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The last BTC mined will be 2140, but the decay is exponential. The reward will halve in about 3 years, and it is likely to halve again 4 years after that, and so on.


But price appreciation is also exponential


That can’t stay that way, at least not in real terms (taking inflation into account)


Although that would arguably put Bitcoin in the same deflation trap that led to the collapse of the gold standard.

A money supply that grows more slowly than the economy that rests on top of it just might be the stuff that Malthusian dreams are made of.


The gold standard was the least of the Bretton Woods Era problems.

I also wouldn't call this new fiat regime with rising property prices and stagnant wages as a "net win" over Bretton-Woods, the gold standard was probably the only thing keeping the federal spending under control, and real wage growth up.


Price appreciation has to stop at some point. I doubt the price will rise to $10M after the 2028 halving so miners will be under substantial pressure by that time.




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