13 sats \ 1 reply \ @KingZing 27 Jun 2022 \ on: Are you Pro or Anti a Tailwind Inflation in Bitcoin? bitcoin
Been reading a few tweets about it from Peter Todd.
https://twitter.com/peterktodd/status/1540028889145442304
IMO if nothing is done, then we are banking on gov/big corps to do mining in the future, and with how fungibility works right now, that would be the nightmare scenario for bitcoin.
The "anti" camp (mainly NgU gang) is saying it's too far out in the future, we can wait and see, and if bitcoin isn't successful by then, it's failed already.
But I am not sure how much of that is true, a resilient network requires sustainable and ideal mining conditions too.
Miners are forward looking, we don't know how many more halvening later we would seriously need a ready to implement and agreeable proposals.
I honestly feel like there's far too little well presented, discussions between bitcoiners, with good data and reference point. It makes whoever is the loudest get the say, namely those who have a lot of followers (bitcoin core dev are definitely under appreciated in this regard)
In regard to gov/big corps keeping Bitcoin mining up.
Big corps will not be able to mine in the far future and governments will only be able to mine through deficiet spending up and until their currency doesn't work anymore in which case they'll either have their own energy sources, or bust.
This is because we're starting to see solutions for Bitcoin mining which work while being entirely unprofitable. Things like Bitcoin mining heaters to replace space heaters (the water heater idea is not looking good so far but hey maybe one day it'll work out).
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