Post
Topic
Board Altcoin Discussion
Re: Altcoin - the alternative cryptocurrency?
by
miscreanity
on 17/08/2011, 17:23:42 UTC
but not increasing the money supply raises the value of the existing money as with bit coin.... remember with altcoin more money is being added but its up for grabs to anyone who mines?!?!

and decentralised currency needs miners.... plus adding just a little more forever more may encourage people to spend a little and not just hoard.... lets face it hoarding is only done as a means to get rich quick? or at least maybe fairly fast

Decentralized currencies don't necessarily need miners; it's a very ingenious way to spur usage, though. In the Bitcoin system, no miners means no inflation. It's a naturally self-correcting mechanism that prevents runaway devaluation.

Hoarding can be a get-rich-quick method during rapid growth or high volatility, but normally it takes a very long time for hoarding to pay off.