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Dear, Bill</div>
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Inflation is indeed necessary, and money needs to be spent, but if there's no limit to the supply, it leads to inflation that becomes a crisis, like in Germany after World War I, and the value of money increases. If the use of money increases, inflation may
fall in the short term, but after a certain period, it will lead to a full-blown recession.</div>
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-Mert Ali</div>
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<div id="divRplyFwdMsg" style="font-size: 11pt;" dir="auto"><b>From:</b> Bill Woodcock <woody@pch.net><br>
<b>Sent:</b> Monday, May 18, 2026 3:21:27 PM<br>
<b>To:</b> alejandromontana@tutamail.com <alejandromontana@tutamail.com><br>
<b>Cc:</b> Mert Ali Bulut <mrtblt@hotmail.com.tr>; Cryptography <cryptography@metzdowd.com><br>
<b>Subject:</b> Re: [Cryptography] Montana: A Post-Quantum Blockchain with Time as Scarcity<br>
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> On May 17, 2026, at 20:39, Alejandro Montana via cryptography <cryptography@metzdowd.com> wrote:<br>
> The protocol dictates a flat reward of 13 units per window, forever, with no halving or supply cap. You are essentially baking infinite, linear inflation into the baseline. Why would rational node operators continue to burn real-world energy (and pay real
electricity bills) to sustain a network whose native token is mathematically guaranteed to dilute infinitely over time?<br>
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Because that’s how a currency is supposed to work, and they want to have something to spend? Because they paid attention in grade-school economics, and know who Keynes is?<br>
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-Bill<br>
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