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| author | jk_14 <jk_14@op.pl> | 2022-08-17 15:43:16 +0200 |
|---|---|---|
| committer | bitcoindev <bitcoindev@gnusha.org> | 2022-08-17 13:43:27 +0000 |
| commit | 99f37c1d58d1ff4aa0caf7eaf0ce3057319ae223 (patch) | |
| tree | df86736d67e6bff7ff343f955f47356186e5a240 | |
| parent | 9c98adae562ad56787c130f08221f233699aadfe (diff) | |
| download | pi-bitcoindev-99f37c1d58d1ff4aa0caf7eaf0ce3057319ae223.tar.gz pi-bitcoindev-99f37c1d58d1ff4aa0caf7eaf0ce3057319ae223.zip | |
Re: [bitcoin-dev] Surprisingly, Tail Emission Is Not Inflationary
| -rw-r--r-- | c9/bfd6fc7428db02b87ef3cd887a68d9ced62d49 | 137 |
1 files changed, 137 insertions, 0 deletions
diff --git a/c9/bfd6fc7428db02b87ef3cd887a68d9ced62d49 b/c9/bfd6fc7428db02b87ef3cd887a68d9ced62d49 new file mode 100644 index 000000000..2102af931 --- /dev/null +++ b/c9/bfd6fc7428db02b87ef3cd887a68d9ced62d49 @@ -0,0 +1,137 @@ +Return-Path: <jk_14@op.pl> +Received: from smtp1.osuosl.org (smtp1.osuosl.org [IPv6:2605:bc80:3010::138]) + by lists.linuxfoundation.org (Postfix) with ESMTP id 17FD0C002D + for <bitcoin-dev@lists.linuxfoundation.org>; + Wed, 17 Aug 2022 13:43:27 +0000 (UTC) +Received: from localhost (localhost [127.0.0.1]) + by smtp1.osuosl.org (Postfix) with ESMTP id E1E6083455 + for <bitcoin-dev@lists.linuxfoundation.org>; + Wed, 17 Aug 2022 13:43:26 +0000 (UTC) +DKIM-Filter: OpenDKIM Filter v2.11.0 smtp1.osuosl.org E1E6083455 +Authentication-Results: smtp1.osuosl.org; + dkim=pass (1024-bit key) header.d=op.pl header.i=@op.pl header.a=rsa-sha256 + header.s=2011 header.b=jt5ZRUuG +X-Virus-Scanned: amavisd-new at osuosl.org +X-Spam-Flag: NO +X-Spam-Score: -2.1 +X-Spam-Level: +X-Spam-Status: No, score=-2.1 tagged_above=-999 required=5 + tests=[BAYES_00=-1.9, DKIM_SIGNED=0.1, DKIM_VALID=-0.1, + DKIM_VALID_AU=-0.1, DKIM_VALID_EF=-0.1, SPF_HELO_NONE=0.001, + SPF_PASS=-0.001] autolearn=ham autolearn_force=no +Received: from smtp1.osuosl.org ([127.0.0.1]) + by localhost (smtp1.osuosl.org [127.0.0.1]) (amavisd-new, port 10024) + with ESMTP id hnoOv9bC31-z + for <bitcoin-dev@lists.linuxfoundation.org>; + Wed, 17 Aug 2022 13:43:25 +0000 (UTC) +X-Greylist: from auto-whitelisted by SQLgrey-1.8.0 +DKIM-Filter: OpenDKIM Filter v2.11.0 smtp1.osuosl.org 862E3832E7 +Received: from smtpo95.poczta.onet.pl (smtpo95.poczta.onet.pl + [213.180.149.148]) + by smtp1.osuosl.org (Postfix) with ESMTPS id 862E3832E7 + for <bitcoin-dev@lists.linuxfoundation.org>; + Wed, 17 Aug 2022 13:43:25 +0000 (UTC) +Received: from pmq6v.m5r2.onet (pmq6v.m5r2.onet [10.174.33.77]) + by smtp.poczta.onet.pl (Onet) with ESMTP id 4M78Nj3C2Nzlhcm0; + Wed, 17 Aug 2022 15:43:17 +0200 (CEST) +DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=op.pl; s=2011; + t=1660743797; bh=orkCMOAEAvMDTQ+uRMiNHTfNbO6Tlh1pbo+ffVgflzM=; + h=From:Cc:To:Date:Subject:From; + b=jt5ZRUuGaD+omp3cl9jbCTQCgphb/1eqtMxJQqKCHBUfTkAt7VQybW3hhDTqNXxdF + 5MhEKa4udFi6WsgSEocBnW4I1oN7zmswP315rx3R6UVRRAsTB+7Ozm0vPUdA36dWa9 + 8YCRsxdXh/sqlsRIbPK6pmJ6F7Vc9OTznVGo9pGI= +Content-Type: text/plain; charset="utf-8" +MIME-Version: 1.0 +Content-Transfer-Encoding: quoted-printable +Received: from [89.64.64.124] by pmq6v.m5r2.onet via HTTP id ; + Wed, 17 Aug 2022 15:43:17 +0200 +From: jk_14@op.pl +X-Priority: 3 +To: Erik Aronesty <erik@q32.com>, + Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org> +Date: Wed, 17 Aug 2022 15:43:16 +0200 +Message-Id: <73828407-38b211dc3a9d78d44c9b9fb6c2b60b85@pmq6v.m5r2.onet> +X-Mailer: onet.poczta +X-Onet-PMQ: <jk_144@onet.pl>;89.64.64.124;PL;3 +X-ONET_PL-MDA-SEGREGATION: 0 +X-Mailman-Approved-At: Wed, 17 Aug 2022 14:31:15 +0000 +Subject: Re: [bitcoin-dev] Surprisingly, Tail Emission Is Not Inflationary +X-BeenThere: bitcoin-dev@lists.linuxfoundation.org +X-Mailman-Version: 2.1.15 +Precedence: list +List-Id: Bitcoin Protocol Discussion <bitcoin-dev.lists.linuxfoundation.org> +List-Unsubscribe: <https://lists.linuxfoundation.org/mailman/options/bitcoin-dev>, + <mailto:bitcoin-dev-request@lists.linuxfoundation.org?subject=unsubscribe> +List-Archive: <http://lists.linuxfoundation.org/pipermail/bitcoin-dev/> +List-Post: <mailto:bitcoin-dev@lists.linuxfoundation.org> +List-Help: <mailto:bitcoin-dev-request@lists.linuxfoundation.org?subject=help> +List-Subscribe: <https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev>, + <mailto:bitcoin-dev-request@lists.linuxfoundation.org?subject=subscribe> +X-List-Received-Date: Wed, 17 Aug 2022 13:43:27 -0000 + + +On one scale you puts the Trust to the large stakeholders (why we avoid ple= +nty of small stakeholders, btw), +and on the other side I put game theory and well defined Prisoner's Dilemma. + +Again: large stakeholders WILL NOT incentivised to mine, they will have the= + hundreds excuses why not to switch-on Antminers back. +That's how it simply works. Bitcoin would fail miserably if Satoshi was ba= +sed his concept mainly on existence of idealists. + +If we will observe lack of hashrate recovery four years after some halving = +and still unprepared like today +- means the trust in large stakeholders was a very costly mistake. + + +Superiority of Proof of Work against Proof of Stake has been discussed enou= +gh either +The overall conclusion with what I fully agree is: swapping PoW to PoS - w= +ould be a degradation. +You can stop talking about degradation to proof of stake, but just: degrada= +tion. + +Degradation of Bitcoin, due to human greed. + +Now you mine and you have an INSTANT gratification. +Then you will mine and it will cost you real money, but simple switch - and= + you have a DELAYED, maybe some day in the future, maybe only a tiny - puni= +shment. +And The Punishment Won't Be Tiny. + + +"If the pain after hitting the hand with a hammer would appear after a mont= +h - people would notoriously walk with swollen fingers" +100% (^2) + +Regards +Jaroslaw + + + +W dniu 2022-08-17 13:10:38 u=C5=BCytkownik Erik Aronesty <erik@q32.com> nap= +isa=C5=82: + +> you can stop talking about=C2=A0 the "security of the system" as meaningf= +ul +> this has been discussed enough +> if fees are not sufficient, clearance times increase and large stakeholde= +rs are incentivised to mine=C2=A0 +> in the best case, fees are sufficient +> in the worst case, it degrades to proof of stake +> i'm sure you can see how that's fine either=C2=A0way + + + +_______________________________________________ +bitcoin-dev mailing list +bitcoin-dev@lists.linuxfoundation.org +https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev + + +_______________________________________________ +bitcoin-dev mailing list +bitcoin-dev@lists.linuxfoundation.org +https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev + + |