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From: Eric Voskuil <eric@voskuil.org>
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Date: Sat, 9 Jul 2022 08:24:51 -0700
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References: <YsmbdMlt/KnvRs3U@petertodd.org>
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To: Peter Todd <pete@petertodd.org>
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Cc: Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] Surprisingly, Tail Emission Is Not Inflationary
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To clarify, price inflation is not caused by market production. Attributing t=
he observed lack of inflation (eg fee %) to loss is an assumed relation.
Even if the amount of loss was known (which it is not), there remains an ass=
umption in the correlation of non-lost coins to price. Demand determines pri=
ce, not the amount of something in existence, hence the folly of S2F (1/mone=
tary-inflation).
e
> On Jul 9, 2022, at 08:15, Peter Todd <pete@petertodd.org> wrote:
>=20
> =EF=BB=BFOn Sat, Jul 09, 2022 at 07:26:22AM -0700, Eric Voskuil wrote:
>>> Due to lost coins, a tail emission/fixed reward actually results in a st=
able money supply. Not an (monetarily) inflationary supply.
>>=20
>> This observation is not a proof of lost coins, that is an assumption.
>=20
> To be clear, are you claiming that there is no proof that coins are lost?
>=20
> --=20
> https://petertodd.org 'peter'[:-1]@petertodd.org
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