You can apply this same argument against fixed supply. And it’s correct. Supply (fixed or decreasing) alone doesn’t dictate value. It reinforces it. Something else has to drive value and demand first.
you start fixed supply and do your best to make it work with fixed supply. if all 100s of avenues have been exhausted and are unable to make it work you move to fixed reward (still disinflationary). due to very multivariable nature it can’t be “proven” until we reach that point.
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Yeah i'm not sure that's the best approach to anything in life (economics, software development, game theory, etc). It amounts to hopium, and fixing something once it breaks, as opposed to research/science/academica. What you're describing is a religion.
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its truly ironic that an Ethereum investor is using the word "hopium" to denigrate BTC
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It's not ironic. The number 1 and 2 reasons you prop up Bitcoin are its security and its fixed supply, which are both highly dependent on its ability to secure itself on the current inflation schedule, which is completely arbitrary. Don't compare it to Eth for a moment.
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your speculation regarding bitcoin’s inability to do so are no less speculative as my speculation about its ability to do so
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First of all, the burden of proof that it works are on you as you go around pitching Bitcoin as an investment to anyone. Secondly: http://randomwalker.info/publications/mining_CCS.pdf … Thirdly: Intuitively, how will it be secure if you won't pay the miners/security guards?
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It's a valid approach to start w/ a fixed final supply and monitor the situation and if proves non-viable change it. But that's not the narrative being sold.
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There are reasonable Q's around security w/ zero inflation so personally I think it's worth having those discussions but I understand that such discussions are uncomfortable and markets don't like uncertainty.
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I take issue more w/ the fact that supply/issuance impact both protocol security and related game theory so any narrative around monetary economics alone is incomplete.
End of conversation
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