4 ms·

Capped supply is overrated anyway [1]. [1] https://john-tromp.medium.com/a-case-for-using-soft-total-supply-1169a188d153 https://john-tromp.medium.com/a-case-f

• kurthr 2y ago
  It depends on whether your goal is a deflationary currency that gives outsized rewards to early adopters.
  • tromp 2y ago
    It's not just the deflationary ones. With one exception, all cryptocurrencies give outsized rewards in early years. E.g. block rewards 20x higher in the first year for Dogecoin. Or 40% of all (soft) supply in the first year for Monero.
    • kurthr 2y ago
      Completely agree. The fine article discusses the attack issues with most PoW. The problem is that even the threat of such attack makes success more likely. I don't know that there aren't other issues, but it seems PoS at least has a less obvious failure mode (if you need short term control of $80B ~25% rather than $30M/day or <3% for bitcoin). That could frankly even be a profitable short play.
• OutOfHere 2y ago
  Removing the cap is a solution, but not necessarily a preferred solution. For one, it is not guaranteed that mining will even continue if the rewards are positive but insufficient to cover the expenses of mining. Secondly, I shudder at the thought of burning fossil fuels in perpetuity to mine bitcoin.