{"type":"rich","version":"1.0","author_name":"npub1jzv8hadmmqgttce5q9dn69j4msczrwdw898t3fetwyt64gess4ssttsze5","author_url":"https://nostr.ae/npub1jzv8hadmmqgttce5q9dn69j4msczrwdw898t3fetwyt64gess4ssttsze5","provider_name":"njump","provider_url":"https://nostr.ae","html":"📅 Original date posted:2022-07-09\n📝 Original message:\u003e New blog post:\n\u003e https://petertodd.org/2022/surprisingly-tail-emission-is-not-inflationary\n\nA Tail Emission is best described as disinflationary; the yearly\nsupply inflation steadily decreases toward zero.\n\n\u003e Dogecoin also has a fixed reward\n\nIt started out with random rewards up to 1M doge per block, with the\nmaximum halving every 100K blocks, until the fixed reward of 10K doge\nkicked in at height 600K.\n\n\u003e If an existing coin decides to implement tail emission as a means to fund security, choosing an appropriate emission rate is simple: decide on the maximum amount of inflation you are willing to have in the worst case, and set the tail emission accordingly.\n\nAny coin without a premine starts with infinite inflation. Bitcoin in\nits first 4 years had yearly inflation rates of inf, 100%, 50%, and\n33%. So deciding on a maximum amount of inflation is deciding on a\npremine.\n\nWhile in the long term, a capped supply doesn't meaningfully differ\nfrom un uncapped supply [1], the 21M limit is central to Bitcoin's\nidentity, and removing this limit results in something that can no\nlonger be called Bitcoin.\n\n[1] https://john-tromp.medium.com/a-case-for-using-soft-total-supply-1169a188d153"}