so what would that logic look like with a power law? it turns out my dad was actually interested in bitcoin and wanted to know what the logic for the halving was the other day. i just plugged it into AI and found the following function. the last line is the "bitwise right shift"-- nSubsidy >>= halvings; new CS/math term for me. Perhaps also the source of the Bitwise ETF branding? ------------ int64_t GetBlockSubsidy(int nHeight, const Consensus::Params& consensusParams) { int halvings = nHeight / consensusParams.nSubsidyHalvingInterval; // Initial subsidy is 50 BTC (in satoshis: 50 * 100,000,000) int64_t nSubsidy = 50 * COIN; // Right-shift subsidy by number of halvings nSubsidy >>= halvings; return nSubsidy; } ---------------- in a universe that had a power law subsidy shift, maybe bitcoin could have attracted CD-ladder investors instead of gamblers and men and women of loose morals and questionable habits. kinda like jesus going back in time and spending more time among the religious elite Sanhedrin and less among the fishermen and gadabouts.

Replies (3)

Jesus spending time with the sinners and weirdos and plebs was a feature, not a bug. It's the same with Bitcoin. What is the purpose of giving it perceived legitimacy in the eyes of fiat credentialists?
Right. The only way to get it wrong is to not increase the precision in a hundred years, and that itself wouldn't be a tragedy unless the purchasing power of a single sat at that time is as much as the purchasing power of several bitcoin today.