The thing I don't get about the coin and maybe someone can explain it to me is the incredible hyper-inflation this coin has built into it.
It's going to go from 12 million coins to 1.2 billions coins over 15 years. Am I understanding that correctly? Through staking.
That just seems like dooming the coin to 1 satoshi right there. There's no way it can hold its value. It's gonna make doge look like gold by comparison.
You got it right. When I raised the issue over at HT with the pre-mining of 12,000,000 out of the 12,500,000 Paycoins in the PoW stage, most of the True Believers countered that 12,000,000 is peanuts compared the the 1.2 Billion Paycoins that will be issued, so by their logic the "pre-mining" is a big yawn.
The argument is kind of like saying "Don't worry about the $17 trillion dollar national debt, we are going to print 100,000 trillion new dollars to pay it so it won't matter one bit."