Why is this the second post about pokemon cards?
The tail emissions is a complex topic. It's not as cut and dry as you may think. And the debate over having it or not will be settled in 150 years when Bitcoin stops emitting bitcoins and we see if the network can maintain security when it stops paying miners.
Also even a small tail emissions would be less inflationary than gold. And waaay less than fiat. Because the amount emitting is always smaller and smaller compared to the total amount..
Additionally it's not inflationary if it simply replaces lost coins.
Even the printing of the US dollar has to do this. Print dollars at a rate that replaces old or lost dollars... Of course we know they go beyond this mandate.
_Good Morning_ ☕ 📖 🌞
`Cryptodynamic Principles`
- **Cryptodynamics**: Term for Bitcoin's fundamental principles, distinguishing it from other technologies.
- **Definition**: Combines cryptography with the study of forces securing Bitcoin transactions.
- **Principles**:
- **Human Security**: Based on economically rational human actions.
- **Risk Sharing**: Distributes risk among participants.
- **Energy Sinking**: Uses energy to secure against censorship.
- **Power Regulating**: Balances network power.
- **Interdependence**: These principles are mutually dependent for Bitcoin's security.
- **Cryptodynamic Security**: Essential for a technology to be considered Bitcoin; absence disqualifies it.
- **Violations**: Permissioned blockchains, pure PoS, and subsidy-reliant systems fail these principles
**Cryptoeconomics by [Erik Voskuil](https://github.com/evoskuil).**
*The book can be found on [GitHub](https://github.com/libbitcoin/libbitcoin-system/wiki/Cryptoeconomics).*
The rest of the summarized chapters are at https://expatriotic.me
Meanwhile people move to monero because trade-offs aren't required...
Yet on Bitcoin all I see is this trade-offs mantra... And people onboarded to KYCed and custodial solutions...
Never saw a mute option in DM tab in nostr:nprofile1qqs24yz8xftq8kkdf7q5yzf4v7tn2ek78v0zp2y427mj3sa7f34ggjcpzamhxue69uhhv6t5daezumn0wd68yvfwvdhk6tcppemhxue69uhkummn9ekx7mp0qyg8wumn8ghj7mn0wd68ytnddakj703s8dt... Only mute/block for people
That's custodial. I am the only custodian of my money. That's a hard red line friend.
And presumably you're fine that the world of Bitcoin has devolved into a realm of "KYCed and custodial solutions are fine" 🥲
I see monero users as holding down the fort when it comes to circular economy and "digital cash" and privacy as a number one goal versus NGU/investing mentality...
I see a lot of bitcoiners losing their way in that regard...
Think of it this way. You could become a bitcoiner today without understanding it or even holding it...
That's not possible with monero as it's deplatformed. You can only use it if you custody it yourself. Those users are the real cypherpunks now... Bitcoiners are soft
I'm so glad you are a precog and know that the massive mining infrastructure will be satisfied with fees when bitcoins stops being issued.
IIRC fees rn are a microscopic percentage (1%) of what miners make and by November, 95% of the 21 million bitcoins will have been distributed already.
Having a tail emission is also good for something called replacement. The concept that as time goes on, bitcoins will become unspendable. A tail emissions would not even "inflate" the supply if it matched displacement of burnt or lost coins. Think of a mechanism that would help the actual economic amount of bitcoins to not indefinitely fall at the same time that the value is rising. Not to mention that it provides a stable income (that is actually deminishing over time as the emissions will continue to be a smaller and smaller percentage of the overall amount of monero in circulation). If the tail emission is 1 monero, that 1 monero gets smaller and smaller as a reward over time as the total amount of monero grows...
tldr; Satoshi is not God. He was not perfect. Bitcoin isn't a discovery it's a synthesis of preexisting technology and it needed to be refined after launch. Unfortunately we're at a point where even as problems become apparent it will become increasingly difficult to fix them through consensus changes to the protocol. So IF the lack of a tail emission becomes a burden or misjudgement or causes severe economic or security trade-offs when the last of the 21 million bitcoins are emitted, there's not a lot we'll be able to do to rectify or remedy it.
I was skeptical about it as well (tail emissions). I recommend listening to anything Monero related on The Watchman Privacy podcast. It's a gem.
Would you ever consider taking #monero?
But I guess all of nostr is kind of permanent in a sense... But at least something clientside
nostr:nprofile1qqs2vrneurk665gq6a2rke572y7mc8ppwr5wnd60mw8fwxharc8xsycpz4mhxue69uhkummnw3ezummcw3ezuer9wchsz9mhwden5te0wfjkccte9ehx7um5wghxyctwvshsz9thwden5te0wfjkccte9ejxzmt4wvhxjme0vl44wp would be cool if you answered on Bitcoin Brief 👀
Permanent DMs seems like horrible UX
How do I delete my DMs with nostr or turn it off... I have DMs from an age ago and can't see how to delete... Wish I could delete the entire portion of the app or hide from view.
#asknostr
You say that payments over 150k are likely to fail and $600 is too much for LN...
You've also stated that Kanzan's very basic set-up "isn't good enough"
And you people wonder why we say monero is better...
This kind of shit is what pushes people to using custodial lightning... And at that point, just use monero IMO. How is that difficult to understand?
Lol. We both use GOS and iphone... Don't ask dumb questions... I use GOS because it's better... End of story...
I'm not going to be baited into enumerating how... Because my autistic self will do it, and it's a waste of my time