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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
by 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 agoCompletely 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.