Meaning, in the analogy/rhetoric on set-in-stone... the "protocol" -- what exactly is being ref'd. If the stone is the words of Satoshi himself... and the 21M supply isn't in the white paper but in his postings -- and that's considered a verbal contract...
Post by MBC
"Total circulation will be 21,000,000 coins."
Any further detailed definition of circulation?
Sorry for the rather basic questions, just re-addressing fundamentals.
Overall, I presume the economic incentives of maintaining "the protocol" will push...
What the chain says
- Block
- 657 855
- Time
- 2020-10-21T15:46:47Z
- Signer
- 1JPnUQemmpGxDx5oraAqMU7ASdQ4XmoX8n
- App
- twetch
- Type
- post
- Content type
- text/plain
Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.
Signed by
1JPnUQemmpGxDx5oraAqMU7ASdQ4XmoX8n VerifiedReplies (5)
Not sure what you asking.
MMT is a bit of a confused theory imo and I'm not sure you can apply it to bitcoin
bitcoin is hard austrian concept. elastic supply on demand cant work. That's why gold was dropped.
Copy that. I'm familiar w/ MMT - just was reading her book as she's the current face of it. Just listening to CSW emphasize his roll as the "issuer" made me think of parallels -- as MMT rests on the idea that Gov'ts can print as they "issue" the currency.
This plus Gilder's ruminations -- just had me asking myself:
How stoney is that protocol actually?
How is that 21M cap actually enforced?
Again, I think the answer is that if an attempt were made to violate the cap - the miners / processors would reject.