A Technowatermelon's Critique of Nassim Taleb's Bitcoin Blackpaper

Your comment on # 23:

> .. As time approaches infinity the value of the dollar approaches zero (bad), and the value of Bitcoin goes to infinity (also bad).

Why do you think the latter is bad?

Bitcoin going to infinity sounds more spectacular I think than it really is. Why? Because at any given point in time, it will have some fixed value that is not infinity. And some time before that, its value will likely have been a bit lower and some time later, its value will likely be a bit higher .. so the value will gradually change through time.

Such gradual changes should absolutely allow for society to move with them gracefully.

Unless there's some sudden singularity with the value of Bitcoin, which to me sounds rather unlikely, the value of Bitcoin should increase roughly at the pace at which humanity's productivity increases, right (technological deflation)?

> At some point the block reward will become 0 and the only reward miners will collect will be from transaction fees. But I don’t understand why this is a catastrophic design flaw. The mining network expands and contracts with the natural incentives that are there. What’s the problem?

Apart from the occasional spike, transaction fees are orders of magnitude lower than the current mining subsidy and do not show any upward trend over the long run [1]. The problem is that this leaves Bitcoin rather insecure and in danger of 51% attacks.

[1] https://bitinfocharts.com/comparison/bitcoin-fee_to_reward.h...

Please let me know if anything I said doesn't make sense, is wrong, or is missing. Thanks!