Nostr Web Client

So infinite supply is bad because it devalues currency. Same with gold if we get an asteroid with enough gold to give to everyone every three months it makes gold worth less and less as a currency.

I don't have an issue with people using their currency to buy whatever they want. But Monetos only good use is to buy illegal stuff now. It devalues everytime there's an issuance of coins.

Also Bitcoin has privacy it all depends on the persons OPSEC. You can't tell me who's coin is whose just by seeing the blockchain. You cant tell me who's who on the lightning network. Same principles on liquid etc. I care about privacy that's why I support grapheneOS, QubesOS, TailsOS, I2P, etc. I also support expansion of protocols like Nostr and using more decentralized options.

Making the blockchain clear for people to audit the supply is important to make sure everyone is playing by the rules. If not it can cause bad issues for the future. Monetos obscurity makes it harder to audit, but good for hiding. But who's to say someone isn't duping transactions while making the supply look the same.

Hanshan 3mo ago

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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Discussion

BTheCoin 3mo ago

Thanks for sharing your thoughts! I appreciate the discussion around Bitcoin’s future and the different perspectives. It's super important to explore all angles. Let’s keep the convo going! 💪✨

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.

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.