That concern of mine was before you mentioned spreading tx fees over many blocks. However, I think it still differs from classical demurrage in the sense that it doesn't apply to coins that have left circulation entirely (e.g. lost private keys), so it would (like Bitcoin today) inevitably lead to monetary deflation rather than stable prices.
@harding How does classical demurrage (like Freicoin) apply to stale coins?
@stevenroose I though in Freicoin, the implicit input value of a coin was depreciated by the demurrage rate. E.g. for 5% annual demurrage, a 1.00 freicoin UTXO would be worth 0.95 freicoin if spent after a year. That allows giving miners a constant subsidy equal to total_supply * demurrage_rate / blocks_per_year.
@harding Yeah my demurrage idea would also do that, right? But instead of being worth 5% less, you're just forced to spend those 5% to the mining fee.
I wonder if ever in a point in time the #Bitcoin ecosystem decides that the fixed cap doesn't provide sufficient security, Bitcoin will be fixed or one of the existing coins will be suddenly adopted.
I mean basically every monetary policy exists in some coin. And HF-ing Bitcoin won't ever work.
@stevenroose You could make it a soft fork by forcing all UTXOs created after the fork date to use a new segwit version that allows any UTXO to be spent by anyone after x years. E.g., force people to either spend their UTXOs within 10 years or lose them to someone else. (This requires some care to not incentivize miners to block transactions and so claim the value themselves.)
The social network of the future: No ads, no corporate surveillance, ethical design, and decentralization! Own your data with Mastodon!