everybody can create their own bitcoin derivative or bitcoin clone or bitcoin imitation or whatever you call it , but the fact lies that no one has ever surpassed yet the achievements of bitcoin.
Looks like some professional miners are acquiring bitflate coins. They slowly push up hashrate and mine lots of coins. We're at 548 GH/s and 1461 difficulty. I don't see anything irregular. If someone notices anything, please let me know.
they are mining and then dump once it hit the exchanges. of course, what can you expect? from the faq section itself, you know that this will not gonna last long -
Bitflate (BFL) uses the same PoW consensus as Bitcoin. Miners are using electricity to generate BFL coins. They are spending money. I am cautious of high coin price in the FAQ. But it is reasonable for miners to sell the coins to recoup their mining cost.
Bitflate is not a Store of Value like Bitcoin. The goal is not sky high coin price or competing with Bitcoin Store of Value. The goal is to create a coin with somewhat stable price. I expect miners to sell their coins on the market. Inflation will create pressure to sell. Inflation removes the HODL mentality in limited supply coins.
Why should you mine or get Bitflate coin? Bitflate inflation is set at 7% per year. It doesn't issue more coins arbitrarily. I think if adoption for the coin increases faster than supply inflation, early adopters will be rewarded. That is the bet we're making. It is still an experiment. Do your own research and decide.
Libra and stablecoins are somewhat centralized and permissioned cryptocurrency. Bitflate is more similar to stablecoins. But it is permissionless, decentralized, digital native.
