Quote from: Soul_eater_123 on August 09, 2017, 04:05:54 PM

Quote from: dazbog835 on August 09, 2017, 01:54:17 PM

Well, you imply as if there is consensus on this, but there isn't. Most of the economic community is torn between this being either a good thing or a bad thing. I understand that Satoshi Nakamoto's whitepaper proposed we go back to a limit system, and I don't disagree. When it's regarding money. But I don't see Waves as a currency, at least not in the long run. Not in the same way that Bitcoins, Monero, etc. are considered.
What makes the limited supply a good thing regarding a token platform like Waves?

Well I think there is quite a strong consensus on it in the cryptocurrency community.

I think it makes sense from a valuation perspective but I think I understand what you are saying i.e. that if there is restricted supply then at some future point WAVES may become so expensive that it is difficult to do the things that are the purpose of the token?

I think that is already becoming an issue with ETH. Not sure there is a perfect solution.

It is kind of paradox. You need something to have value in the markets to get the attention it needs to reach critical mass and be used. Restricted supply helps to do that but as you imply it may create inertia in the future.

One way is to constantly adjust fees (e.g. for transactions or token creation etc) but people are generally not good at dealing with decimals.

Interesting discussion. Thank you:)

Yes, the crypto community seems to be in agreement. But less we forget, our community is still really small. Not that size implies wisdom.

Yes, that is what I was saying. If I'm completely honest, I'm having a hard time even imagining all the possibilities of token platforms like ethereum and waves. But surely, we are in the early 90's discussing the possibilities of the internet, giving examples of sending mail in minutes instead of weeks, not realizing what beast the internet will become in 25 years.

That is why I think there should be a lot of thought put in on a scale in 20-30 years time. Just look at bitcoin. It wasn't really built for this scale. And this scale is small in comparison to the number of users it's going to have in 5 years time.