Post
Topic
Board Announcements (Altcoins)
Re: ★★ DigiByte ★★ [DGB] A Professional Cryptocurrency ✈ Android Wallet, CoinedUp ✔
by
creativecuriosity
on 11/02/2014, 01:19:40 UTC
Nobody feels, that changeing the coin supply specifications is way unfair, and not an acceptable method?

I don't think coin supply specifications are immutable -> however, I think any changes that are made should primarily affect velocity, and not the resulting total coin supply when all is said and done.  And in this respect, which is surely counter-intuitive for short-term speculators, increasing velocity and the rate of minting is preferable to reducing velocity.  The quicker we get to the ultimate total coin supply, and thereby past the inflationary period, the better.  All coins have to go through this period, and it lasts quite some time, which is hard for many to wrap their heads around.  While coins are being minted at a rapid pace, inflation and thus market price decrease are a fact of life for ALL coins.  Mid-term trends seem to bear out this classical fact of economics even in the crypto-currency markets.  Speeding that process along, even at the cost of short-term market value (which will be impacted the same regardless, only over a longer period of time) is a wise choice, and could even be used to bring in new faces and interest in the endeavor.

I know it seems to be backwards, but that is how the economic principles apply to all crypto-currencies because of how they mint coins.  Remember, a lower market price is not a loss of value.  As long as you continue to mine the same proportion of new coins that are minted, your increase in coins will exactly match the loss of value due to inflation.