Philosophy is cool and all, but if the hashrate falls to ver...

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  "content": "Philosophy is cool and all, but if the hashrate falls to very low values in the future, we're going to have to be pragmatic about the security budget\n\nI love the idea of Ark as a 'Channel Factory', allowing billions to have fully sovereign Lightning nodes. However, if Ark is *too* efficient in this case, then a typical block might have only one transaction!\n\n(By the way, that's partly why I'm currently against CTV; I want Ark, but I don't want it to be *too* scalable; I want many medium-sized Arks, not one mega-Ark)\n\nOn balance, I think it'll all be fine and there won't be a problem with the security budget. But there could be a problem, and that problem could eventually be fatal. So I like to think about it\n\nThe article discusses Runes, but I think it dismisses them too quickly. The Lightning network could be extended to fully support Runes (no soft fork required), and it's possible (but admittedly, very unlikely) that one of the Runes becomes very valuable. As many Runes 'currencies' have tail emissions, it's possible that they could provide the right incentives to miners\n\nAnyway, there's always 'demurrage', a soft fork to apply a tax on old UTXOs, which would motivate people to move their coins more often and create. The rule could be that, when spending a UTXO older than X years, at least Y% of the outputs must be anyone-can-spend outputs that are locked to a few years in the future. Such outputs are equivalent to the block subsidy in practice",
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