Post
Topic
Board Announcements (Altcoins)
Re: [PRE-ANN][XCN] Cryptonite | 1st mini-blockchain implementation | M7 PoW
by
nakaone
on 21/07/2014, 16:46:31 UTC
i was silently following your other thread.

i like your concept but also think that a coin supply of around 20 million is much better than this almost undefineable huge number - the reasons for this are practical.
What exactly is practical about 1 BTC being worth more than $600? Instead of sending very small amounts we'll be sending very large amounts to each other, why is one better than the other? And it's not "undefineably huge", it's 184.4 billion coins.

from a normal non-autistic person you need some point of reference to define the value of one unit - maybe some big currency like dollar or euro or what a cup of coffee costs etc. whereas I also think that 600$ per coin is also far from optima, it is bitcoins biggest unit of account, and it is no problem to use a smaller unit like satoshi or bits or whatever. when you start xcn the biggest unit of account will be 1/184400000000 - even if this project is uber successful it will take ages until one unit is accountable for a normal person and to find some reference point.

the rate of distribution is also independent of the unit of account - so I do not see why you need this huge number. it will probably not be a short time killer for the coin but it will definetely hinder wide adoption