3 ms·

The answer is easy and has always been the same: The amount will be what we have all collectively decided is the right amount to keep the system alive and secur

by casi18 5y ago

The answer is easy and has always been the same: The amount will be what we have all collectively decided is the right amount to keep the system alive and secure. Minimum Viable Issuance. The only certainty in life is change. Saying "we will have x amount on date y" isn't helpful for developing coordination tools that will actually last into the future. Isn't it much better to have a system where we can say "this is how issuance will respond to these different possible futures".

ur-whale 5y ago
>The only certainty in life is change. Thank you for the platitude. And then, there's Bitcoin with its perfectly predictable supply curve, which flatly derails your argument.
- bhaak 5y ago
  A condescending answer that totally ignores everything else that is in the comment you are replying to. You have with no word said why one would want a predictable supply curve. Ethereum's supply curve is lower than it was promised in the ICO. Just because Bitcoin has now a "perfectly predictable supply curve" that is no guarantee that it will be in the future? In a few years the block reward will be so small that the security of the chain will be reliant on the fees. A fee market has lots of negative implications, one of the worst is that you can pay miners directly to include transactions without using Bitcoin for the fees.
- nootropicat 5y ago
  Bitcoin supply curve is a lie because security from fees is too low and unstable. Bitcoin only had $548k in fees yesterday, and the trend is downwards. A fundamentally insecure chain has a negative feedback loop: no reason to pay any fees to use it, which makes it even more insecure. Bitcoin in the future is going to either be forced to introduce tail inflation in a hard fork, or start depending on secure external consensus (most likely ethereum) in a soft fork. Either option completely destroys any narrative bitcoin ever had. https://cryptofees.info/ https://cryptofees.info/

by casi18 5y ago

ur-whale 5y ago

>The only certainty in life is change. Thank you for the platitude. And then, there's Bitcoin with its perfectly predictable supply curve, which flatly derails your argument.

bhaak 5y ago
A condescending answer that totally ignores everything else that is in the comment you are replying to. You have with no word said why one would want a predictable supply curve. Ethereum's supply curve is lower than it was promised in the ICO. Just because Bitcoin has now a "perfectly predictable supply curve" that is no guarantee that it will be in the future? In a few years the block reward will be so small that the security of the chain will be reliant on the fees. A fee market has lots of negative implications, one of the worst is that you can pay miners directly to include transactions without using Bitcoin for the fees.
nootropicat 5y ago
Bitcoin supply curve is a lie because security from fees is too low and unstable. Bitcoin only had $548k in fees yesterday, and the trend is downwards. A fundamentally insecure chain has a negative feedback loop: no reason to pay any fees to use it, which makes it even more insecure. Bitcoin in the future is going to either be forced to introduce tail inflation in a hard fork, or start depending on secure external consensus (most likely ethereum) in a soft fork. Either option completely destroys any narrative bitcoin ever had. https://cryptofees.info/ https://cryptofees.info/