Meyer
· 2d
To each their own.
We have had the "a hard cap is a design flaw and creates bad incentives" debate plenty of times and it always ends up with us agreeing to disagree.
You claiming this is just lik...
What is your proficiency in Mathematics, are you well versed?
Go on YouTube and watch Peter Todd interview with WalkerAmerica “Tail emission is not inflationary”
Peter literally told Walker that to maintain network security consistently, there needs to be an incentive for miners. Bitcoin works fine today buddy but in the coming years give or take 20-30-50-100 years from now, bitcoin will have least incentive for miners to participate in the network, if there are least miners securing a proof of work network the network will more than likely fade into complete irrelevance as other crypto alternatives gain effective and consistent relevance. The only other alternative for survivabilty is going to be some sort of charity mining where people/groups or individual play kind and out of pocket by using their own resources to defend the network difficulty (this could certainly work but we have to wait and see over the coming years, I highly doubt of course but I just never know what could happen).
I’m a bitcoiner and a Monerian myself (for now anyways), and I hate to be a prick in any sense of the word, I do however think if you are proficient with some knowledge of higher degree mathematics, you are smart enough to recognise that Moneros tail emission solves the hard cap (21 million Btc, janky/ish inventives for miners problem).
Not to say bitcoin is not an awesome tool, Bitcoin is an awesome tool, and I tip my hat to Satoshi, he solved the problem the best way he knew how to with the knowledge he had at the time. I respect bitcoin and I respect bitcoiners, the problem here a lot of time is that the 21 million Btc mantra has been much of the selling point of bitcoin from day one and influencers love to harp on the 21 million coin (deflationary money thing to try to recruit more people to buy the coin).
Read between the lines, and be very observant of the market, Monero’s trajectory over the coming years will more than likely cause an upset with bitcoin maximalist, scarcity is a relative term, and the stock to flow ratio is a great model for trying to understand the scarcity of a commodity. Monero’s flow trends to zero over time but never quite touching zero, and bitcoins flow eventually reaches zero effectively nuking miners incentive which then jeopardises network security.
Not to mention aspect of privacy that bitcoin lacks on chain, most people are not happy to transact without privacy.
The other side of this punitive problem that bitcoiners recognises is that they understand that to change the hard cap 21 million Btc model they essentially have to hard fork which we all no is not a culture in current bitcoin, and I may also argue that if bitcoin was to hard fork to a tail emission model the original idea of bitcoin has died.
I do hold hope that bitcoin is crowned a public commodity reserve currency (useful as a collateral asset) but it certainly isn’t winning the electronic peer to peer cash award
#btc #xmr #monero
