Re: [ANN][DRK] DarkCoin | First Anonymous Coin | No Premine | DGW | ASIC Resistant
Hello everyone and happy Friday!
Anyone who's been around long enough knows nothing in Darkcoin is ever set in stone and we listen to the community. Last time we removed the block halving we received a lot of crap, here's the problems with yearly halving.
- It's too fast and could destroy the coin
- It's way too much (50% per year)
- We already have formula for controlling the supply
Problems with not having a fixed supply:
- We'll have a constant amount of inflation forever. Most of us are in the austrian camp of economics, so I'd like to fix this.
In true Darkcoin fashion, I'd like to propose a solution that no other crypto has and fixes all of the issues. A yearly reduction of supply of 20%. With this we'll hit the cap of coins near 2056. I'm guessing we'll have somewhere near 25M coins (12M minimum, 49M maximum. Depends on how many miners we attract).
Let's have a vote!
https://bitcointalk.org/index.php?topic=525093.0
Anyone who's been around long enough knows nothing in Darkcoin is ever set in stone and we listen to the community. Last time we removed the block halving we received a lot of crap, here's the problems with yearly halving.
- It's too fast and could destroy the coin
- It's way too much (50% per year)
- We already have formula for controlling the supply
Problems with not having a fixed supply:
- We'll have a constant amount of inflation forever. Most of us are in the austrian camp of economics, so I'd like to fix this.
In true Darkcoin fashion, I'd like to propose a solution that no other crypto has and fixes all of the issues. A yearly reduction of supply of 20%. With this we'll hit the cap of coins near 2056. I'm guessing we'll have somewhere near 25M coins (12M minimum, 49M maximum. Depends on how many miners we attract).
Let's have a vote!
https://bitcointalk.org/index.php?topic=525093.0
This is a pretty big deal. Once this change is made is it final? We seem to revisit this from time to time. Also in the graph what is the middle black line?
That's just the average, and as it is going, we seem right on track to hug that blue line, so the red line is really an unlikely max that I'm afraid people think could be real. It's not, and I would like to see the formula continue as it is. I think it's unwise to shorten the lifespan of this coin. You have to remember, there will exponentially more and more people joining the crypto coin community over the next few years, and more after that. It will become an acceptable form of currency, there is no stopping it now. So the mild inflation will be quickly absorbed by demand, and allowing for meaningful rewards in the long term will keep this coin viable in our lifetime!
This coin should be the exception to the rule of, "lets get all the profit we can out of it asap to heck with the future!"
As it stands, DarkCoin can live forever, if the artificial 84million cap were removed. It is still rare, it takes a century to get to 100 million. Look at the United States Deficit! It's in the Trillions! And people think 100 million coins for the world population is too much?