From: Alfred Hodler <alfred_hodler@protonmail•com>
To: Bitcoin Protocol Discussion <bitcoin-dev@lists•linuxfoundation.org>
Subject: Re: [bitcoin-dev] Surprisingly, Tail Emission Is Not Inflationary
Date: Wed, 13 Jul 2022 14:06:29 +0000 [thread overview]
Message-ID: <9VHlQ8Fr39zTWR6tg4K3QgZpSgVSDmhsR2QUoY08wN6-yYyKrFqSQqyjYYQP6uFIMYWlphS99QXjRYVhodO7yGBttzDGtAUcAgicEp__IaU=@protonmail.com> (raw)
In-Reply-To: <Ysl4t9K8lfxRSsNM@petertodd.org>
Rather than get bogged down discussing the technical details of how such a change could even take place, I'll go ahead and say that modifying the 21M cap is a supremely reckless idea. Your mathematical proof aside, the idea rests on the unprovable premise that people will keep losing coins indefinitely. You could also argue that once Bitcoin is valuable or widespread enough, it'll incentivize the creation of superior storage, custody and inheritance solutions. One could also write a bunch of "proofs" to support that, but it doesn't mean much when the core idea remains purely in the hypothetical sphere.
One of Bitcoin's value propositions is having a fixed supply cap with a predictable issuance curve. People bought into Bitcoin because it promises to NOT be fiat and because it promises NOT to do what central banks are doing. The moment you start messing with that, it'll invite people to try to tinker with the protocol whenever "security" concerns demand it. Once a powerful enough adversary sees that Overton window moving, they'll probably throw everything they have at this particular weakness in an attempt to subvert the protocol further.
Alfred
next prev parent reply other threads:[~2022-07-13 14:06 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
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 [this message]
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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