Author: aliashraf.btc At protonmail 2022-08-19 17:21:03
Published on: 2022-08-19T17:21:03+00:00
The issue of Bitcoin's block subsidy algorithm has been discussed thoroughly on forums, and there are concerns about the policy being 'a cheap marketing trick', rather than a decent strategic monetary system design. While the enthusiasm surrounding Bitcoin has compensated for the 'bizarre, upside-down inflation policy' thus far, newcomers have been paying the price to lucky first-runners. The halving and the hard cap put both adoption and security at risk, so the author is deeply concerned about a future with low block subsidy. However, it is not considered an engineering practice to speculate about the security of a system that people recommend to friends and family, and there needs to be proof of security and ease of adaptation. It is our job to take care of the deficiencies in the system and settle the basics. While the 21M cap, halving, and generally Bitcoin consensus is not subject to change, there may be ways to help the system without aggressive intervention, either by smart tweaks or by supporting it using other systems.
Updated on: 2023-06-15T22:35:06.129562+00:00