I don't know about Lyn Alden, but I have been thinking about it along the lines of what increasing the money supply means. Its biases the economy towards lending. A decrease in money supply would bias the economy saving. Both if these are deviations from a neutral currency, where there is no external influence on what you should do with your money, its closer to pure information, reacting only to market forces.
This is why we call the block reward a mining subsidy, you are actually biasing the economy towards mining in an unnatural way, you are redistributing wealth from every user towards miners. This is, in a nontrivial way, wrong, but its the least wrong way to introduce a new currency that we have.
Strictly my 2 cents.
npub1aw…nyrgs
2023-03-27 20:00:05
in reply to nevent1q…62yg
Author Public Key
npub1awp3sny5rt2m54czzqfmem9m0wp505g9nrhm4xv0qgpvffj90exqvnyrgsPublished at
2023-03-27 20:00:05Event JSON
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"content": "I don't know about Lyn Alden, but I have been thinking about it along the lines of what increasing the money supply means. Its biases the economy towards lending. A decrease in money supply would bias the economy saving. Both if these are deviations from a neutral currency, where there is no external influence on what you should do with your money, its closer to pure information, reacting only to market forces.\n\nThis is why we call the block reward a mining subsidy, you are actually biasing the economy towards mining in an unnatural way, you are redistributing wealth from every user towards miners. This is, in a nontrivial way, wrong, but its the least wrong way to introduce a new currency that we have.\n\nStrictly my 2 cents.\n\n ",
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