Quote from: amytheplanarshift on March 02, 2014, 01:49:31 PM

Quote from: scottii on March 02, 2014, 01:46:47 PM

Quote from: TheMightyX on March 02, 2014, 04:29:35 AM

The problem is quite obvious. You've created a coin which won't be profitable until the yearly influx of 10,000,000,000 coins is worth less than the influx of new money being invested into it.

That's pretty simple math.

Someone mentioned that in a certain amount of time, the amount of new coins being introduced won't matter.
This is true. If the coin supply is 250 billion, whats an additional 10 billion per year (still a lot of depreciation though!).
The problem is it will take 24 years to get to that point.
Who the fuck is going to invest in this to wait 5, 10, 15 years to see a decent return on their money?
In the cryptocurrency community 3 months is equal to 3 years. So i'd hate to have to wait 1 year (let alone 5) to see something happen. It's too bad because this had a really good name and could have been built into something good and lasting. We are here to get away from inflation. If we want to stick to a consantly depreciating currency we can use fiat money thanks.

People are here to get rich quick.
This coin presents anything but that scenario.
This is a get rich slooow scheme.

"We take your money and give you nothing in return!"
...
MAGIC!

Deflationary is great for commodities
Horrible for currencies.

Why? Basic economics.

Sadly, many people who are into cryptocurrencies are not well-versed in economics or economic theory of any kind. Luckily this is a great place for people to learn though!

Which is exactly why I made this currency.