaction with an untrusted party, there is a strong incentive to provide "free" bitcoin to the miners of subsequent blocks, to ensure finality. This will be less necessary for small transactions, since the base level of transaction fees will likely be sufficient.
What are your thoughts on this? Obviously, we're still decades away before this will be a "problem," but I think it's important to address. These "tail emission" arguments need to put to rest.
@ek @kr @k00b
Great call. Appreciate the update.
A couple thoughts:
Referral program is going to remain a challenge. Most stackers prefer to remain nym on SN and the most likely referrals would be to people they know in the real world. This likely prevents them from referring even though they love and support SN.
With the above in mind, it SN itself needs to be the primary sales and marketing funnel. I don't think you can rely on organic growth. I continue to be shocked how many highly active bitcoiners on twitter and nostr have never been on SN. Need to capture this low hanging fruit. Personally I would like to see SN accounts much more active on social media and much more proactive at identifying and engaging with potential users. Too busy, hire a social media intern for a couple months, if it doesn't bare fruit move on.
Also, fountain ads were great and seemed to work great, go where your audience is, I suggest you do promotion on one of the Bitcoin pods.
Territories are finally starting to look like the value add I expected them to be.
Get rid of MSM reward payout structure. Don't fool yourselves with artificially inflated numbers, they will not sustain. Keep it as a once a year promotion tied to march madness and do smaller similar promotions throughout the year. Go back to daily rewards or test weekly but no leaderboard.
That's my 2 sats.