Quote from: HinnomTX on March 06, 2014, 10:56:50 PM

Quote from: slntdth7 on March 06, 2014, 08:50:07 PM

Quote from: HinnomTX on March 06, 2014, 08:28:07 PM

Quote from: slntdth7 on March 06, 2014, 08:22:55 PM

Halving IS very near, coins are easy to come by right now!

After the halving, we should vote as a community to change MIM to be a deflationary coin. Cool

Explain deflationary

You get deflation when you have a finite supply of coins to which unlimited fiat currency aggregates. Current examples are NXT, BlackCoin, and Premine. There are no new coins coming into existence with these currencies.

I would propose to the community and to the devs the following long term modifications to reduce the inflation in this coin.
1. Build in one more scheduled halving of the coin subsidy after 1 year to 5000 coins per block. This way, we would still see 14.8 billion coins created in the first year, on schedule. But after 1 year 'only' 5 billion coins would be mined each year thereafter.
2. Reduce the maximum number of coins to 125 billion. It will still take 25 years to mine all the coins.

MIM is at a disadvantage to other currencies because the initial price estimate for all coins is based on total coin population.
From this article:
http://cryptofrenzy.wordpress.com/2014/02/16/secret-price-formula-for-just-launched-coins/
Altcoin Initial value = (Total BTC Supply ÷ Total Altcoin Supply) ÷ 5000to10000

For MIM, you're modelling 'unlimited coinage' with a 1 trillion upper limit. On the optimistic side we get:
MIM initial value = (21e+6 ÷ 1e+12) ÷ 5000 = 0.4 satoshi

MIM might be estimated to be worth as little as 0.2 satoshi. Ouch. We are already seeing this play out in the markets, where MIM/BTC bids at 1 satoshi are pretty much gone now. MIM will end up being traded against Litecoin, and let's be honest, Litecoin markets suck. This is why I think we should cut the max population to get the coin over 1 satoshi value. (Coin reduction has happened successfully with other coins e.g. Kittehcoin). There's still plenty of inflationary magic and it will take a good while to mine all the coins.

HinnomTX

I think it would be a good idea. What does everyone else think?