im certainly not a professional in the market fees, but such an amount of tokens in this market with the usual functionality it seems to me very problematic. the price can collapse very badly after entering the stock exchanges simply because psychologically large numbers on the monitor lead to this.
Hi KnightRiderus,
Thank you for your insight regarding the total supply of Ixis and its potentially hazardous influence on the market capitalization or price per coin.
By reviewing the cryptocurrencies with the highest circulating supply, we can conclude that the supply itself has little impact on determining the price of each cryptocurrency. In each case we are witnessing currencies with 2bn or higher circulating supply and around 100M$ and higher market capitalization for each cryptocurrency. The “price collapse” you mentioned doesn’t seem to be associated with the circulating supply of a specific cryptocurrency.
We are aware that the amount of Ixis seems high at a first glance (if you read this thread carefully you will notice that the circulating supply will increase from the initial 2 billion to 50 billion Ixis in the next 5 years and the reasoning behind it, see quote bellow).
As was mentioned before, Ixi as a cryptocurrency (we have to state again in this case that Ixi is not a token) has a defined utilitarian value, that will help determine its price on the free market.
wow 2,000,000,000 Ixi tokens? I think it is very large amount of token supply. I don't see about how much the price for 1 token. Can you tell me about the price to be?
We're actually worried it won't be enough. 2 billion Ixi coins (not tokens!) is just the pre-mine. With PoW and PoS we expect to have over 50 billion Ixi coins in circulation in 5 years. Reasoning behind it is mostly that we expect Ixis to be heavily used for micro-transactions (paying per transferred kilobyte of data). If you consider a million people streaming a video in Full HD at the same time, they'll be transferring a whopping 5120 Gbps if you factor this in with our estimated initial price of 0.0002 Ixi per kB of relayed data, you'll notice that just for that we would need about 640 million Ixis per second to be transacted.
Ixi coin is intended to actually be used and not HODL, as such the supply must be big enough to cater to all of Ixians needs.
Note that the 2 billion pre-mine will be used in the following way:
- 1 billion Ixis reserved as a team reward and will be released to the team gradually
- 1 billion Ixis will be used for partners (~50%), bounty rewards (~10%), sold off on an exchange (~10%), reserves (~30%)
Actual initial price of 1 Ixi in USD will be determined by the free market. We estimate it at around 0.003 USD per 1 Ixi.