<div dir="ltr">It is not a violation of the trust of those holding the currency. Many people bought Bitcoin in the hopes that it's value in the relation of other currencies will increase, not because there's a fixed money supply. The majority of people using Bitcoin as a currency in exchange for real goods are using the exchanges.<div>
<br></div><div> My proposal will still allow for 4.9% semi-weekly variations in the price of Bitcoin, allowing for it to appreciate 11,800% per year.</div></div><div class="gmail_extra"><br><br><div class="gmail_quote">On Mon, Dec 9, 2013 at 2:11 PM, Andrew Poelstra <span dir="ltr"><<a href="mailto:asp11@sfu.ca" target="_blank">asp11@sfu.ca</a>></span> wrote:<br>
<blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex"><div class="im">On Mon, Dec 09, 2013 at 02:01:07PM -0800, Ryan Carboni wrote:<br>
> This is no doubt probably a very controversial Bitcoin Improvement Proposal<br>
> and is also a very rough draft of one.<br>
><br>
<br>
</div>Ryan, you can stop there already because any change to the inflation<br>
formula (supposing such a thing is even possible, which it's not)<br>
would be a violation of the trust of those holding the currency, who<br>
obtained it while believing that its inflation algorithm would not<br>
change.<br>
<span class="HOEnZb"><font color="#888888"><br>
--<br>
Andrew Poelstra<br>
Email: apoelstra at <a href="http://wpsoftware.net" target="_blank">wpsoftware.net</a><br>
Web: <a href="http://www.wpsoftware.net/andrew" target="_blank">http://www.wpsoftware.net/andrew</a><br>
<br>
"If they had taught a class on how to be the kind of citizen Dick Cheney<br>
worries about, I would have finished high school." --Edward Snowden<br>
<br>
</font></span></blockquote></div><br></div>