Post
Topic
Board Development & Technical Discussion
Re: [Megathread] Bitcoin Layer 1 Privacy - concepts, ideas, research, discussion
by
NotATether
on 31/08/2022, 07:16:46 UTC
Oh and what about 10% foundation reward shady tax, I forgot to say that before...  Tongue

The devtax was originally advertised as 10% of total supply, by 20% tax on first the 4 years which generates half of total supply.

But before those 4 years were up, they voted to extend it another 4 years, and now with the planned switch to PoS it becomes effectively 20% of total supply. So much for immutable monetary policy...

There you go. Once you introduce dev fees, it is extremely difficult to get rid of them from the protocol, due to founder's greed. Another reason why self-respecting decentralized currencies should not implement it.