Quote from: bspus on August 13, 2018, 05:06:53 PM

Quote from: gwestcot on August 12, 2018, 11:03:41 PM

Of course the block reward algorithm affects people's actions as far as speculation. You make a deflationary currency and of course people speculate on it rather than using it for its intended purpose. You need to do away with block halving, total supply sup, and lastly come up with an algo that is moderately adaptive but avoids the terrible feedback loops that have happened in the past. This is really the number one issue in crypto right now. The next is of course scaling but at the moment scaling solutions are available but Bitcoin maximalists are unwilling to change and thus the movement has been hijacked. You say that you don't want crypto to act as a currency but will you still be saying that after all major fiat currencies fail. It will happen and it is only a matter of time and math.

If by scaling solutions at the moment you mean blocksize increase, I certainly disagree and thank god bitcoin devs see it this way. But there is no way for anyone to convince the other. Thankfully, we can all choose the coin that fits our ideals best.

I actually wouldn't mind a perpetual increase in supply so long as it was just slow enough to cover the inevitable lost forever coins by those idiots that lose the keys or (I expect this to be a problem in the future) hodlers that simply die without sharing their keys.
I said it's not a problem presently because blovk reward is still decent.

If I expected fiat currencies to fail, I would probably expect crypto to replace them, but I don't expect them to fail. They serve the states and governments very well. They will continue to use them and bleed the people off their savings.

Well, Lightining Network will be a catastrophe so I would welcome a blocksize increase far sooner than I would welcome a more centralized solution that also requires people who run gateways to adhere to MSB regulations.

Well this sentiment has almost no basis in economics at all. Literally people only speculate because of block halving, total supply cap, and the thought that more people will be interested later down the line. I have an algorithm for block reward that is far better. It is both front loaded and fairly dynamic in nature. By front loaded I mean it allows more currency introduction early on in a chain but then it balances out a few years down the line to try and simply offset demand. It isn't perfect but that is by design since if you try to make it perfect it will open it up to bad feedback loops and black swan events. But I 100% have confidence that it is better than no counterweight at all like in the case of Bitcoin.

Well not so fast. Fiat currencies fail all the time and I'm pretty sure the government never wants them to. The problem is that the currency is tied to debt and debt levels are spiraling out of control in most countries but particularly western nations. Fiat currencies will definitely fail within the next 10-15 years due to them being tied to debt and thus inevitable hyperinflation.