Hey guys hold on to your devcoins they may be worth more than your wildest dreams! Can someone knwoledgable in cryptos please take the time to undertstand and comment on what Im going to write?
User AnonyMint wrote post
https://bitcointalksearch.org/topic/m.3754745 on the thread "Cracking the code" that the tx fees will be the death of bitcoin in 2140 when block rewrds end and argued logically that block rewards continue to avoid mayhem. ofcourse that goes against the original idea and we wouldnt have the same speculative growth knowing phscylogically that there is no end in supply..
However lets examine this statement and what he talks about.. It actually benefits a coin like devcoin and what he is saying is essentially saying devcoin is the currency to actually become viable over bitcoin.
He said freicoin is ok because of demurrage but negative interest doesnt seem appealing on a global scale...
Ppc allows dynamic block rewards based on mining demand supply but not knowing rewards ahead of time can cause panic! I believe a few articles talk about this...so a static block reward is the winner by deduction.
So with static rewards we not only know how many coins to expect so the population knows what they are fighting over.. This will not create panic.. It will also not offer any early adopter hoarding ezcept for the few who mined while reward was low.. Even then only recieved a small fraction of the coims and dumped.. People holding can expect higher prices in a stable manor.. Why?
If population adopts something like devcoin we know population is growing yet supply is static coupled with the fact that as MarkM elluded to that as years pass less coins are minted in relation to total supply, this creates a deflationary situation that offers a small steady inflation that is known. This might be the key.. Today we need inflation but its not static its based on a falling economy.. We alll know a deflationary economy would make more efficient use of our limited natural resources but we need some inflation so lenders will lend and businesses can grow and sustain workforce... The idea of devcoin giving coins in exchange for work is also sound as when you ask me what money means it means i pay someone for work or something that took work for which is valued in the money.
I would like to know why this isnt better than a pure deflationary system like bitcoin and if you dont agree how you would avoid the transaction withholding attack (
https://bitcointalksearch.org/topic/transactions-withholding-attack-336350) this guys posts really switched a light on.