From: Anthony Towns <aj@erisian•com.au>
To: Bitcoin Protocol Discussion <bitcoin-dev@lists•linuxfoundation.org>
Subject: Re: [bitcoin-dev] Surprisingly, Tail Emission Is Not Inflationary
Date: Tue, 12 Jul 2022 09:57:31 +1000 [thread overview]
Message-ID: <20220711235731.GD20899@erisian.com.au> (raw)
In-Reply-To: <YsxXCQihhSrYuIfS@petertodd.org> <CAJowKgLDXr1ycGzCqRTe=iA_SQkchd1D4gtDD6o4gnK4dyn5dQ@mail.gmail.com>
On Mon, Jul 11, 2022 at 08:56:04AM -0400, Erik Aronesty via bitcoin-dev wrote:
> > Alternatively, losses could be at a predictable rate that's entirely
> > different to the one Peter assumes.
> No, peter only assumes that there *is* a rate.
No, he assumes it's a constant rate. His integration step gives a
different result if lambda changes with t:
https://www.wolframalpha.com/input?i=dN%2Fdt+%3D+k+-+lambda%28t%29*N
On Mon, Jul 11, 2022 at 12:59:53PM -0400, Peter Todd via bitcoin-dev wrote:
> Give me an example of an *actual* inflation rate you expect to see, given a
> disaster of a given magnitude.
All I was doing was saying your proof is incorrect (or, rather, relies
on a highly unrealistic assumption), since I hadn't seen anybody else
point that out already.
But even if the proof were correct, I don't think it provides a useful
mechanism (since there's no reason to think miners gaining all the coins
lost in a year will be sufficient for anything), and I don't really
think the "security budget" framework (ie, that the percentage of total
supply given to miners each year is what's important for security)
you're implicitly relying on is particularly meaningful.
So no, not particularly interested in diving into it any deeper.
Cheers,
aj
next prev parent reply other threads:[~2022-07-11 23:57 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
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 [this message]
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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