My suggestion for keeping the value of bitcoins stable is to change the number of bitcoins generated per block dynamically and link it to some average of the number of transactions that took place.
Plagiarism!Just kidding. Please repost that in my thread, and vote "Yes".
What do you refer to when you say 19% deflation per annum? The decreasing rate of currency introduction?
He was referring to my
infamous threadI wonder how Satoshi came up with his magical number of 19% deflation p.a. Did he study some secret economics to arrive at his absurd "insight"? I guess he just set this value because he thought 19% would be a nice annual increase of his fortune.
I know. I repeated this over and over again. Satoshi (not is real name, which is unknown) is definitely not stupid. He probably designed the system specifically for that reason so he could profit as a "risk-taking early adopter" and run with the money before the system collapses. He had a chance to produce the whole 144 daily blocks (7200 coins/day) for quite some time before anyone else joined the network. He's almost definitely a millionaire now with quite a bit of coins stashed on the side in case it reaches $100 or more.
Other "early adopters" defend the current design for the same reason. My proposal removes the "early adopter" advantage albeit it doesn't negate the already attained profits.
You should either accept built-in deflation or leave bitcoin economy, that's my advice.
OR he can lobby in an attempt to prevent some hard-headed people from ruining such a beautiful concept just because they believe they can get free money forever.