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Brian Armstrong also just posted this: https://medium.com/@barmstrong/what-happened-at-the-satoshi-roundtable-6c11a10d8cdf https://medium.com/@barmstrong/what-h
by pbreit 11y ago
Brian Armstrong also just posted this:
https://medium.com/@barmstrong/what-happened-at-the-satoshi-roundtable-6c11a10d8cdf https://medium.com/@barmstrong/what-happened-at-the-satoshi-...
Bitcoin is starting to look like "decentralization" at its worst. Pretty much the only asset ever in existence that hasn't fallen in price due to uncertainty.
Regarding "the halving", how in the world could you design in a doubling of expenses on some arbitrary date in the future? That didn't make any sense to me.
- ikeboy 11y agoIt's not a doubling of expenses, it's a halfing of reward. The reward is meant to go to zero eventually, and halves every four years.
- dllthomas 11y agoA halving of reward per unit of expense is a doubling of expenses per unit reward. That said, it is neither - it is a halving of extra reward on top of transaction fees.
- eordano 11y agoAlso, "reward" is not appropriate. It has been historically referred to as "miner subsidy": it was intended to be a way to make mining attractive for early adopters.
- deleted 11y ago[deleted]