Quote from: InsanityDev on February 24, 2014, 07:18:19 PM

Quote from: jomama22 on February 24, 2014, 07:09:09 PM

im really missing where this can gain value. Why would anyone pay over .001 if that is where the price is constantly set?

Please read https://bitcointalk.org/index.php?topic=471166.msg5342870#msg5342870 and the Ann.

Ultra short is that 0.001 supply is limited, once it's gone it's gone. Additionally once a week the supply is cut for a day, Insanity Sunday, where all BTC from purchases goes back in to market, see the results of yesterday's here: https://bitcointalk.org/index.php?topic=471166.msg5323853#msg5323853

The after 9 weeks model is something that remains to be seen, but it could easily move to a different core model where there was a tiny block reward, or tx fee cut or increase, or at week 5 we could decide as a community to start raising supply cost, or wipe out 25% of the supply, or, or.. for now let's keep the current set up and see what happens.

I vote for destroying half of the supply and cutting it to 4/5 weeks. In crypto, 9 weeks is way too long and no body is holding long term to see what happens in 9 weeks so you can expect everyone to want out each sunday. If there were only 4 weeks left one might consider it, improving insanity sundays and building a base of people who don't just want some quick profit.