Post
Topic
Board Announcements (Altcoins)
Re: [ANN][0.8.6] Hirocoin - X11 - NGW - Secured Blockchain - Time Warp Limitation
by
tempestb
on 23/06/2014, 21:24:07 UTC
At 115,200 HIRO produced daily we will require 0.1152 BTC to buy ALL HIRO produced that day. I don't think that is anywhere near too much and will not quickly destroy the value of the coin. At 5 HIRO a day you're suggesting that we'd produce 7,200 HIRO daily which would require 0.0072 BTC daily to buy. That's a bit extreme and definitely skews the distribution to anyone who holds/buys HIRO now.

You stated early that a unique reward model like this would attract investors as they'd know the supply would adjust to demand in order to protect their investment which it will. This is a step in the right direction and will provide us with some uniqueness and an advantage over other coins. Yes services will have to be developed for HIRO so that we can truly be used as a transactional cryptocurrency. The Point of Sales page will finally allow merchants and regular users to accept HIRO as their preferred method of payment. What we can offer now is security in using HIRO as a payment platform and stability in price. We aim to provide more for our users as we continue development.

I am saying that you produce 7,200 HIRO daily, because then the coin becomes more valuable.  Of course it helps people who own coins now, there are around 50 million coins right now.  You have to absorb this.  If you go on any exchange (not sure you do) the total invested is less than a few Bitcoin and most of those are probably self adjusting arbitrage bots that will pull the walls when it no longer makes financial sense to have them for trades.  There is no HIRO economy.  You have to restrict the supply to grow the value.

You're incorrectly saying that the market can absorb about $60 in Bitcoin per day.  No it can't.  I'm the guy buying your 100 Satoshi Hirocoin right now.  When I'm not buying the value plummets to less than 90 very quickly and it takes one good dump to wipe out the market completely.  In fact, I'm pretty sure I can personally wipe out the value of Hiro Coin.  I have more coins than there are Asks. 

So when it is worth 1 Satoshi, is that when you think, "Hey maybe this isn't a good idea to pour hundreds of thousands of more coins into the market."

You just don't seem to be connecting reality to your observation that 80 coins a minute is fine.  It might have been fine if the coin had just launched, but you have 50 million some coins out there right now.  Anyone carrying a load of those coins can wipe out the market pretty easily.  And then this coin is dead...