Now he spends his days arguing for inflation. He is an enemy of Bitcoin.
He mentioned that he sold 50% of his bitcoins to be less leveraged / exposed to bitcoin swings. He said he still has a lot of faith in bitcoin:
Do I still think Bitcoin will succeed in the long run? Yes, but I'm a lot less sure of it than I used to be. I'm also very skeptical that any of the above will be implemented without a clear failure of the system happening first - there's just too many people, miners, developers, merchants, etc. whose heads are in the sand, or even for that matter, actively making the problem worse. If that failure happens it's quite likely that the Bitcoin price will drop to essentially nothing - not a good way to start a few months of work fixing the problem when my expenses are denominated in Canadian dollars. I hope I'm on the wrong side of history here, but I'm a cautious guy and selling a significant chunk of bitcoins is just playing it safe; I'm not rich.
Diminished, not gone. Remember I sold just 50% of my savings - I still have another five figures worth of incentives.
Equally, it's good to be in a position where you're not worried about paying the rent for awhile, keeps you objective about what you're doing.
So I don't think he's an enemy of bitcoin. He just has controversial opinions. (But I only know about tail emission being one.)
I think we need thinkers like him who explore areas without caring what others think.
reply
Bitcoin's enemy is the one who is too short-sighted to see what is necessary for Bitcoin survival. And Peter Todd is the most far-sighted developer, that's clear.
Free market is controversial. Lack of free market is non-controversial.
That's the real state of our minds...
reply
Succumbing to fee market FUD and advocating to remove the 21M cap is the opposite of far-sighted imo.
reply
You are enemy of Bitcoin. Full stop.
reply
lol, ok. I'm just slavishly devoted to 21M is all. Peter Todd advocates removing the 21M cap. That's an attack on bitcoin. Go use monero if you want tail emissions.
reply
thanks to such enemies of free market (and thus: Bitcoin) like you - me (or: my kids) will have no choice than to dump (and not 50% but) 80% of my BTC stash for gold - when the Bitcoin network difficulty is not able to recover during 4 years after some future halving... and re-buy order of magnitude more BTC - just before the emergency patch is applied what is inevitable scenario, haha
reply
Good news! There's already a bitcoin fork with demurrage: http://freico.in
You can go all in on that if you think demurrage is a good idea. And it's cheap too, only $0.0008067 per coin! (seems like the free market has spoken)
reply
That was 8 years ago. These days he regularly argues for removing the 21M cap with tail emissions.
reply
There is no free market between active (on-chain) users and pasive users (stakeholders) in post-subsidy era. And something must be done to induce a free market there.
These days he regularly argues for demurrage - where 21M cap is: untouched. (even in this little thing you are wrong...)
reply
Enemy of Bitcoin .... such a bold statement
reply