It's not just inflation that I'm talking about, I'm saying the idea that somehow Devcoins will become valuable when they are generating at this rate. Inflation by itself isn't an issue unless it's at a rate faster than the market can handle and then the actual purchasing power and pay of every worker shrinks. This is the opposite of what is happening with Bitcoin and Litecoin. With those coins if you write or code and get paid in either of those coins then it's reasonable to believe that a year from now your coins might be worth even more so you might save them. With Devcoin we aren't seeing that trend are we. So if you're a mathematician explain to me why we aren't seeing the same trend with Devcoin that we see with Bitcoin and Litecoin? Are you saying it's just because of market cap?
So bitcoin is designed wrong?
Remember bitcoin too is designed to produce a constant number of coins for four years.
So until we hit four years we are no different. Since you don't think four years ahead is relevant what are you proposing, a pre-mined coin in which there is no inflation because the Tome owns all coins from block one and if anyone ever wants one they will have to get it from them?
Or You want a instamine coin maybe, half the coins minted the first month, another quarter the second month, another eighth the third month and so on so that in siz months when the problems you expect come along there is already by then no inflation?
You sound like a bit of a nutbar frankly, no different from those who insist bitcoin will die because it does NOT make the same amount of coins forever, except you take the opposite position.
The reason the coin is going down in price is because it is being given out to opportunists who are no different from the miners whose opportunism was limited in DeVCoin by only giving them 10% of the coins.
Maybe a partial solution would be to only let 10% of the coins be written-for just like only 10% can be mined.
Bitcoins have been going down too lately, have you noticed? Same reason: people dumping them. Maybe people are giving them all to asIC companies who are in turn turning them into fiat to buy parts or something, I don't know, but ultimately if the value goes down it traces back to people dumping.
i read a mention earlier that we need people to buy things with devcoin, and was tempted to point out right there that actually a lot seems to depend on WHAT people buy, or maybe on WHERE/HOW they buy it.
The what/how part is because maybe buying fiat is not the core reason the value goes down, maybe the core reason is the fiat is being bought on a certain style of market. Maybe no matter what you buy if you buy it on that format/form of market you inevitably drive price down, because the players who play those markets earn their money by trying to make sure that you need to sell more and more for less and less to sell in volume and need to buy less and less for more and more in order to buy in any volume.
In a lot of ways those markets seem ass-backwards from normal markets. In normal markets if you want to buy wholesale quantities you pay a lower price, not a higher price! Open Transactions uses scales for markets in order to facilititate those kinds of things, things we see in real markets whether you buy rice or potatoes or pig-bellies or iron ingots or almost anything else. Quantity discounts!
So maybe the structure of the marketplaces is as much or more to blame than the specific commodity being bought and sold or being used as "currency" to buy and sell "with".
Even if the newer coins don't even offer much in advancement, if people think they can make more money from them they'll use it. Devcoin has a good intention, and a good idea, but implemented wrong, and designed wrong, these are my opinions.
So writers are like miners, they will jump on each new instamined / insta-written-for coin, there will be a few new coins a day for a while, hmm are there still a few more each day right now, i haven't even bothered to watch, more useless crap blah blah blah. let them, once they have a few hundred wallets maybe they will look back and see writing for a hundred tomes a month is enough, they can afford to drop a couple hundred from their daily grind...
-MarkM-