21 FOR LIFEZ!
Discussion
the retarded thing about the opponents to tail emission is that it doesn't change the supply
if i take a thing, and cut it in half, what is left? half
if i cut the half in half, what is left? a quarter
if i cut the quarter in half, what is left? an eighth
this is what tail emission means, not cutting it in half, but actually that instead of all the supply being out by 2140 or whatever, that's when the last 0.00000001% of it will continue to divide and by then with tail emission the precision would be 128 bits or maybe bigger
not only is it mathematically wrong to say it changes the supply, it is also extremely ridiculous to worry about the fact that 0.0000000000001% of the supply will continue to emit tiny nanosats long after we are all dead, it doesn't even affect now, it just removes the 4 year cycle of sudden halving of supply
the formula to interpolate the halving curve is precise, also, it's not going to change the supply, this is integer math
if you are against tail emission it's because you don't understand what it means
also, what kind of a computer programmer doesn't understand fucking percentages and integrals?
Have you read Peter Todd's approach to tail emissions?
It's not cutting a thing in half. Thats basically what we have now converging on 2.1 quadrillion.
Peter Todd has been advocating for years for a transition to a fixed block reward. The goal being to ensure miners continue to have incentive to mine blocks, and that this would in theory pseudo replace lost coins over time under the guise that coins go up is better than coins goto 0.
Check out the article on his website petertodd.org
That transition will happen over a very long time and humans can adjust accordingly. No need for tail emissions my opinion. But this also shows that humans can't stop tinkering. If it ends Bitcoin in 100 years that fine too. Nothing lasts forever and from the ashes something new be born.
I always think that if humanity hasn't solved its energy issues and didn't achieve clean and almost free energy in a hundred years from now, something very bad has happened to our civilization and bitcoin block rewards are the least of our worries.
Abundance and clean energy doesn't work in a fiat world. That's why unless the money is fixed, we won't get there.
if "tail emission" means changing the total supply forever then i'm against it but i thought it just meant smoothing the emission curve so that every block can have a slight reduction or more reduction depending on where it is relative to genesis.
it's not about abundance and clean energy, it's about how whoever prints the money has an unfair advantage against those who use it, and destroys the potential for saving and the austrian model of credit (which is far more limited and doesn't have any bearing on issuance).
without saving, the people who print money dictate the things that get developed and that is a minority and that amounts to a ruling class.
Most of the bitcoin has already been mined now. True scarcity without the cantillionaires is coming. It is going to be epic to behold.
yeah, it changes the equation because those who were patient and saved have a different mindset than the spoiled brats born into privilege and instant gratuitous gratification. they invest in things that have long term benefits for everyone, increasing the common wealth faster.
precisely what communism promises but literally causes the opposite effect (because they abolish money altogether) - and they do it because they know that it makes them kings and pushes everyone down into serfdom.
Yeah, also You can only spend bitcoin once, so once it is spent, it's spent. Those wanting to borrow against it will learn this at some point they being scammed.
i would call that "flat emission" and it's what monaro does and look at its supply/price curve. flat as a pancake, nobody buys monero to save it.
peter todd is retarded and a liar and a piece of fucking shit.
Tail emissions are great on Monero. But not on Bitcoin