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hugohanoi's profile
Hugo Nguyen
Hugo Nguyen
Hugo Nguyen
@hugohanoi

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Hugo Nguyen

@hugohanoi

I chain, therefore I am ⛓️

Joined April 2012

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    1. Angela Walch‏ @angela_walch 30 Nov 2017

      Angela Walch Retweeted TheRustyTwit

      Insightful framing of economic eras of #Bitcoin. Spoiler - it gets more painful as you go along since the mining subsidy hides costs for a long time.https://twitter.com/rusty_twit/status/936448512446775296 …

      Angela Walch added,

      TheRustyTwit @rusty_twit
      You may disagree with how #bitcoin was designed, but you should understand it. Genuine apologies if this is discomforting news, but this needs to be part of our base knowledge. Longread. https://medium.com/@rusty_lightning/the-three-economic-eras-of-bitcoin-d43bf0cf058a …
      2 replies 6 retweets 15 likes
      Show this thread
    2. Angela Walch‏ @angela_walch 30 Nov 2017

      Seems ironic that #Bitcoin is painted as sound money because of its ultimate cap, but relies on inflationary money printing for a long time to entice users/miners to build on it.

      3 replies 2 retweets 5 likes
      Show this thread
    3. Colin Delargy‏ @cdelargy 30 Nov 2017
      Replying to @angela_walch

      Is there an alternative for emission of coins that doesn’t involve inflation? Confused.

      1 reply 0 retweets 0 likes
    4. Angela Walch‏ @angela_walch 30 Nov 2017
      Replying to @cdelargy

      Put all out at once, I guess. 21mm from get-go.

      1 reply 0 retweets 1 like
    5. Kyle Torpey‏ @kyletorpey 30 Nov 2017
      Replying to @angela_walch @cdelargy

      Would Bitcoin be where it is today if all the coins were given to Satoshi and his friends instead of mined?

      1 reply 0 retweets 4 likes
    6. Angela Walch‏ @angela_walch 30 Nov 2017
      Replying to @kyletorpey @cdelargy

      No way. But it's the inflation that built it. Bitcoin up to this point is completely reliant on inflation of the money supply.

      2 replies 0 retweets 4 likes
    7. Angela Walch‏ @angela_walch 30 Nov 2017
      Replying to @angela_walch @kyletorpey @cdelargy

      You could argue it's like a bait and switch.

      4 replies 0 retweets 3 likes
      Hugo Nguyen‏ @hugohanoi 1 Dec 2017
      Replying to @angela_walch @kyletorpey @cdelargy

      I don’t look at it as a “bait & switch”, but more like a bootstrapping mechanism. Block rewards essentially subsidize security until the price gets high enough that tx fees can take over & become the sole mining incentive (self sustainable). It’s a clever way to get things going.

      10:59 AM - 1 Dec 2017
      0 replies 0 retweets 0 likes

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