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There is central control at the protocol level.

Look at a chart of total bitcoins over time and note it's not smooth: https://en.bitcoin.it/wiki/File:Total_bitcoins_over_time_gra...

Why was it setup like that? Well it was decided rather than having a fixed rate of supply though time there would be a target number of total bitcoins and early miners would get a free pass: https://en.bitcoin.it/wiki/Controlled_Currency_Supply

A more rational setup would be a fixed rate of supply though time, so in 2750 the % increase in supply is a tiny fraction of overall supply but the absolute number would be the same as 2012. Instead they picked a fixed target number of bit-coins which eventually creates deflation as bitcoins can be lost which destroys them.



I notice it isn't smooth, yes.

But I don't see your point. I am aware that BitCoin has a deflationary economic model which favour early adopters.




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