Quote from: Petryakov on June 26, 2020, 10:56:14 PM

Quote from: deisik on June 26, 2020, 04:50:03 PM

And how is it supposed to work?

Could you please outline the economic model it is based on? You don't need to delve into technical details, just give us a general outlook from an economic point of view. To give you a lead, please explain how it stands against modern fiat currencies which feature a built-in feedback loop that allows them to automatically readjust to the monetary needs of the underlying economy. Fiat is unbeatable in this regard, and no algo-based cryptocurrency could come close

You are jumping the gun with this question. I’m going to write a large post devoted solely to the issuance model and the supply control. It is complicated and cannot be outlined without explaining some technical features of the platform

Okay then. Though I don't really see why you would need to expound on technical features to explain its economic basis in a couple of words

Quote from: Petryakov on June 26, 2020, 10:56:14 PM

As far as I understand, what you are talking about is the ability to maintain stable prices (or it’s more correct to say stably inflating prices) in the CB-controlled economies by expanding or contracting the money supply according to the fluctuations of the demand. It cannot be matched simply because it’s done manually

It's not done manually

And that's the whole thing about fiat currencies and why they are so interesting. They are unique in their capacity to automatically readjust the money supply as required by the economy via creating as well as destroying what has become known as endogenous money. And while we are at it, you can't match this supply manually anyway as it is simply impossible technically. The central bank changes interest rates, that's true indeed, but it is only to oversee and maintain this self-regulating mechanism