4 ms·
Bitcoin could have achieved A) through D) by simply doing away with the capped supply and the accompanying subsidy halving needed to achieve it. Just a pure lin
by tromp 5mo ago
Bitcoin could have achieved A) through D) by simply doing away with the capped supply and the accompanying subsidy halving needed to achieve it.
Just a pure linear emission [1]. That would avoid the extreme concentration of wealth on early adopters, and make it much less attractive for speculation.
To really deter speculation, one would need to actually increase subsidy over time, but that would make the emission both more arbitrary and resemble fiat.
[1] https://tromp.github.io/blog/2020/12/20/soft-supply https://tromp.github.io/blog/2020/12/20/soft-supply
- andirk 5mo agoThe feature of a deflationary currency is much better than constant money printing. But, as I have learned through light studying of currencies, a huge negative aspect is its encouragement to horde.
- npoc 5mo agoWhy is saving up negative?
- andirk 5mo agoCurrency is the most useful when it changes hands constantly. I have mattresses. You have cookies. He has milk. I buy cookies and milk. You buy milk and mattresses. He buys mattresses and cookies. That's better than all of us in a standoff because we don't want to use our currency. Horrible analogy.