Post
Topic
Board Announcements (Altcoins)
Re: NEM Official Thread - Beta is almost here[Updates & Discussion]
by
Djinou94
on 20/10/2014, 00:04:18 UTC
I am leaning towards agreeing with everyone that this discussion should probably just be left alone. It seems like there are quite a few who do think we should change the total amount of coins, but I think that decision will ultimately undermine investor confidence, at least in the short-term. Long term, it really could go either way, but I think that the effects would be so minimal that risking short-term investor confidence is too much of a risk for a very minimal long-term gain (if any).

After thinking about it carefully for a significant amount of time since this discussion came about, I have come to the conclusion that the risk to reward ratio for this decision is simply not good enough for me to be able to support any changes.

Have you heard about the changes in companies' shares in stock markets? They usually come suddenly and then you have been given a letter, a notification that each share is splitted into 8 (for example).
In such case the value of the owner's shares is the same, but the amount of shares has increased, not doubled but 8 times.

I think that the investors do understand this kind of changes. No one has eaten his words  Wink

crypto markets are rarely, if ever logical and most of the counterintuitive. Even though the change would have no effect on the value of stakes, can you really trust such an illogical and irrational market to make the logical and rational choice to ignore such a change?

There just doesn't seem to be enough gained from such a change to warrant making it. Like Amy said the risk:return ratio just isn't good enough for us to go ahead with this..


Why risk having a number that Asians consider unlucky or deadly? They are quite superstitious ,at least in my experience . If something negative were to happen however small they might be more likely to stay away. Isnt it a good thing that we are taking Asian beliefs , superstition and psychology into account ? Its respectful.

Now as long as we have plenty coins to cover a fantastic future does it really matter how many there are?
I will say again that Nemstakes are not a true representation of value as at the moment they fall under certain parameters and that price is not something to worry about.

If anything the change to coin amount would bring increased news coverage and interest.




The superstition is real, which is why I had to really think about this for a while. And of course it is good to take the concerns of other cultures into account, especially when we are dealing with something intended for use by everyone around the globe.

However, the more I thought about it the more I realized that this is really not even a discussion worth having. Mainly because even though the supply will be 4 billion, this is only in the beginning. The total supply will not be 4 billion for very long, considering it is inevitable that some NEM will be burned for one thing or another. Therefore, to change the original plan simply so we can have something other than 4 billion in the beginning seems like a drastic measure simply to accommodate a superstition that likely will not make much of a difference in any real world scenario.

Again, I live in Asia so I am very familiar with the superstition; but, the more I think about it, the more I think nobody is really going to care and the risk of making any changes to the original plan at this point after nearly a year of nobody caring is just too high, in my opinion.

Also, I know to those of you who are not very familiar with this uniquely Asian superstition this sounds even more silly, but please understand that sometimes things that may seem strange or insignificant to one culture could be vastly important in another. So, I am glad that we are having this discussion but in the end I think we will probably be just fine with 4 billion.

+1
For people who don't want to change

Euro
http://bitcoincharts.com/markets/currency/EUR.html

USD
http://bitcoincharts.com/markets/currency/USD.html

CNY
http://bitcoincharts.com/markets/currency/CNY.html

All :
http://bitcoincharts.com/markets/

I think european should not give their opinion  Grin