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Constrained currency supply is definitely a problem. It rewards the early adopters by many orders of magnitude, making Bitcoin look more like a Ponzi than a rea
by 127 8y ago
Constrained currency supply is definitely a problem. It rewards the early adopters by many orders of magnitude, making Bitcoin look more like a Ponzi than a real currency.
Constant issuance for eternity would have been a much better solution. For example 1 BTC per minute, for an eternity. Rewards early adopters because low price, but still doesn't restrict the use of the technology as a form of money as it's not a constantly diminishing pool, but has reasonable tail emission, possibly reaching an equilibrium, unlike Bitcoin.
No doubt there will be a big fight about this in the future.
- jerguismi 8y agoThere are actually lot of cryptocurrencies with issuance for eternity: dogecoin, grin comes to mind at least. The inflation parameters are the easiest to change, if for Bitcoin those are a problem, some other cryptocurrency with better parameters can take over. The market will decide, as no one forces anyone to use specific cryptocurrency, there is pretty much free competition.
- millettjon 8y agoExactly! We can all learn from multiple parallel experiments in progress and we have choice!
- tromp 8y agoI wouldn't say there are a lot. Among pure PoW coins I only know of Dogecoin, Monero, and Grin. Of those, Dogecoin and Monero have tail rewards at 1% and 1.7% (respectively) of initial rewards, while Grin has an eternal emission of 1 Grin per second. Kind of shocking how it took more than 10 years for the simplest possible emission to be tried...