From: Tobin Harding <me@tobin•cc>
To: Peter Todd <pete@petertodd•org>,
Bitcoin Protocol Discussion
<bitcoin-dev@lists•linuxfoundation.org>
Subject: Re: [bitcoin-dev] Surprisingly, Tail Emission Is Not Inflationary
Date: Sun, 10 Jul 2022 12:10:40 +1000 [thread overview]
Message-ID: <20220710021040.GB10595@aerus> (raw)
In-Reply-To: <YsmfTubgqua0FHR0@petertodd.org>
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Hi Peter,
Interesting blog post.
On Sat, Jul 09, 2022 at 11:31:26AM -0400, Peter Todd via bitcoin-dev wrote:
> On Sat, Jul 09, 2022 at 08:24:51AM -0700, Eric Voskuil wrote:
> > To clarify, price inflation is not caused by market production. Attributing the observed lack of inflation (eg fee %) to loss is an assumed relation.
>
> My article is a mathematical proof that has nothing to do with observations of
> inflation.
>
> What I did is prove that if there is tail emission/fixed supply, the coin
> supply will converge towards a fixed amount because the coin supply dependant
> rate of coin loss balances out the fixed rate of coin production.
>
> That proof has nothing to do with market dynamics and would happen in any
> system, economic or not, with similar underlying dynamics.
I'm not a mathematician but I think your models assumption that coin
loss is proportional to number of coins misses something, correct me if
I'm wrong but as value of coins goes up is it not reasonable to expect
coin loss to go down as people are more careful (not to mention
improvements in tooling and education).
Is it really possible to model coin loss as exponential decay
considering such things (I'm not being facetious, that is a real
question, like I said I'm not a mathematician)?
Cheers,
Tobin.
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next prev parent reply other threads:[~2022-07-10 2:20 UTC|newest]
Thread overview: 56+ messages / expand[flat|nested] mbox.gz Atom feed top
2022-07-09 12:46 Peter Todd
2022-07-09 14:26 ` Eric Voskuil
2022-07-09 15:15 ` Peter Todd
2022-07-09 15:24 ` Eric Voskuil
2022-07-09 15:31 ` Peter Todd
2022-07-09 17:43 ` naman naman
2022-07-09 17:48 ` Peter Todd
2022-07-10 6:54 ` naman naman
2022-07-10 2:10 ` Tobin Harding [this message]
2022-07-10 7:08 ` vjudeu
2022-07-11 18:25 ` Larry Ruane
2022-07-10 10:18 ` Jacob Eliosoff
2022-07-11 2:32 ` Anthony Towns
2022-07-11 6:15 ` Stefan Richter
2022-07-11 10:42 ` Giuseppe B
2022-07-11 12:56 ` Erik Aronesty
2022-07-11 23:57 ` Anthony Towns
2022-07-13 18:29 ` Zac Greenwood
2022-07-11 16:59 ` Peter Todd
2022-07-11 17:44 ` Bram Cohen
2022-07-13 14:06 ` Alfred Hodler
2022-07-09 14:57 John Tromp
2022-07-09 15:13 ` Peter Todd
2022-07-11 18:44 ` Dave Scotese
2022-07-09 20:53 Eric Voskuil
2022-07-09 20:54 Eric Voskuil
2022-07-09 21:59 ` ZmnSCPxj
2022-07-10 14:17 ` alicexbt
2022-07-10 16:38 ` alicexbt
2022-07-10 17:29 ` Peter Todd
2022-07-10 17:27 ` Peter Todd
2022-07-10 18:12 ` vjudeu
2022-07-18 11:34 ` David A. Harding
2022-07-18 19:14 ` Erik Aronesty
2022-07-18 21:48 ` Eric Voskuil
2022-07-25 15:04 ` Erik Aronesty
2022-07-26 15:44 ` jk_14
2022-07-26 17:05 ` Erik Aronesty
2022-07-09 22:21 Peter
[not found] <mailman.80287.1657405305.8511.bitcoin-dev@lists.linuxfoundation.org>
2022-07-10 7:44 ` John Tromp
2022-07-10 17:42 Eric Voskuil
2022-07-19 18:36 Peter
2022-07-20 14:35 ` Eric Voskuil
2022-07-26 20:01 jk_14
2022-08-15 21:46 jk_14
2022-08-17 11:10 ` Erik Aronesty
2022-08-16 16:05 Peter
2022-08-19 17:21 ` aliashraf.btc At protonmail
2022-08-20 15:30 ` Billy Tetrud
2022-08-17 8:54 jk_14
2022-08-17 13:43 jk_14
2022-08-18 15:29 ` Breno Brito
2022-08-18 15:44 ` Billy Tetrud
2022-08-18 20:49 ` Erik Aronesty
2022-08-18 20:22 jk_14
2022-08-19 5:34 vjudeu
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