Soap box time:
I think this is a necessary conversation to have if this coin is to survive.
Something needs to change or all the dev team/community's efforts will have been in vain.
This coin currently has one fatal (fixable) flaw:
Its annual inflation rate is 111%.
Remember that our staking rewards are inflation for this currency.
Staking rewards are necessary to carry the network, but they must be kept at a level that does not render the currency impractical via rapid price decline.
Because of the 111% annual inflation, the value will continue to decline over time.
Can you imagine if the Federal Reserve or other central bank's policy resulted in 111% inflation?
People would literally die over that.
I'm partly responsible for this. Maybe I should have voted a lot more times for 11%, but even 11% inflation will torpedo a currency.
Maybe I should have been more vocal about my concerns.
I know everyone wants more coins without paying for them, and staking seems like a great way to do that.
But what is the point in roughly doubling your number of coins each year if the value drops by 80+%? You still have less value at the end of the year.
If this isn't changed, the value will eventually peg at 1 sat.
In order for a currency to be useful as a currency, it must be relatively scarce and therefore hold value.
This cannot be achieved at 111% inflation.
Can we re-vote for staking rewards, and make it something that is a reasonable inflation rate again?
I figured I'd give it time before bringing it up, to allow the issue to become more obvious.
Have we learned our lesson yet?
/endrant
111% has not been implemented yet.... so the flaw you see does not yet exist?
So yes you have plenty of time to voice your opinion but if you think its 111% pos thats keeping SILK at these prices i'm sorry you are incorrect.
I eagerly await your opinions.
Q