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

From: naman naman <namanhd@gmail•com>
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: Sat, 9 Jul 2022 21:43:49 +0400	[thread overview]
Message-ID: <CA+SxJWAyKg-Hc4cYOkMrzXqer5jEbNcJ2f04BWfbyQ78bysZXg@mail.gmail.com> (raw)
In-Reply-To: <YsmfTubgqua0FHR0@petertodd.org>

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Hi,

This approach raises the obvious question : If someone hasn't had access to
their coins in a long time (yrs, decades, however you want to define it) -
and they wish to access/move them after such a time - isn't your proposal
simply taking away their ability to do so? Some might call it : stealing
their coins.

How does one conclusively prove that "lost" coins are "lost forever"?

Regards,
thenoblebot

On Sat, 9 Jul, 2022, 7:31 pm Peter Todd via bitcoin-dev, <
bitcoin-dev@lists•linuxfoundation.org> 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.
>
> --
> https://petertodd.org 'peter'[:-1]@petertodd.org
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