Author: ZmnSCPxj 2020-03-31 02:06:32
Published on: 2020-03-31T02:06:32+00:00
The author of the message is concerned about how miners will behave under a new ruleset. Miners benefit directly from any increase in inflation rates and ultimately decide which transactions get added to blocks. Therefore, they are likely to accept attempts to delete UTXOs that vote for lower inflation rates and create UTXOs that vote for higher inflation rates. This means that miners will strongly control the inflation rate of the coin. Additionally, as the inflation gives increased coins to miners, they will have more control over the value of the coin with which you vote. The author argues that Bitcoin has a fixed inflation rate schedule to avoid the moral hazard of having beneficiaries of higher inflation rates also being the ones who decide what the inflation rate will be.
Updated on: 2023-06-14T00:31:31.706394+00:00