Animation showing the mined supply and the historical bitcoin price, colored by the value of the block subsidy, which gets halved each epoch.Original Twitter...
You are correct on the initial model, and I wasn’t really clear.
I think there’s been a proliferation of the ledger beyond what the original design spec accounted for (exchanges) and it’s going to require an amount of horsepower to move currency at an escalating level, while also scalping more on the moves of that currency.
It’s easy to imagine a universe it’s the large holders financing the machines to avoid total collapse and propping up the ledger. What’s not is how parity comes to pass.
It’s anyone’s guess. The hanging question to me had been where the horsepower to even maintain the ledger comes from when it’s all mined.
I think transaction fees will be the driving factor (if so, fees will likely increase)
You are correct on the initial model, and I wasn’t really clear.
I think there’s been a proliferation of the ledger beyond what the original design spec accounted for (exchanges) and it’s going to require an amount of horsepower to move currency at an escalating level, while also scalping more on the moves of that currency.
It’s easy to imagine a universe it’s the large holders financing the machines to avoid total collapse and propping up the ledger. What’s not is how parity comes to pass.