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reduction from 80million to 20million
this was a horrible move.
not only it did not increase the price
it actually made the unfair-distribution-of-coins situation worse.
now the early miners are at even more advantage.
the coin numbers should be increased to 160 million to dilute the excess-early-mine issue.
great tech guys but when it comes to economy they are pretty much retarded.
I've been thinking about the supply issue since the reward reduction went into effect, and I know Evan has an economics background (and I don't) so I'll pose this question:
Darkcoin has a number of innovative features, including the ability to adjust rewards based on difficulty. So you have an intelligent network at that rudimentary level. Would it not be possible to code a more demand-based max coin limit?
* It seems to me that any ceiling set in a tech-related field eventually becomes a liability. Anyone remember 640k limits? the Y2K "bug"?
* There is still an ongoing hubub about the unfair initial distribution of the coin. Whether it is really unfair or not, the complaint, and apparently the perception, remains.
* In 20 years, if things go as we all hope, it is quite possible that we will need a larger supply to deal with the demand. But how much? And how will it be decided?
Would it be possible for the network to adjust to an combination of inputs, such as an increasing demand + decreasing hash rate by allowing more coins to be created, but in a way that is both transparent, rational, and pre-programmed? If everyone involved knew the rules far in advance, it would further enhance this coin by increasing the stability and its use as a store of value.
