there is very little pow, and after a year there are under 2 million minted, also pos is paid equal % to rich and poor so everyone gets richer at the same rate.
That doesn't make much sense.
The percentage is the same but the rich get richer!
Person A: Holds 100,000 coins -> 40% -> 40,000
Person B: Holds 1,000 coins -> 40% -> 400
or am I wrong here?
At least the basic supply is small.
Total supply : 1,000,000 -> 40% -> 1,400,000
Person A: Holds 100,000 coins -> 40% -> 140,000
From 10% to 10 %
Person B: Holds 1,000 coins -> 40% -> 1,400
From 1% to 1%
The same.
so everyone gets richer at the same rate.
No. No one get any richer.
If you hold 10%, you still hold 10% after inflation.
The inflation reduce the value of the coin proportionally.
You get 10% more coins but coins are worth 10% less.
The same.
Minting is retarded but it works : some people really believe they get richer from inflation.
That's why central banks use massive inflation.If the number of people using the coin increases (demand goes up to match that), then the same percentage of coins (or even less) can make you richer .. you got more of something that's worth the same, or higher, in real terms.
Population is always increasing. Then there's timing effects. Money is a flow, not a stock, and inflation doesn't always happen evenly, and all at the same time, so prices changes don't always correlate perfectly with money supply changes. Too naive to say inflation doesn't make people rich, but it's easy for people to say it all the time. 2-3% inflation is making SOME people richer