this post was submitted on 02 Nov 2023
747 points (98.6% liked)
Technology
59669 readers
2830 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
First off, let me say that I am no monetary expert. Now, with that said, once something like Bitcoin hits its 21 million cap, there will never be any more Bitcoin. So wouldnt thar be deflationary due to lost coins, etc? Now in this case it can be argued this is a bad thing because miners need fees to secure the network. If there are no more coins being released to secure the network, then fees will have to make up for it, and that could drive the cost to transact up, which would be a bad thing. Something like Monero takes another route where 0.6 new Monero will always be released, but that the inflation is asymptotically 0 because that new 0.6 Monero makes up less and less of the entire supply over time. This would allow for the replacement of lost coins as well so that one coin doesn't become infinitely valuable.