原始文献 / 邮件 / Bitcoin P2P e-cash paper
Bitcoin P2P e-cash paper
Cryptography Mailing List · 2008-11-08 18:54:38 UTC
Ray Dillinger：
> 这种"货币"每年约有35%的通胀率
> 因为计算机每年提速就是这么多
> ……35%的通胀率几乎是技术注定的
硬件提速问题已有处理："为了补偿硬件速度的提升，以及长期运行节点意愿的变化，工作量证明难度由一个移动平均值决定，目标是每小时平均区块数。如果区块生成过快，难度就会上调。"
随着计算机提速、用于创造比特币的总算力增加，难度将按比例上调，以保持新币总产量恒定。因此，未来每年将创造多少新比特币是预先可知的。
新币的产生意味着货币供应量按计划增长，但这不一定导致通胀。如果货币供应量的增速与使用人数的增速相同，价格将保持稳定。如果供应增速不及需求，就会出现通缩，货币的早期持有者会看到其价值上涨。
币总要以某种方式初始分配出去，恒定速率似乎是最好的方案。
Satoshi Nakamoto
---------------------------------------------------------------------
The Cryptography Mailing List
Unsubscribe by sending "unsubscribe cryptography" to majordomo at metzdowd.com
英文原文
Ray Dillinger:
> the "currency" is inflationary at about 35%
> as that's how much faster computers get annually
> ... the inflation rate of 35% is almost guaranteed
> by the technology
Increasing hardware speed is handled: "To compensate for increasing hardware speed and varying interest in running nodes over time, the proof-of-work difficulty is determined by a moving average targeting an average number of blocks per hour. If they're generated too fast, the difficulty increases."
As computers get faster and the total computing power applied to creating bitcoins increases, the difficulty increases proportionally to keep the total new production constant. Thus, it is known in advance how many new bitcoins will be created every year in the future.
The fact that new coins are produced means the money supply increases by a planned amount, but this does not necessarily result in inflation. If the supply of money increases at the same rate that the number of people using it increases, prices remain stable. If it does not increase as fast as demand, there will be deflation and early holders of money will see its value increase.
Coins have to get initially distributed somehow, and a constant rate seems like the best formula.
Satoshi Nakamoto
---------------------------------------------------------------------
The Cryptography Mailing List
Unsubscribe by sending "unsubscribe cryptography" to majordomo at metzdowd.com