1JPnUQemmpGxDx5oraAqMU7ASdQ4XmoX8n ·
Meaning, in the analogy/rhetoric on set-in-stone... the "protocol" -- what exactly is being ref'd. If the stone is the words of Satoshi himself... and the 21M supply isn't in the white paper but in his postings -- and that's considered a verbal contract...
1JPnUQemmpGxDx5oraAqMU7ASdQ4XmoX8n ·
"Total circulation will be 21,000,000 coins."
Any further detailed definition of circulation?
Sorry for the rather basic questions, just re-addressing fundamentals.
Overall, I presume the economic incentives of maintaining "the protocol" will push...
19gAUDU4VQoVuLgeL9pwTepPsZonqvALhv (678) ·
Not sure what you asking.
MMT is a bit of a confused theory imo and I'm not sure you can apply it to bitcoin
19gAUDU4VQoVuLgeL9pwTepPsZonqvALhv (678) ·
bitcoin is hard austrian concept. elastic supply on demand cant work. That's why gold was dropped.
1JPnUQemmpGxDx5oraAqMU7ASdQ4XmoX8n ·
Copy that. I'm familiar w/ MMT - just was reading her book as she's the current face of it. Just listening to CSW emphasize his roll as the "issuer" made me think of parallels -- as MMT rests on the idea that Gov'ts can print as they "issue" the currency.
1JPnUQemmpGxDx5oraAqMU7ASdQ4XmoX8n ·
This plus Gilder's ruminations -- just had me asking myself:
How stoney is that protocol actually?
How is that 21M cap actually enforced?
Again, I think the answer is that if an attempt were made to violate the cap - the miners / processors would reject.
19gAUDU4VQoVuLgeL9pwTepPsZonqvALhv (678) ·
users will dump too
I get Gilders point on the thing that money is a measuring stick not something valuable in itself
if bitcoin gets to that point than it gets wierd for me