From: Peter <dizzle@pointbiz•com>
To: bitcoin-dev@lists•linuxfoundation.org
Subject: Re: [bitcoin-dev] Surprisingly, Tail Emission Is Not Inflationary
Date: Tue, 16 Aug 2022 16:05:32 +0000 [thread overview]
Message-ID: <abd33vsLrsQ7z5vJjz9h1V-3iEHJW1os1HyiO6QO5PNA8kahcPZ_2BUNuU7i4gyFRT2peLu0NXNrWv5X3RGGR6cvqijishTcb1qvo3YPeSU=@pointbiz.com> (raw)
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Hi Jaroslaw,
In the Prisoner's Dilemma the prisoners cannot communicate. In Bitcoin large holders are able to communicate with each other. Also, prisoners need not make an all or nothing decision in Bitcoin. Miners can join and leave the network freely over time. You can change your decision based on the decision of others.
The Bitcoin design is such that security is volatile but the issuance of blocks is timely and evened out to a 10 minutes average even after the reward is exhausted.
The existing incentive that miners earn money for including transactions is enough to motivate human nature. Transaction initiators have an incentive to mine and run full nodes for personal interest.
>Noone will waste his renewable energy on unprofitable Antminer while he/she can sell this energy for the market price.
The law in most jurisdictions prevents the resale of spare electricity unless an expensive license is obtained (and in most cases no license is available as the government maintains a monopoly). Mining with waste electricity is reducing losses. Another incentive to motivate human nature.
Bitcoin holders can be enfranchised into any new system. So, no need for bike shedding the original design which is a Schelling Point.
Regards
Peter Kroll
pointbiz/ BTCCuracao
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next reply other threads:[~2022-08-16 16:05 UTC|newest]
Thread overview: 56+ messages / expand[flat|nested] mbox.gz Atom feed top
2022-08-16 16:05 Peter [this message]
2022-08-19 17:21 ` aliashraf.btc At protonmail
2022-08-20 15:30 ` Billy Tetrud
-- strict thread matches above, loose matches on Subject: below --
2022-08-19 5:34 vjudeu
2022-08-18 20:22 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
2022-08-17 8:54 jk_14
2022-08-15 21:46 jk_14
2022-08-17 11:10 ` Erik Aronesty
2022-07-26 20:01 jk_14
2022-07-19 18:36 Peter
2022-07-20 14:35 ` Eric Voskuil
2022-07-10 17:42 Eric Voskuil
[not found] <mailman.80287.1657405305.8511.bitcoin-dev@lists.linuxfoundation.org>
2022-07-10 7:44 ` John Tromp
2022-07-09 22:21 Peter
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 20:53 Eric Voskuil
2022-07-09 14:57 John Tromp
2022-07-09 15:13 ` Peter Todd
2022-07-11 18:44 ` Dave Scotese
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
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