0 sats \ 2 replies \ @jk_14 15 Dec 2022 \ parent \ on: Long-term Bitcoin security (avoiding the death spiral) bitcoin
other people are making on this post as to why network security is not at risk are convincing me a little more than your arguments
but all that above is strictly about the network security! i.e. how to avoid spiral of death in network security (and tail emission is only one of possible counter-measures)
how do we decide what is the right amount of tail emission
The moment we will see the first "destructive halving" - i.e. network difficulty was not able to recover during long four years after given halving - is right moment to switch-off halvings completely, and that's best possible method to set level of annual inflation rate. Best - because empirically done, by saturation of Bitcoin system at global scale.
Things destructive to the Bitcoin should be eliminated (no matter from where they are). So destructive halvings as well. I predict we will see it probably in 10 years, just around 0.1% annual inflation rate, reached "naturally". ( #107033 )
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21 sats \ 1 reply \ @mynym OP 15 Dec 2022
switching off halvings doesn't seem to be an unreasonable method if it turns out that tail emission is an absolute must. after all this discussion, my prediction remains that it won't be. but whether it is or isn't, i look forward to an sharing an inevitable orange future with my you friend
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20 sats \ 0 replies \ @jk_14 15 Dec 2022
my point is: let's be mentally ready if it turns out that tail emission is an absolute must that should be enough to mitigate this risk
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