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Miners are contractors. They have no stake in Ethereum's long-term success unless they become ETH holders as well. Ether's price has risen exponentially. It do
by everfree 5y ago
Miners are contractors. They have no stake in Ethereum's long-term success unless they become ETH holders as well.
Ether's price has risen exponentially. It doesn't make sense (and isn't necessary) to pay miners exponentially higher amounts of money to do the same job, thus the issuance reductions.
- ineptech 5y agoMaking sense isn't equivalent to being justifiable. Imagine a FAANG telling their devs, "We're reducing your options, but that's okay because our stock price has gone up."
- everfree 5y agoI don't see any inherent moral issue with writing an employment contract that way. Of course as a developer, I would heavily discount the value of options designed to work like that - which Ethereum miners should have been doing this whole time. Software development is a pretty free market as far as labor markets go. If a developer doesn't like the terms of the contract they're offered, they can bail and work somewhere else. With Ethereum, their "Minimum Necessary Issuance" social contract has been very clear in the docs since the beginning of the project.