Received: from sog-mx-3.v43.ch3.sourceforge.com ([172.29.43.193] helo=mx.sourceforge.net) by sfs-ml-2.v29.ch3.sourceforge.com with esmtp (Exim 4.76) (envelope-from ) id 1Vq9Et-0000zl-1U for bitcoin-development@lists.sourceforge.net; Mon, 09 Dec 2013 22:23:43 +0000 Received-SPF: pass (sog-mx-3.v43.ch3.sourceforge.com: domain of gmail.com designates 74.125.82.179 as permitted sender) client-ip=74.125.82.179; envelope-from=ryacko@gmail.com; helo=mail-we0-f179.google.com; Received: from mail-we0-f179.google.com ([74.125.82.179]) by sog-mx-3.v43.ch3.sourceforge.com with esmtps (TLSv1:RC4-SHA:128) (Exim 4.76) id 1Vq9Es-0008Ai-1q for bitcoin-development@lists.sourceforge.net; Mon, 09 Dec 2013 22:23:43 +0000 Received: by mail-we0-f179.google.com with SMTP id q59so4114888wes.38 for ; Mon, 09 Dec 2013 14:23:35 -0800 (PST) MIME-Version: 1.0 X-Received: by 10.180.188.175 with SMTP id gb15mr11213779wic.50.1386627815854; Mon, 09 Dec 2013 14:23:35 -0800 (PST) Sender: ryacko@gmail.com Received: by 10.194.156.194 with HTTP; Mon, 9 Dec 2013 14:23:35 -0800 (PST) In-Reply-To: <20131209221130.GA22556@shavo.dd-wrt> References: <20131209221130.GA22556@shavo.dd-wrt> Date: Mon, 9 Dec 2013 14:23:35 -0800 X-Google-Sender-Auth: ikt8sywC8mR1hqQGAHnO46Hg1Jc Message-ID: From: Ryan Carboni To: apoelstra@wpsoftware.net Content-Type: multipart/alternative; boundary=001a11c25ef86656f704ed2172f5 X-Spam-Score: -0.6 (/) X-Spam-Report: Spam Filtering performed by mx.sourceforge.net. See http://spamassassin.org/tag/ for more details. -1.5 SPF_CHECK_PASS SPF reports sender host as permitted sender for sender-domain 0.0 FREEMAIL_FROM Sender email is commonly abused enduser mail provider (ryacko[at]gmail.com) -0.0 SPF_PASS SPF: sender matches SPF record 0.0 URIBL_BLOCKED ADMINISTRATOR NOTICE: The query to URIBL was blocked. See http://wiki.apache.org/spamassassin/DnsBlocklists#dnsbl-block for more information. [URIs: wpsoftware.net] 1.0 HTML_MESSAGE BODY: HTML included in message -0.1 DKIM_VALID_AU Message has a valid DKIM or DK signature from author's domain 0.1 DKIM_SIGNED Message has a DKIM or DK signature, not necessarily valid -0.1 DKIM_VALID Message has at least one valid DKIM or DK signature X-Headers-End: 1Vq9Es-0008Ai-1q Cc: bitcoin-development@lists.sourceforge.net Subject: Re: [Bitcoin-development] Monetary Authority for Bitcoin X-BeenThere: bitcoin-development@lists.sourceforge.net X-Mailman-Version: 2.1.9 Precedence: list List-Id: List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Mon, 09 Dec 2013 22:23:43 -0000 --001a11c25ef86656f704ed2172f5 Content-Type: text/plain; charset=ISO-8859-1 It is not a violation of the trust of those holding the currency. Many people bought Bitcoin in the hopes that it's value in the relation of other currencies will increase, not because there's a fixed money supply. The majority of people using Bitcoin as a currency in exchange for real goods are using the exchanges. My proposal will still allow for 4.9% semi-weekly variations in the price of Bitcoin, allowing for it to appreciate 11,800% per year. On Mon, Dec 9, 2013 at 2:11 PM, Andrew Poelstra wrote: > On Mon, Dec 09, 2013 at 02:01:07PM -0800, Ryan Carboni wrote: > > This is no doubt probably a very controversial Bitcoin Improvement > Proposal > > and is also a very rough draft of one. > > > > Ryan, you can stop there already because any change to the inflation > formula (supposing such a thing is even possible, which it's not) > would be a violation of the trust of those holding the currency, who > obtained it while believing that its inflation algorithm would not > change. > > -- > Andrew Poelstra > Email: apoelstra at wpsoftware.net > Web: http://www.wpsoftware.net/andrew > > "If they had taught a class on how to be the kind of citizen Dick Cheney > worries about, I would have finished high school." --Edward Snowden > > --001a11c25ef86656f704ed2172f5 Content-Type: text/html; charset=ISO-8859-1 Content-Transfer-Encoding: quoted-printable
It is not a violation of the trust of those holding the cu= rrency. Many people bought Bitcoin in the hopes that it's value in the = relation of other currencies will increase, not because there's a fixed= money supply. The majority of people using Bitcoin as a currency in exchan= ge for real goods are using the exchanges.

=A0My proposal will still allow for 4.9% semi-weekly variati= ons in the price of Bitcoin, allowing for it to appreciate 11,800% per year= .


= On Mon, Dec 9, 2013 at 2:11 PM, Andrew Poelstra <asp11@sfu.ca> wr= ote:
On Mon, Dec 09, 2013 at 02= :01:07PM -0800, Ryan Carboni wrote:
> This is no doubt probably a very controversial Bitcoin Improvement Pro= posal
> and is also a very rough draft of one.
>

Ryan, you can stop there already because any change to the inflation<= br> formula (supposing such a thing is even possible, which it's not)
would be a violation of the trust of those holding the currency, who
obtained it while believing that its inflation algorithm would not
change.

--
Andrew Poelstra
Email: apoelstra at wps= oftware.net
Web: =A0 htt= p://www.wpsoftware.net/andrew

"If they had taught a class on how to be the kind of citizen Dick Chen= ey
=A0worries about, I would have finished high school." =A0 --Edward Sno= wden


--001a11c25ef86656f704ed2172f5--