Re: [ANN][TAC] TalkCoin | First NIST5, First Anonymous Chat
Trying to introduce scarcity by heavily reducing the block reward will not do any favours long term. Outside this will be seen as an act of greed and unfair to new investors after the block reduction, it would in no doubt give advantage to those who got in before the block reward reduction. All that would do is scare investors away long term.
The plan put forward is a sane one and will see a reduction in coin supply over the long term by sticking to the more conventional inflation model put forward by Bitcoin. A reward halving at 1.5m blocks is within the first year. Artificially trying to reduce the coin supply outside of a well thought inflation model will only see a short term benefit if that. Those who are interested in the long term survival of Talkcoin will appreciate the plan put forward by the Talkcoin team which is made up of the most prominent members of Talkcoin. There are no better people to look after Talkcoin's well being and those who have been following Talkcoin will be very familiar with them.
I believe that the changes happening now are Talkcoin's best chances of longevity.
The plan put forward is a sane one and will see a reduction in coin supply over the long term by sticking to the more conventional inflation model put forward by Bitcoin. A reward halving at 1.5m blocks is within the first year. Artificially trying to reduce the coin supply outside of a well thought inflation model will only see a short term benefit if that. Those who are interested in the long term survival of Talkcoin will appreciate the plan put forward by the Talkcoin team which is made up of the most prominent members of Talkcoin. There are no better people to look after Talkcoin's well being and those who have been following Talkcoin will be very familiar with them.
I believe that the changes happening now are Talkcoin's best chances of longevity.
Wow, ok where to start!
How do we have an advantage over people entering the market now who can pay far less for their talkcoins than we did? We would all gladly cash out at our original buying price and buy back in dirt cheap. But really if we had that chance, we wouldn't do the second part with the way things are looking, we'd walk away.
And why are you saying that early buyers should not make more profit than latecomers? That's the opposite of how markets and economics work. Something new starts at low value and goes up. New investors are attracted by rising prices, old ones are rewarded for their early risk. In your world it's immoral for people to make a profit by investing I guess?
Interesting use of the word "artificially". In any ordinary digital currency the inflation is predefined by a human and is completely artificial.
Do you define "artificially" as anything which gets changed after the coin release? I've got news for you, the new talkcoin team are the people who have changed it "artificially". We could originally vote any block reward from 0-50, but now that vote has been taken away. From the original ann:
>> √ Democratic block reward voting
>> √ Block reward: 0-50 max
What are you defining as a "well thought inflation model"? The implication there is that talkcoin was well thought out and nobody should mess with it. In that case why are you the ones trying to change it?
The bitcoin inflation model was never designed or intended for young coins competing for investment in a busy PoS-saturated altcoin marketplace. After the first few months of bitcoin - at which point inflation was at the equivalent level talkcoin is at now - bitcoin was just a bunch of nerds playing around with mining and looking at the code. No trading exchanges. It didn't have to be more appealing than hundreds of other coins or bring in serious investors. Exchange trading and investment only picked up later, AFTER inflation went down to more sensible levels. If you're basing your talkcoin economics on this model like you say, then the entire community needs to do a massive facepalm right now.
 |
>>"Talkcoin team which is made up of the most prominent members of Talkcoin. There are no better people to look after Talkcoin's well being"
So, not the exact opposite of that then? I thought the person who developed the entire coin had been backstabbed and left behind, and it was now controlled by a rabble of greedy miners. Am I wrong?