Satoshi's mistakebitcoinmagazine.com/technical/satoshis-mistake?utm_source=carrot&utm_medium=partner&utm_campaign=carrot_share
974 sats \ 3 comments \ @kurszusz 6 Dec 2023 bitcoin
write
preview
related posts
11 sats \ 0 replies \ @Zepasta 6 Dec 2023
The mistake mentioned is related to the 4 years halvings, he says it "shocks" the market, and a better way would be to decrease block rewards ever so slightly with every new block mined.
Thoughts?
reply
0 sats \ 0 replies \ @5centvalentine 6 Dec 2023
Necessity is the mother of innovation
Everyone gets bitcoin at the exchange rate they deserve. I don't use the word "price" because most who adopt bitcoin will not pay fiat for it. They will have their wealth wiped out and will need to earn it. I see no mistake at all.
reply
0 sats \ 0 replies \ @TNStacker 6 Dec 2023
To me, the following reads like the writer is saying the entire supply is halved, and as a result we have volatility.
This choice of supply schedule has consequences. Because the supply is suddenly reduced by 50% overnight, it shocks the market. As demand remains unchanged, the price adjusts upward, as Bitcoin is now twice as scarce. The rapid price surge leads to a hype cycle, drawing media attention, attracting new adopters.
Is that intentionally misleading language to bolster their criticism? Am I overthinking this? Are readers to know he means new additional supply?
reply