Post
Topic
Board Announcements (Altcoins)
Re: [GLC] Globalcoin | 3 Year Anniversary 1.5.4! | NO IPO, NO PREMINE | [SCRYPT]
by
auden
on 30/07/2016, 21:04:13 UTC
I would NOT support any solution that causes the maximum number of coins to exceed the agreed upon 70 million

When it comes to crypto-currencies, scarcity and the reliability of the protocol is sacrosanct - imagine what would happen if bitcoin group decided "hey lets make it 100 billion coins now" price would nosedive - the fact that only 21 million would exist EVER, is a key pillar supporting its value

70 million was the stated hard maximum - whatever we do, we should KEEP it at that

As a matter of principle, it is preferable to let the coin die (if it is not being used for any real trading for goods/services) than to simply go on an unbounded POS supply increase

POS would only be acceptable if the POS rewards do NOT come from generating any new coins past the 70 million issuance cap (some ideas on where such rewards may come from : transaction fees, demurrage fees, etc.)