Tail Emissions
summary
Claim: fees-only rewards are unstable and favor reorg-capable miners; a fixed per-block tail emission converges to replacing lost coins and stabilizes supply. Evidence: Monero already adds a perpetual tail emission (~0.3% nominal), and simple math + the leaky-bucket model shows convergence to the lost-coin rate (example 0.1% loss). Alternative: demurrage taxes coin-age and can be implemented as a soft-fork compatible pooled-output rule to smooth miner revenue. Potential tradeoffs: lightning and UX impacts.
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chapters (11)
- 0:00Introduction
- 3:57Bitcoin tail emission basics
- 7:29Monero’s tail emission
- 10:26Bitcoin tail emission feasibility
- 13:18Demurrage vs tail emission
- 16:49Q&A
- 20:00Religious attachment to 21 million and Bitcoin’s future
- 21:26Demurrage soft fork
- 24:55Fee pooling limits
- 26:18Lightning Network impact
- 27:04Summary
