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Author Topic: bitcoin production curve  (Read 1413 times)
gubi66
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September 24, 2013, 05:28:06 AM
 #1

Hi everybody,
there is a reason why the bitcoin production curve is not smooth and instead there is an halve every 4 years?

Thanks


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mezzomix
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September 24, 2013, 07:01:24 AM
 #2

I think the reason is KISS.
gmaxwell
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September 24, 2013, 02:43:33 PM
 #3

You can make a bunch of arguments either way. E.g. piecewise constant makes it easier to justify capital purchases, simplifies accounting. etc.

I think ultimately it doesn't matter much... and the geometric decline is much easier to implement without numerical precision issues gumming things up.

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DannyHamilton
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September 25, 2013, 07:34:20 PM
 #4

Hi everybody,
there is a reason why the bitcoin production curve is not smooth and instead there is an halve every 4 years?

Thanks

Since Satoshi is no longer around answering questions, any answer you get is just going to be an educated guess.

My guess?

The math is easier that way.

cp1
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September 26, 2013, 04:50:10 AM
 #5

I guess it front loads the reward to help with adoption.

Guide to armory offline install on USB key:  https://bitcointalk.org/index.php?topic=241730.0
DannyHamilton
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September 26, 2013, 04:53:11 AM
 #6

I guess it front loads the reward to help with adoption.

It doesn't really front load the reward any more than a smooth curve.

cp1
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September 26, 2013, 06:44:10 AM
 #7

It doesn't really front load the reward any more than a smooth curve.

It's not by a ton, but at the first reward halving it's generated about 25% more bitcoins than a smooth curve would have.

Guide to armory offline install on USB key:  https://bitcointalk.org/index.php?topic=241730.0
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