Yet Bitcoin's emission is quite unlike that of gold. Every next generation gets to mine 32x less bitcoin. Over gold's millennia long history, every generation mines a roughly similar amount of gold as the next.
Yet Bitcoin's emission is quite unlike that of gold. Every next generation gets to mine 32x less bitcoin. Over gold's millennia long history, every generation mines a roughly similar amount of gold as the next.
It’s true that he doubled down, but I also suspect he anticipated what actually happened, which was that the price of bitcoin spurred custom hardware, which ramped up the capacity to mine coins past what Moore’s Law would have predicted. It also ruined PC gaming for the lower- and middle-middle class for a few years.
Whether that’s prescient or just an artifact of a logarithmic drop off in the available key space is anyone’s guess. I don’t fix problems I don’t see as problems that often, and most of my peers are even worse.
What do you mean by that? The key space is either 2^160 for hashed keys, or about 2^256 for unhashed or Schnorr keys. The number of keys appearing on-chain is not limited by emission but by the block size limit of 4M weight units (each new key contributing a few hundred weight units).
Keys discovered versus keys remaining is a logarithmic curve.
(more precisely you might be saying how it happens that which I'm asking if that's what you're saying happens.... I mean I'm asking my question because I'm a bit confounded)
Murdered Quote Warning: One might as well seal paper money inside bottles and bury them in disused coal mines for people to dig up.
Bitcoin is exactly that. Even better you don't even need to bury the stuff.