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

From: Peter Todd <[email-masked]>
Date: Sun, 10 Jul 2022 13:29:51 -0400

On Sun, Jul 10, 2022 at 02:17:36PM +0000, alicexbt via bitcoin-dev wrote:
> Hi ZmnSCPxj,
> 
> 
> > Thus, we should instead prepare for a future where the block subsidy must be removed, possibly before the existing schedule removes it, in case a majority coalition of miner ever decides to censor particular transactions without community consensus.
> > Fortunately forcing the block subsidy to 0 is a softfork and thus easier to deploy.
> 
> `consensus.nSubsidyHalvingInterval` for mainnet in [chainparams.cpp][1] can be decreased to 195000. This will reduce the number of halvings from 34 to 14 and subsidy will be 0 when it becomes less than 0.01 although not sure if this will be a soft fork.

What exactly would the benefit be of going through all the political headache
of a soft fork for what I assume you are thinking would be an insignificant
change in total miner revenue?

Or do you think total transaction fees at that point would be less than
0.01BTC?

-- 
https://petertodd.org 'peter'[:-1]@petertodd.org