Yes. Exactly. Dump later not now.
It new coin will not succeed - then better rate never become a reality, but if we put good conversion from the beginning - there will be no future at all.
And rational holders should be rewarded a bit, doesnt it?
Just give a new coin some time to breathe and gain strength. Do not "premine" or give any other possibilities to dump coins just from the beginning.
Ok but in practice, for example:
Day 1: New coin, deflation/limited generation.
Day 1: Option to convert at 1000:1 sat equivalent - no thanks.
Day 8: Option to convert at 800:1 sat - no thanks.
...
Day T: Option to convert at 1:1 sat. Equivalent of 16 billion old coins (160 btc) dumped into existence.
Makes little sense. Price today is the knowable discounted future value. People are not stupid. If I know it's coming on future day T that will affect my choices today. Even more undermining if I know that conversion optionality can be exercised at any time - i.e. the option is perpetual.