This is technically the case. But there's a key qualitative difference.
The issuance schedule is hard coded into the consensus rules implemented by all compatible software. It's an exponential (binary) decay function referred to colloquially as the "halvening," (I preferred the term "hardening" as it's easier to pronounce and reflects the benefit rather than simply calling out an implementation detail).
Every 216,000 blocks (four years, give are take some variance on a Poisson distribution) the reward gets cut in half. The exponential of the divisor is incremented.
So, sometime next April the block mining reward, the issuance rate, will go from 6.25₿ to 3.125₿ and annualized monetary inflation will drop to less than the U.S. Fed target. It will be much lower than real monetary inflation for any fiat currency.
What's the current annual increase global gold supply, as a percentage of total known reserves?
https://g.co/bard/share/42c4894b48e6
Answer Guy / JimD
npub1tr…pe2z6
2023-12-03 21:00:47
in reply to nevent1q…xvv9
Author Public Key
npub1trhp4evegd6sgavspfytt2d6j20s0duxqpxvpkrs8lje67tfdrqs8pe2z6Published at
2023-12-03 21:00:47Event JSON
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"content": "This is technically the case. But there's a key qualitative difference.\n\nThe issuance schedule is hard coded into the consensus rules implemented by all compatible software. It's an exponential (binary) decay function referred to colloquially as the \"halvening,\" (I preferred the term \"hardening\" as it's easier to pronounce and reflects the benefit rather than simply calling out an implementation detail).\n\nEvery 216,000 blocks (four years, give are take some variance on a Poisson distribution) the reward gets cut in half. The exponential of the divisor is incremented.\n\nSo, sometime next April the block mining reward, the issuance rate, will go from 6.25₿ to 3.125₿ and annualized monetary inflation will drop to less than the U.S. Fed target. It will be much lower than real monetary inflation for any fiat currency.\n\nWhat's the current annual increase global gold supply, as a percentage of total known reserves?\n\nhttps://g.co/bard/share/42c4894b48e6",
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