{"type":"rich","version":"1.0","author_name":"npub1m230cem2yh3mtdzkg32qhj73uytgkyg5ylxsu083n3tpjnajxx4qqa2np2","author_url":"https://nostr.ae/npub1m230cem2yh3mtdzkg32qhj73uytgkyg5ylxsu083n3tpjnajxx4qqa2np2","provider_name":"njump","provider_url":"https://nostr.ae","html":"📅 Original date posted:2016-03-02\n📝 Original message:On Wed, Mar 02, 2016 at 11:01:36AM -0800, Eric Voskuil via bitcoin-dev wrote:\n\u003e \u003e A 6 month investment with 3 months on the high subsidy and 3 months on low subsidy would not be made…\n\u003e \n\u003e  \n\u003e \n\u003e Yes, this is the essential point. All capital investments are made based on expectations of future returns. To the extent that futures are perfectly knowable, they can be perfectly factored in. This is why inflation in Bitcoin is not a tax, it’s a cost. These step functions are made continuous by their predictability, removing that predictability will make them -- unpredictable.\n\nYou know, I do agree with you.\n\nBut see, this is one of the reasons why we keep reminding people that\nstrictly speaking a hardfork *is* an altcoin, and the altcoin can change\nany rule currently in Bitcoin.\n\nIt'd be perfectly reasonable to create an altcoin with a 22-million-coin\nlimit and an inflation schedule that had smooth, rather than abrupt,\ndrops. It'd also be reasonable to make that altcoin start with the same\nUTXO set as Bitcoin as a means of initial coin distribution.\n\nIf miners choose to start mining that altcoin en-mass on the halving,\nall the more power to them. It's our choice whether or not we buy those\ncoins. We may choose not to, but if 95% of the hashing power decides to\ngo mine something different we have to accept that under our current\nchosen rules confirmations might take a long time.\n\n\nOf course, personally I agree with Gregory Maxwell: this is all fairly\nunlikely to happen, so the discussion is academic. But we'll see.\n\n-- \nhttps://petertodd.org 'peter'[:-1]@petertodd.org\n000000000000000004d430e1daab776bc1c194589b0326924220faa00efc50cf\n-------------- next part --------------\nA non-text attachment was scrubbed...\nName: signature.asc\nType: application/pgp-signature\nSize: 650 bytes\nDesc: Digital signature\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20160302/dc039e04/attachment-0001.sig\u003e"}