Replying to Avatar Hanshan

you can just start out from genesis saying the block reward is X units per block forever.

no centralized parties necessary.

I'm not advocating for changing Bitcoin.

I'm saying Bitcoin is poorly designed.
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PiecoverBTC 5mo ago

By the way, an x number of blocks forever is a very bay design choice as the system leaks energy forever. That's like starting Bitcoin at 50 coins issuance every block without havings, well would be well over 43Million coins today, and the total market cap would be as low as an inferior crypto coin.

The misunderstanding is that more coins is more wealth, but no it's actually the opposite. Creating more coins only makes every holder poorer.

The world can function perfectly on one single bitcoin as long as a bitcoin is infinitly divisible.

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Hanshan 5mo ago

the number of monetary units has no effect on total wealth at all.

it simply represents the amount of wealth that exists.

ideally the number of units would track with human productivity and buying power per unit would remain stable.

but there's no decentralized way to do that.

and a hard cap means permanent deflationary conditions, which is a very bad design as it incentivizes hodling as much as possible.

so we pick a constant that generally tracks with historical economic growth.

it worked for gold for thousands of years.

"only 21 million" is just a meme.

and memes make bad monetarily policy.

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PiecoverBTC 5mo ago

Yes the number of units does have an effect on the total wealth study math, it's called dilution. Why do you think there's inflation? Inflation is an increase in the money supply.

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PiecoverBTC 5mo ago

That's another Keinsien nonsense argument "number of units track human activity" that also requires a central banker to dictate if they need to increase or decrease supply while stealing everyone money