Post
Topic
Board Altcoin Discussion
Re: Transparent mining 2, or What part of Legacy should be left behind
by
CIYAM
on 10/02/2014, 09:31:46 UTC
NXTs as coins... NXTs r not coins, at least the creator of Nxt didn't want them to be coins. They r tokens that grant privileges to support Nxt. Deflation is not much better than inflation, "real" coins should be created on top of Nxt and be issued in quantities that keep their value constant. BCNext understands that this is very arguable, the community should decide if it wants to follow the path showed by him or stick to Bitcoin legacy with unchangeable supply of coins in hope to become rich by doing nothing.

I think that the idea of reducing the fees by a factor of 10 or 100 is likely to pretty much completely get rid of the "mining mentality" (and will increase the # of transactions made) although one does need to be careful perhaps not to do this too soon as currently the "forging reward" is one of the main factors motivating people to run nodes.

Changing the total supply from 1B to something else would be a lot more controversial than reducing the fees - effectively that amount was a "promise" made at the outset so if that promise were to be broken I would expect some investors (especially the 73 initial ones) would be unhappy about that (actually it would probably upset those who have invested at recent "market prices" much more than the 73 as they have already probably each taken large profits from their initial investment).