Replying to Avatar Hanshan

A couple of things here

One is that you and other miners are also "devaluing" Bitcoin every 10 minutes.

If you are actually serious about the prospect you would demand a hardfork to eliminate any supply increase.

Second is that "21 million only"is just a meme, it's not good monetary policy.

A simple look at the history of gold value shows that a hard cap is not necessary for good money.

They're extremely good reasons to NOT have a permanently deflationary economy.

Not to mention that Bitcoin foists paying for network security off on people who actually transact with it, Incentivizing hodling (hoarding). A Game Theory consequence which is already obvious today.

And Monero Supply is not infinite. It's guaranteed by mathematics just like Bitcoin is. You don't know how it's works and that's fine, But maybe just dial it back.
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Khanto Blackhand 3mo ago

The Bitcoin supply is fixed and predictable. So we don't have to worry about inflation or it getting out if hand because of the hard-cap. Bitcoin has Satoshi's as it's smallest denomination and its becoming the standard for everyday transactions. If we calculate how many satoshis are there in the 21 million supply it would be 2.1 Quadrillion sats. More than enough for people to use Bitcoin as a everyday currency. Having no supply cap makes it inflationary just like fiat. (Unless fees are burnt in moneto reducing how much moneto there is compared to issuance) also moneto supply isn't fixed there's a tail emission that increases its supply, therefore adding inflation reducing its value.

So Bitcoin is being spent and fees are getting paid. If people slowly stop mining that's where the difficulty adjustment kicks in and helps provide an extra layer of security for those people that want to still secure the network. There will always be people mining Bitcoin for the freedom it provides.

Also try to tell me where I am wrong in this. I have deep knowledge on this topic and I love friendly debates on these things.

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Hanshan 3mo ago

the monero supply is also fixed and predictable, theres no difference except you trust Bitcoins supply issuance to stop sometime after you're dead.

also if you think supply inflation prevents something from being hard money, youll have to explain why gold has been a solid SoV for 4000yrs.

moneros annual supply inflation is ½-⅓ golds.

the problem with a hard cap isn't that there aren't enough monetary units. the problem is that you incentivize SoV as much as possible and disincentivize MoE as much as possible. everyone defers spending when their money appreciates in buying power (without them doing anything.)

meanwhile people who actually USE Bitcoin for purchases pay the network security fees.

this is an extremely bad incentive structure.

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Khanto Blackhand 3mo ago

Monetos supply is infinite not fixed because of its tail emissions. Bitcoin has a fixed supply that is predictable and know there isn't going to be inflation.

The only reason why gold stood as the main currency of the world for a while was because it was the only portable option before the invention of fiat by the Chinese. Even then Gold still has more value than moneto as you can melt it for jewelry and parts for electronics. Bitcoin has its value from being hard money without and fears of a inflating supply and its strong security assurances.

People actually use Bitcoin for everyday spending as its my only currency I use and spend and save. I know many people use it. There's businesses that accept it for example nostr:nprofile1qqswp94gnm4epqsgjkndl4lnd8krzdj5u4mzuppdtxksdymkty63g7gpp4mhxue69uhkummn9ekx7mqpzpmhxue69uhkummnw3ezumrpdejqw3z3ce nostr:nprofile1qqsfnnh6v3dspqtnwv3e46aed5k3nypyfx2wtet92ekg9szt3hr9k4qp8pmhxue69uhkc6t8dp6xu6twvuhxyetwvd5x7erjdanxvtnrdakj7mn0wd68ycmvd9jkuap0v9cxjtmkxyhhyetvv9usz8nhwden5te0dehhxarj95crxtnydaexzenpvd6x7une9ehhyecj4jdzt and nostr:nprofile1qqs2gndun24r2utk5l20tscsdprw5zttvm0qk58w8xhl2ja2kmzt7jcpvemhxue69uhkv6tvw3jhytnwdaehgu3wwa5kuef0dec82c33x5ehsmt90q6ry7p5vd5xge3hx5mksupnwym857rpvaukk6m9dvmhqer8wa6hwepsxu6rjd35v34hj6rp89ensvnj096ns0mzwfhkzerrv9ehg0t5wf6k2qg7waehxw309ahx7um5wgkkgetk9emk2mrvdaexgetj9ehx2ap05npa2h many others accept Bitcoin for their goods. Are you going to tell them that they're hallucinating the Bitcoin they received?

There is also 2.1 quadrillion satoshis the smallest unit Bitcoin. There's more than plenty for people to use and spend, you don't have to use a whole coin to spend and save in.