From mboxrd@z Thu Jan 1 00:00:00 1970 Received: from sog-mx-3.v43.ch3.sourceforge.com ([172.29.43.193] helo=mx.sourceforge.net) by sfs-ml-2.v29.ch3.sourceforge.com with esmtp (Exim 4.76) (envelope-from ) id 1XjDVF-00033U-BM for bitcoin-development@lists.sourceforge.net; Tue, 28 Oct 2014 20:36:29 +0000 Received-SPF: pass (sog-mx-3.v43.ch3.sourceforge.com: domain of gmail.com designates 209.85.223.173 as permitted sender) client-ip=209.85.223.173; envelope-from=gmaxwell@gmail.com; helo=mail-ie0-f173.google.com; Received: from mail-ie0-f173.google.com ([209.85.223.173]) by sog-mx-3.v43.ch3.sourceforge.com with esmtps (TLSv1:RC4-SHA:128) (Exim 4.76) id 1XjDVE-0003Bv-5E for bitcoin-development@lists.sourceforge.net; Tue, 28 Oct 2014 20:36:29 +0000 Received: by mail-ie0-f173.google.com with SMTP id tr6so1574550ieb.4 for ; Tue, 28 Oct 2014 13:36:22 -0700 (PDT) MIME-Version: 1.0 X-Received: by 10.107.11.80 with SMTP id v77mr5245168ioi.76.1414528582213; Tue, 28 Oct 2014 13:36:22 -0700 (PDT) Received: by 10.107.159.3 with HTTP; Tue, 28 Oct 2014 13:36:22 -0700 (PDT) In-Reply-To: References: Date: Tue, 28 Oct 2014 20:36:22 +0000 Message-ID: From: Gregory Maxwell To: Bitcoin Development Content-Type: text/plain; charset=UTF-8 X-Spam-Score: -1.6 (-) X-Spam-Report: Spam Filtering performed by mx.sourceforge.net. See http://spamassassin.org/tag/ for more details. -1.5 SPF_CHECK_PASS SPF reports sender host as permitted sender for sender-domain 0.0 FREEMAIL_FROM Sender email is commonly abused enduser mail provider (gmaxwell[at]gmail.com) -0.0 SPF_PASS SPF: sender matches SPF record -0.1 DKIM_VALID_AU Message has a valid DKIM or DK signature from author's domain 0.1 DKIM_SIGNED Message has a DKIM or DK signature, not necessarily valid -0.1 DKIM_VALID Message has at least one valid DKIM or DK signature X-Headers-End: 1XjDVE-0003Bv-5E Subject: [Bitcoin-development] Fwd: death by halving X-BeenThere: bitcoin-development@lists.sourceforge.net X-Mailman-Version: 2.1.9 Precedence: list List-Id: List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Tue, 28 Oct 2014 20:36:29 -0000 On Tue, Oct 28, 2014 at 8:17 PM, Ferdinando M. Ametrano wrote: > > On Oct 25, 2014 9:19 PM, "Gavin Andresen" wrote: > > We had a halving, and it was a non-event. > > Is there some reason to believe next time will be different? > > In november 2008 bitcoin was a much younger ecosystem, Or very old, indeed, if you are using unsigned arithmetic. [...] > and the halving happened during a quite stable positive price trend Hardly, http://bitcoincharts.com/charts/mtgoxUSD#rg60zczsg2012-10-01zeg2012-12-01ztgSzm1g10zm2g25zv > Moreover, halving is not strictly necessary to respect the spirit of Nakamoto's monetary rule It isn't, but many people have performed planning around the current behaviour. The current behaviour has also not shown itself to be problematic (and we've actually experienced its largest effect already without incident), and there are arguable benefits like encouraging investment in mining infrastructure. This thread is, in my opinion, a waste of time. It's yet again another perennial bikeshedding proposal brought up many times since at least 2011, suggesting random changes for non-existing(/not-yet-existing) issues. There is a lot more complexity to the system than the subsidy schedule.