Subject: Re: [bitcoin-dev] Surprisingly, Tail Emission Is Not Inflationary

From: "David A. Harding" <[email-masked]>
Date: Mon, 18 Jul 2022 01:34:39 -1000

On 2022-07-10 07:27, Peter Todd via bitcoin-dev wrote:
> The block subsidy directly ties miner revenue to the total value of 
> Bitcoin:
> that's exactly how you want to incentivise a service that keeps Bitcoin 
> secure.

I'm confused.  I thought your argument in the OP of this thread was that 
a perpetual block subsidy would *not* be tied to the total value of 
bitcoin.  It'd be tied to the total value of bitcoin *lost* each year on 
average.

If so, would you then agree that the inability of a perpetual block 
subsidy to directly tie miner revenue to the total value of Bitcoin 
makes it not exactly how we want to incentivise a service that keeps 
Bitcoin secure?

Thanks,

-Dave