It is not a violation of the trust of those holding the currency. Many people bought Bitcoin in the hopes that it's value in the relation of other currencies will increase, not because there's a fixed money supply. The majority of people using Bitcoin as a currency in exchange for real goods are using the exchanges.

 My proposal will still allow for 4.9% semi-weekly variations in the price of Bitcoin, allowing for it to appreciate 11,800% per year.


On Mon, Dec 9, 2013 at 2:11 PM, Andrew Poelstra <asp11@sfu.ca> wrote:
On Mon, Dec 09, 2013 at 02:01:07PM -0800, Ryan Carboni wrote:
> This is no doubt probably a very controversial Bitcoin Improvement Proposal
> and is also a very rough draft of one.
>

Ryan, you can stop there already because any change to the inflation
formula (supposing such a thing is even possible, which it's not)
would be a violation of the trust of those holding the currency, who
obtained it while believing that its inflation algorithm would not
change.

--
Andrew Poelstra
Email: apoelstra at wpsoftware.net
Web:   http://www.wpsoftware.net/andrew

"If they had taught a class on how to be the kind of citizen Dick Cheney
 worries about, I would have finished high school."   --Edward Snowden