Quote from: BrainOfSweden on January 17, 2014, 02:55:10 AM

Quote from: kovand11 on January 17, 2014, 02:41:11 AM

What happens, when all the coins mined? What gonna keep the network running?

That's a good question, but isn't it something all coins will have to deal with eventually? The way other coins "solve" it is basically moving the problem forward, but at some point, all coins will be mined. Are you suspecting that all coins will be mined to early and people will lose interest? Because right now, NOBL seems to have a pretty strong community already, and I don't think this will become a large issue. I'm really new to the crypto currency scene though, and I don't know a whole lot, but those are my 2 Nobles Wink

Our thoughts/discussion on it thus far

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Quote

<@Rofo> to be honest if we survive that long id expect a number of coordinated upgrades if necessary
hmmm
any reasoning behind that?
<@Rofo> mostly to keep it consistent - we didnt want to assume what to expect. it will take something like 5.5 years to reach max
<@Rofo> + we knew we could coordinate changes if necessary
<@Rofo> Were not experts on the particulars of halving though, are there any hard and fast rules to follow there besides (what I assume is?) an artificial decrease in supply?
To be completely honest I'm not sure. I really don't know the particulars of why a lot of coins use that.
I was just curious if this one was doing the same
<@Rofo> that's how we felt to be honest
<@Rofo> besides making it appear to become increasingly rare to increase price
Yeah
<@Rofo> but people see that coming so there is speculation regardless
<@Rofo> also we didn't feel we needed to reduce supply as what seems to be an increasing demand and awareness of crypto will more than make up for that
<@Rofo> are there any technical specifics to it though? perhaps maybe to gently reduce the amount mined so that it doesn't suddenly hit 0 at max capacity perhaps?
I would assume there is some reasoning behind it, Bitcoin did it and the dev team there gave birth to the whole crypto idea
<@Rofo> We honestly thought, at 5.5 years (the moment we'd hit cap) there will be 100 ways to upgrade/improve/change the current source and how crypto works to simply upgrade with current wallets to a new and improved system
they seemed to be really on top of things
Yeah thats a good point, 5.5 years in the crypto world is eons
lots will have changed
<@Rofo> exactly, even btc talk is increasing on hard-forking to increase supply I believe
<@Rofo> though its all just talk
<@Rofo> we did intend to have a page discussing exactly our thoughts there
Hmm.. that could help with acceptance but early adopters must hate that idea
<@Rofo> yeah true
dilute the supply and lower their %
<@Rofo> basically in 5.5 years (in a very best case scenario we take off) there would be a complete revamp of crypto code, how it works and integration with the economy
<@Rofo> and current addresses and balances would evolve into a Noble+ for example
<@Rofo> was how we felt about it
that makes sense