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by gruez 1863 days ago
>(barring extraordinary consensus-making)

But changing the block reward schedule is "extraordinary consensus-making"?
1 comments
skybrian 1863 days ago
Yes, because the way they set it up, it will never happen. Miners would have to vote for their own revenue to drop faster.

If people holding Bitcoin got to vote then maybe they wouldn’t choose to give miners $1.5 billion a month in rewards?

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gruez 1863 days ago
> Yes, because the way they set it up, it will never happen. Miners would have to vote for their own revenue to drop faster.

Miners follow the users, not the other way around. We saw this with the failed segwit2x fork, which had 80% miner support but still failed.

>If people holding Bitcoin got to vote then maybe they wouldn’t choose to give miners $1.5 billion a month in rewards?

Maybe because they think a 1.75% inflation rate is worth it to secure the network?

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skybrian 1863 days ago
Well, they called it off. Who knows what would have happened?

Sure, when the market goes up a lot, maybe a 1.75% fee doesn't seem so bad. It's still 10x Google's electricity usage for a simple consensus algorithm.

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