I think what you're ignoring here is that as any individual gains access to more liquid wealth, they become increasingly more likely to spend some of it.
As your access to supply increases, your demand for more monetary units decreases. As your demand for monetary units falls below your demand for other goods and services you want in life, you spend some of it.
This is how markets function, right? This is why bubbles pop for example, eventually holders of an asset reach a price where they want to take some off the table.
There is a common idea that high monetary velocity (GDP divided by broad money supply) is needed for inflation. However, the data show that this is not the case.
Your thought experiment is assuming that $1T is permanently locked "in a vault", therefore it is not actually part of the monetary supply, since it can't be spent without violating your assumption.
I believe this is misinformation, because it assumes that the energy usage is not being well spent - that Bitcoin is a waste - but that assumption could not be further from the truth.
Bitcoin's value lies in its absolute scarcity and immutable monetary policy - it preserves your time spent working in a money that cannot be debased by anyone, ever. There will only ever be 21 million bitcoin.
If your savings is constantly at risk of being debased, not only do you lose purchasing power over time, but you're also incentivized to spend it and invest it as quickly as possible, rather than waiting thoughtfully for the best purchase or investment. You're being forced to have an extra job, as an investor, to even remotely come close to making a good investment. This is assuming that's even an option and that you have access to financial institutions in your country.
Technology is advancing exponentially - it should bring abundance and higher quality of life to everyone in the world. People will get more for less money, i.e. it is exponentially deflationary. With an inflationary monetary policy, where markets and assets prices are supported by the printing of money and will immediately crash if the printing stops, many nations will be forced to print exponentially to fight the deflation caused by technology. In other words, technology should be saving everyone time and energy as it raises productivity, but inflation forces everyone to work harder to keep up.
How can a finite planet support an economic system that demands infinite growth? A money with absolute scarcity solves this by allowing for deflation in prices as technology drives abundance. Fiat and inflationary monetary policy is the root problem driving climate change, and likely many other complex negative externalities.
In addition, I would point out that energy usage is not intrinsically bad. Higher per capita energy usage leads to higher quality of life. The climate issue energy poses is within how the energy is produced, and the majority of that problem lies in the emissions from coal power.
The good news on the energy production side is that a monetary network using Proof-of-Work incentivizes competition between miners globally. As cheaper (or even free, stranded) energy is made available to miners anywhere in the world, miners anywhere else who pay more for energy are pushed out of profitability and have to shut down shop. The difficulty adjustment in Bitcoin mining means that as more miners compete, those paying the most for energy are forced out of the market. This creates a clear incentive for miners to find the cheapest possible energy, which is predominately green and renewable and drives innovation in the space. Cheaper energy is great for humanity. Check out the recent work by ARK / Square exploring this.
Overall, these developments have made me hopeful and optimistic about the future again :)
As trust is spread across the network to an increasing number of people running nodes, the trust assigned to any individual participant approaches zero.
This can be observed in the resilience of the network, as it self-heals against any attacker or alternative fork from the consensus.
Bitcoin has democratically ossified into a store-of-value with absolute scarcity, deterministic monetary policy, and a priority on decentralization. It's extremely unlikely that those attributes will be compromised.
Fourth Camp: You are a tinker and a smithy. You build tools for other developers to use.
* Source Code: Your code is clean enough for you. Your top priority is thorough documentation and intuitive API design.
* Execution: Critical around bottle necks, like large batch processing and build times, otherwise it doesn't matter. Iterate and optimize based on feedback from your devs.
* Correctness: The program should function exactly how it's described to function in documentation. If something unexpected happens, the error is clearly and concisely exposed to the developer so that they can understand what they did wrong.
* UI: Usually not a thing, but when it is, your users are developers and they should be able to figure it out ...
Personally, I'm a gamedev, super in Camp 3. I've worked with a lot of folks who could care less about product and polish, but love making their colleagues lives easier. It's pretty similar to Camp 3 in the sense of "making for your users", but the skillset and priorities are very different.
Favorite languages: TypeScript
Hangouts: npm, github, anywhere open source code is distributed
That would be tough; the accelerated piece in native is mostly coupled to the JS API - specifically the view hierarchy and animations. It's pretty straightforward to port games to it though, and it's generally easy to pick up and move fast. The easiest way is to take a look at some example code. Here's a game I built for the Global Game Jam 2015. Cheers!
OP - I've been working with the Game Closure team on the HTML5 devkit for quite a while now, and we have yet to find an engine that gets better performance out of 2D JS games on native. The view hierarchy, rendering, and animation are written in both JS (web builds) and C (native builds), connected by a Java Android stack and an Objective-C iOS stack. The docs are a bit out-of-date but the tech is really powerful. It supports WebGL and canvas rendering in web builds, but there's no 3D support yet.
As your access to supply increases, your demand for more monetary units decreases. As your demand for monetary units falls below your demand for other goods and services you want in life, you spend some of it.
This is how markets function, right? This is why bubbles pop for example, eventually holders of an asset reach a price where they want to take some off the table.
"Everyone has a price."