minimum viable issuance…
If it is the goal for ethereum to have the minimum viable issuance, doesn't it make sense to follow the only path that shows we have scientific data on?
That path being the bitcoin halving path. Three times in its history the reward has been cut and security/hash rate has gone up, not down like people think will happen. This means its still above its minimum viable issuance, you would want to see the security/hash rate flat line for at least a year after a halving to know you hit the minimum. The only way to find the minimum is by having the halving take place and see what happens.
What kind of metric are we using to see if ethereum has hit minimum viable issuance? Because it seems to me like its just a guess, not very scientific. We are just gonna have this fee burn and constantly pay validators x amount of ETH based on the number of validators and that is the minimum… for some reason.
I believe the ultimate minimum viable issuance is 0 and validators only get fees. No inflation or deflation and just a x amount of currency that overtime the market will price in for goods and services and becomes very stable.
I believe this because we have an real world examples of this tread playing out with bitcoin. It seems to me many ethereans don't believe that model works, yet the data suggests it does.
So trust the data, don't trust vitalik and the eth2.0 devs for finding minimum viable issuance.
That is my pitch.