Good point. A hard limit should be set somewhere not in the Billion range though...
Difficulty scales supply to demand. You have to make a case for difficulty being too low for the near future demand (which doesn't seem the case IMHO), and in that case for the need of capping supply instead of just raising difficulty.
If demand raises healthily then two billion is fine. It's like one million wallets with 2,000 coins on average. Remember the final aim is to maximize demand, not to maximize the value per coin (it's not the same).
I so agree with this, there should not be a hard cap at all, it should be allowed to float. one million wallets is a small amount of wallets, if the YACoin takes off, like we all want it to. Most of the other coins or I should say, many of the other coins are very restrictive and limited in their minting, and that will be a serious problem in the coming future. As more people come to cryptocurrency the need for more coin will absolutely balloon. There is a psychological effect that takes place when someone trades a dollar and gets .00001 coin of anything. That is beginning to take effect with Bitcoin and will only get worse, at least that has been the case and the first comment made by non-tech friends that I talk to about Bitcoin or set them up with a Bitcoin wallet.
+1 Thank you for this great insight. The idea that supply of a 'coin' shouldn't matter at all as it can be infinitely divisible--just move over decimal places and change the prefix. However, it does matter as we are dealing with fiat where value is derived from perception, and the psychological impact of trading 1 dollar for 0.00001 of something is just as you said. I believe we are witnessing this effect in the converse with infinitecoin?
With that said, I am concerned with the massive drops in difficulty at N-changes. People have complained about this coin basically being a GPU premine than CPU, but it seems to be the opposite. The people who starting mining earlier had to do so at a much higher difficulty, and if the price per coin remained the same, it becomes more instantaneously profitable after difficulty drops with N-Change. Am I way off?
+ Hi Beave, yes I do think you are correct that we are seeing the effects with infinitecoin, and I'm afraid that it just might get worse as time goes on. Regarding the N-Change, I have to study that. What effect could mining difficult have if the difficulty drops? Anyone have any ideas as to the possible affect? Would it cause people to flock to the coin, and cause people to start investing on in the coin? I'm not sure what the effects in the long term will be.
You may need someone more skillful.
