/biz/ - Business & Finance

Because the social narrative is falling apart

>On the Instability of Bitcoin Without the Block Reward
https://www.cs.princeton.edu/~arvindn/publications/mining_CCS.pdf
Princeton university

>Beyond the doomsday
economics of “proof-of work” in cryptocurrencies
Monetary and Economic Department

https://www.bis.org/publ/work765.pdf

"Second, the transaction market cannot generate an adequate level of
“mining” income via fees as users free-ride on the fees of other transactions in a block and in the
subsequent blockchain. Instead, newly minted bitcoins, known as block rewards, have made up the bulk
of mining income to date. Looking ahead, these two limitations imply that liquidity is set to fall dramatically
as these block rewards are phased out. Simple calculations suggest that once block rewards are zero, it
could take months before a Bitcoin payment is final, unless new technologies are deployed to speed up
payment finality. Second-layer solutions such as the Lightning Network might help, but the only
fundamental remedy would be to depart from proof-of-work, which would probably require some form
of social coordination or institutionalisation."

>Written by phd´s in computer science and economics. Bitcoiners can’t refute this fud, lol. These academic papers prove that proof of work will not work longterm.
Another weakness is the lack of on chain governance, which results in huge governance and coordination problems, and limits innovation.


https://medium.com/@johnblocke/r-bitcoin-censorship-revisited-58d5b1bdcd64

>On the Instability of Bitcoin Without the Block Reward
https://www.cs.princeton.edu/~arvindn/publications/mining_CCS.pdf
Princeton university

>Beyond the doomsday
economics of “proof-of work” in cryptocurrencies
Monetary and Economic Department

https://www.bis.org/publ/work765.pdf

"Second, the transaction market cannot generate an adequate level of
“mining” income via fees as users free-ride on the fees of other transactions in a block and in the
subsequent blockchain. Instead, newly minted bitcoins, known as block rewards, have made up the bulk
of mining income to date. Looking ahead, these two limitations imply that liquidity is set to fall dramatically
as these block rewards are phased out. Simple calculations suggest that once block rewards are zero, it
could take months before a Bitcoin payment is final, unless new technologies are deployed to speed up
payment finality. Second-layer solutions such as the Lightning Network might help, but the only
fundamental remedy would be to depart from proof-of-work, which would probably require some form
of social coordination or institutionalisation."

>Written by phd´s in computer science and economics. Bitcoiners can’t refute this fud, lol. These academic papers prove that proof of work will not work longterm.
Another weakness is the lack of on chain governance, which results in huge governance and coordination problems, and limits innovation.

>On the Instability of Bitcoin Without the Block Reward
https://www.cs.princeton.edu/~arvindn/publications/mining_CCS.pdf
Princeton university

>Beyond the doomsday
economics of “proof-of work” in cryptocurrencies
Monetary and Economic Department

https://www.bis.org/publ/work765.pdf

"Second, the transaction market cannot generate an adequate level of
“mining” income via fees as users free-ride on the fees of other transactions in a block and in the
subsequent blockchain. Instead, newly minted bitcoins, known as block rewards, have made up the bulk
of mining income to date. Looking ahead, these two limitations imply that liquidity is set to fall dramatically
as these block rewards are phased out. Simple calculations suggest that once block rewards are zero, it
could take months before a Bitcoin payment is final, unless new technologies are deployed to speed up
payment finality. Second-layer solutions such as the Lightning Network might help, but the only
fundamental remedy would be to depart from proof-of-work, which would probably require some form
of social coordination or institutionalisation."

>Written by phd´s in computer science and economics. Bitcoiners can’t refute this fud, lol. These academic papers prove that proof of work will not work longterm.
Another weakness is the lack of on chain governance, which results in huge governance and coordination problems, and limits innovation.

20k was clearly the top, sorry you guys didnt sell

What do you guys think