Post
Topic
Board Announcements (Altcoins)
Re: [ANN][SCRYPT] Klondike Coin ★ MANDATORY UPDATE 3/3/14 SEE THREAD ★
by
Kheg
on 03/03/2014, 18:19:29 UTC
Jackdminer,

You have a point, but then again you also don't have a point. It all based on supply and demand, we reduce the supply, but we didn't increase the demand. We are now in process to increase demand by adding new websites that allow Klondike coin as a payment method. Klondike coin will have some hard moments, maybe several weeks, but the pipeline is really impressive, and there are a lot of coins were you now earn only $5 per day, really a lot of them. So moving to another point is not really a smart option, as we have reduce the speed of new coins added, other coins didn't, so if the bear market finished then Klondike coin should be in a better position.

The only problem is you didn't reduce the EXISTING supply.  That's what I've been trying to tell you since well before this fork happened.

There's a TON of cheap KDC available, and that sets the benchmark for the price.  Until you get someone willing to buy it up and hold it to FORCE the price higher, even the new supply is going to get sold at the lower price unless those miners are willing to take the risk and hold it themselves.  Even if someone does pull those coins out, they're going to recoup their investment by dumping them at a profit later - and then the cycle will beget itself which in turn will drive the price down once again.

The whole scheme is predicated on getting the existing supply out of the economy as quickly as possible, and frankly if that were possible it wouldn't have required a block reward change to alter the value of a coin!