From: Ryan Carboni <ryan.jc.pc@gmail•com>
To: apoelstra@wpsoftware•net
Cc: bitcoin-development@lists•sourceforge.net
Subject: Re: [Bitcoin-development] Monetary Authority for Bitcoin
Date: Mon, 9 Dec 2013 14:23:35 -0800 [thread overview]
Message-ID: <CAO7N=i0Y=sKXa=djc+8652e_0NiWLyMA9hrXyddaS+gOTu0yxQ@mail.gmail.com> (raw)
In-Reply-To: <20131209221130.GA22556@shavo.dd-wrt>
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It is not a violation of the trust of those holding the currency. Many
people bought Bitcoin in the hopes that it's value in the relation of other
currencies will increase, not because there's a fixed money supply. The
majority of people using Bitcoin as a currency in exchange for real goods
are using the exchanges.
My proposal will still allow for 4.9% semi-weekly variations in the price
of Bitcoin, allowing for it to appreciate 11,800% per year.
On Mon, Dec 9, 2013 at 2:11 PM, Andrew Poelstra <asp11@sfu•ca> wrote:
> On Mon, Dec 09, 2013 at 02:01:07PM -0800, Ryan Carboni wrote:
> > This is no doubt probably a very controversial Bitcoin Improvement
> Proposal
> > and is also a very rough draft of one.
> >
>
> Ryan, you can stop there already because any change to the inflation
> formula (supposing such a thing is even possible, which it's not)
> would be a violation of the trust of those holding the currency, who
> obtained it while believing that its inflation algorithm would not
> change.
>
> --
> Andrew Poelstra
> Email: apoelstra at wpsoftware.net
> Web: http://www.wpsoftware.net/andrew
>
> "If they had taught a class on how to be the kind of citizen Dick Cheney
> worries about, I would have finished high school." --Edward Snowden
>
>
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next prev parent reply other threads:[~2013-12-09 22:23 UTC|newest]
Thread overview: 15+ messages / expand[flat|nested] mbox.gz Atom feed top
2013-12-09 22:01 Ryan Carboni
2013-12-09 22:06 ` Gavin Andresen
2013-12-10 1:19 ` Ryan Carboni
2013-12-10 4:05 ` Rick Wesson
[not found] ` <20131209221130.GA22556@shavo.dd-wrt>
2013-12-09 22:23 ` Ryan Carboni [this message]
2013-12-09 22:57 ` Mike Caldwell
2013-12-10 8:19 ` Wladimir
2013-12-09 23:10 ` Jeff Garzik
2013-12-09 23:23 ` Jameson Lopp
2013-12-10 1:16 ` Allen Piscitello
2013-12-10 1:20 ` Ryan Carboni
2013-12-10 12:38 ` Jorge Timón
2013-12-11 0:07 ` Baz
2013-12-11 1:01 ` Jeff Garzik
2013-12-10 1:22 ` kjj
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