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Hanshan

the point is that gold remains hard money *despite* supply inflation.

its ridiculous for any serious person to insist a supply cap is a requirement for "hard money"

a hard cap is a tradeoff.

like tail emission is a tradeoff.

neither one are "superior" they have different incentive structures.

hard cap incentivizes SoV

tail emission incentivizes MoE.

there IS an unavoidable game theory problem with only part of the network paying for security costs on Bitcoin.

and as far as "winner takes all", the world is a lot more complicated than that.

insisting you know how things will turn out is just out and out hubris.

The Guy That Looked Into It 1y ago

Gold is hard money, only relatively to fiat and other IOUs and easily inflatable commodities with large supply. In relation to Bitcoin it is not as hard which is reflected in BTC/Gold exchange rates.

Tail emission (uncapped supply inflation) does not incentivize MoE. This is a fiat Keynisian notion that does not reflect the reality.

I recommend everyone reading Bitcoin Standard Chapter 10 by nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak on Money and particularly the part about "Why One Money?".

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Hanshan 1y ago

yeah bro

youre whole viewpoint is just

"i read the Bitcoin Standard this one time"

Saife is just this guy, you know?

not a prophet.

The Guy That Looked Into It 1y ago

It's not about Saife, it is about the logically sound point he is making. You can see through out history that the hardest asset always outperformed closest competitors, hence winner takes all.

Hanshan 1y ago

bro

we use US dollars right now.

that statement is just obviously false.

maybe rethink the complexity of modern economics?

The Guy That Looked Into It 1y ago

People being forced to use USD, does not make it a proper money or a hard asset. Not a single asset can compete in hardness and suitability of being money to Bitcoin. Here is what the market thinks (USD, Monero, Gold) , and we are only at the infancy of Bitcoin...

Hanshan 1y ago

So the hardest asset does NOT always outperform all competitors.

its a simplistic way of looking at the world that appeals to Bitcoin maxis confirmation bias.

The Guy That Looked Into It 1y ago

What is your case for it? Until Bitcoin came around gold as the hardest assets available outperformed other alternatives.

Hanshan 1y ago

Also

Making Spenders the only ones who pay for network security fees obviously incentivizes hodling

The entire Community goes on and on about the superiority of NOT using Bitcoin

and you're going to tell me that MoE is not being discouraged by a hard cap?

get real

The Guy That Looked Into It 1y ago

MoE is definitely not discouraged, if anyone actually needs to make a transaction they are welcome to do so while paying a free market determined fee for it. If anything it encourages lower time preference and more sound financial habits.