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Author Topic: Ordinals and other non-monetary "use cases" as miner reward on 2140+  (Read 1315 times)
anarkiboy
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July 23, 2024, 09:34:44 PM
 #121

Bitcoin is already being bloated by bug exploitation which ordinals use and developers are still discussing if they should fix it  Cheesy
There is nothing to be fixed. Spam can only be discouraged at a transaction fee level. Remember that Monero has a dynamical block size limit, and there are no UTXO. Every time you create an output, it is indexed forever.

You should remember too that Bitcoin has no privacy and people make thousands of fake transactions (mixing) just to stay semi-private  Grin Grin Grin
How's that for a bloating ?  Cheesy
cryptosize
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Today at 12:31:30 AM
Merited by d5000 (1)
 #122

Truth be told, Big Tech cloud services (AWS, Azure etc.) have so much CPU horsepower that it is indeed possible to execute a 51% attack against Monero.

That thing is no longer possible in Bitcoin (as it was back in 2010-2011) due to ASICs (more security, at the expense of reducing decentralization a bit).

BTC vs XMR tokenomics are totally different and if you ask me, I believe the human population will experience huge deflation in the coming decades, so a tail emission is counterproductive (unless you really believe the human population will keep increasing).

It's fine to have both cryptocurrencies in the market, just like it's fine to have both Linux and OpenBSD (security-hardened UNIX by default). No need to fight over it. Smiley
d5000
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Today at 01:53:23 AM
 #123

I believe the human population will experience huge deflation in the coming decades, so a tail emission is counterproductive (unless you really believe the human population will keep increasing).
I agree with most of your post, but tail emission could be countered by the "lost coins" if it's sufficiently low, and thus I don't really think it would incide really in tokenomics, even with a reducing population or a stagnating or even gradually shrinking economy.

The beauty of a "sidechain-driven" tail emission (by merge-mining and miners getting rewarded by sidechain utility tokens) is however that the emission schedule would be much more flexible than a hard-coded tail emission. For example, if the sidechain token inflation resulted to be too high to maintain the sidechain utility tokens' value, sidechains have much lower hurdles to hardfork into a lower emission schedule than the main chain, and of course vice versa too.

This isn't that relevant for the Monero <-> Bitcoin discussion (which is pointless and borderline OT) as Monero has already had a history of hardforks and thus could hardfork again and again to lower their supply, but for Bitcoin even a single hardfork could be very difficult. Thus, the "sidechain-driven" tail emission model would be the concept least intrusive to BTC's "core value proposition", which includes its "deflationary" nature. The sidechain utility tokens' supply would not affect Bitcoin's emission schedule and its deflationary nature at all.

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