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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...)
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That was 8 years ago. These days he regularly argues for removing the 21M cap with tail emissions.