Post
Topic
Board Announcements (Altcoins)
Re: ANN🛸 WOKECash 🛸Enlightening Humanity Through Investment🛸Bounties🛸TruthBomb🛸
by
heratys111
on 21/08/2018, 05:01:32 UTC
Whoever is the whale [my guess is it can only be the dev] that likes to drastically manipulate or throttle up the inflation periodically should really lay off (or at least moderate / use the "reserve balance" when) staking their hoard.

Over the course of the past month, I've seen two occasions when the net-stake-weight jumps from the usual 1000 to 2000 or so to as high as 60 or 70-thousand -- he or she seems to have been at it again today.

Specifically, it can be seen in those wretched orange spikes at the block explorer's inflation chart: https://chainz.cryptoid.info/woke/#@inflation .   For instance, from this chart's timestamp of 7:26:12 today the coin supply was 103,774 WOKE and then at 17:51:12 it was 103,885 ... that is, 111 new WOKE were generated in 10.5 hours time.  When he or she isn't putting the pedal to the floor on the WOKE machine it has been otherwise increasing the WOKE-supply by approximately two per day.  Presumably the whale/dev can do this at the slightest whim and every other holder of the chain is subject to... for example... 462% inflation at the peak today (obviously this is a disincentive to everyone but the whale/dev -- unless he then turns and dumps the new largesse on the market to distribute it [artificially goosing the volume and generating income for the whale/dev but further diminishing the scarcity which would be a positive feature]).

One of the things this chain has going for it is it's presumably like a staking Unobtanium; that is, a low-numbered coin  However, WOKE theoretically will not find its footing and generate any kind of sustainable trading volume if is perceptible as only a cash-cow for the dev.  I recognize that he was probably concerned because there was the low trade-volume warning at the exchange... or maybe he needed some spare cash or something but there's also the potential for exit-scam risk or the dev dreaming of a lambo and taking it out on all other holders through massive inflation (Zimbabwe, Weimar-republic or Venezuela-style].  

Just for comparison and for the dev to see the holder's perspective: typically, a few hundred WOKE can earn one between roughly 0.15 and 0.25 WOKE per day when the net-stake-weight is roughly 2000 (and basically nothing when the weight is off the charts).  The only recourse the holder has is to dump or not push the price up (because of the manipulation-via-inflation risk).