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

From: [email-masked]
Date: Tue, 26 Jul 2022 17:44:55 +0200

"large holders who perform zero transactions will still mine in order to preserve the value of the network"
let me slightly modify the sentence below:
"The Prisoner's Dilemma is a standard example of a game analyzed in game theory that shows why completely rational large holders might not cooperate, even if it appears that it is in their best interests to do so."
I'm pretty sure we will have a textbook case of Prisoner's Dilemma here.
Regards
Jaroslaw
W dniu 2022-07-26 10:20:38 użytkownik Erik Aronesty via bitcoin-dev <[email-masked]> napisał:
even with zero block reward and minimal fees, large holders who perform zero transactions will still mine in order to preserve the value of the network
 
this is not "mining your own tx", it is unrelated
 
this is "mining at a small loss to preserve your stake"
 
not only don't we need issuance or fees, but also the censorship resistance is not meaningfully improved with issuance 
 
On Mon, Jul 18, 2022 at 3:14 PM Erik Aronesty <[email-masked]> wrote:
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
 
again, this is meaningless.   if the fees aren't enough to keep  bitcoin secure for large transactions, then large holders are incentivised to mine
 
that's it.
 
it's not complicated