mleku on Nostr: technically speaking the existing emission mechanism could be smoothed out without ...
technically speaking the existing emission mechanism could be smoothed out without changing the long term parameters, but it's not a neat exponential, flat percentage decay, it's some kind of power of 2 based logarithm
talking about the tail of it is pretty funny when you consider we are in the 5th epoch of halving, and there is 32
i seriously doubt that there will be the same denomination of 100M sats per bitcoin by a decade from now, the need for precision as the userbase increases is inevitable
Mises talks at some length about the difference between further increase of division of the denomination of a currency versus increasing the supply and concludes that you get a better net result in terms of incentives if you increase precision versus increasing supply (perverse fiat money spigot control problem).
i mean, lightning already has added a further 3 zeroes to the precision of bitcoin... when we reach dollar/sat parity i think everyone will agree it's time to add some bits to the denomination
talking about the tail of it is pretty funny when you consider we are in the 5th epoch of halving, and there is 32
i seriously doubt that there will be the same denomination of 100M sats per bitcoin by a decade from now, the need for precision as the userbase increases is inevitable
Mises talks at some length about the difference between further increase of division of the denomination of a currency versus increasing the supply and concludes that you get a better net result in terms of incentives if you increase precision versus increasing supply (perverse fiat money spigot control problem).
i mean, lightning already has added a further 3 zeroes to the precision of bitcoin... when we reach dollar/sat parity i think everyone will agree it's time to add some bits to the denomination