Topic: [XCR] Crypti | Dapps | Sidechains | Dapp Store | OPEN SOURCE | 100% own code | DPoS - page 127. (Read 804676 times)

This is almost exactly reflective of one of the discussions we have been having internally.

100 million coins should be enough for everyone. No need to increase the size. ..

Bitcoin will only ever have 21M and its doing fine.

Although I stand behind my statement that changing the total supply will have a bad perception,
I wonder if it still isn't a decent idea.

It all depends on Crypti's goals. Is it dreamed one day that every man, woman and child
will want to earn and spend Crypti? Then a huge supply is
better as average joe will not like decimal points.

Or is Crypti's goals less about micro payments and more about high finance and store of value
where as 100M is a perfect number.

Congrats! You just found a reason that are not greed/monetary based.

Btw, How about we use Bitshares as the coin supply benchmark, since we borrow their DPOS?

Loving all this discussion and passion. And loving how into it the Crypti team is and responds.

I am also for "if it ain't broke don't fix it".
I believe only negative perception can occur from a change in supply.
Even though we are rebooting Crypti, a change in supply is a weak sign
and psychologically unstable in the overall perception of Crypti.

I'm still for much lower fees until someone can explain why .5% make sense.

Sharky444,

The only reason it is even possible to do right now is because we have to re-create the genesis block when we launch 0.2.0 as the whole network is essentially being re-booted. It wouldn't be possible again at a later date with our support, you would have to be launching your own network with our source code. We wouldn't ever be doing this again unless somehow DPOS ended up having some form of catastrophic flaw that no one has seen in the last year of testing that required another complete re-write.

All of that being said, I completely understand the opposition and also the negative response to the idea of some members. It was brought up as a suggestion however so we agree to discuss and vote on it internally which we are doing now. No decision has been made and the decision may very well be to keep everything exactly how it is. We will probably know after our meeting this weekend one way or another.

Right, so you say there are MANY long term benefits, but then again revert back to the market cap argument, which is strictly a valuation based argument. Arguing that lower pricing brings in more buyers isn't necessarily accurate in a market where the currency breaks down to the 8th decimal place and they can still afford to buy in. It hasn't stopped anyone from buying 0.002 BTC just because that's what they can afford and it hasn't stopped any of you from buying in and supporting us up to this point. I am having trouble finding reasons to justify increasing the supply that aren't greed / monetary based.

On the flip side, you don't have the opportunity to do something like a stock split down the road and if at some point we feel like the supply IS too low, we are stuck with it after this point.

The data format of the new blockchain will be different too as I understand. It will not be a fork. In will be a new blockchain.

There are many long term benefits for having a larger market cap. It is a better status on the market. Sure, some people will cash out just for the price sake. But When there is a seller there is a buyer. Because the price is relatively lower, there will be more buyers who can afford to buy. Therefore, the users pool of xcr will be bigger. We need to think the bigger picture.

They modify a consensus system, which essentially answers the question "Who confirms the blocks with transactions" That's all. But changing the coins supply shows that the XCR is not a digital gold (which is very hard to get) and like USD/fiat can be "printed from air" easily  .

I'm tottaly against this point of view  

Concerning the fees - I have no thoughts on it.

They cannot keep the blockchain. It will be replaced by a new, incompatible one in 0.2 within the next 2-3 weeks. This is the only time where the duplication can be done without any difficulties, as you are changing the blockchain anyway.

From the teams perspective, we actually had a pretty strong stand off on initially going with 100 million or 1 billion supply and eventually chose 100 million after much debate. I am still personally trying to determine the actual long term or short term benefit technology wise that we would gain (outside of any monetary or valuation consideration, which shouldn't be the basis for any decisions).

Crypti is a long term project and from this point of view I think that the best thing that the team can do - is to keep the blockchain, not playing with supply, rollbacks, blacklisting wallets and so on. Like in the first BTER hack, when NXT community voted not to touch the blockchain.

I understand that you want to make money quickly (chaning one variable - get 50% RoI  ). That's totally unrealistic.

Again, NEM proves that there is a big benefit for the larger coin supply. The market cap becomes bigger and the cost per coin becomes smaller.

For instance, if XCR increases the coins to the 10x,the price will likely only shrink to 1/5 because of some buyers' psychological reasons. Therefore, the XCR market cap will double up. If XCR coins can increase 100x, the market cap will be ever higher without doing anything else. It is how the top ranked coins are doing on the current market.

The thing is that if coins supply increases to 10x, everyone's coins will increase to 10x and your coins will still keep the same proportion of the total coins as before. For instance, if you have 100k coins now, if increasing to 10x, your coins will be 1 millions after the increase. No one will lose anything.

This change will help XCR in the long term growth. It is not for the short term.

XCR is still in the beta stage. The only window left for the change is before or at the implementation of DPoS.
 
 

What a crazy idea to change total coins number? Why? 

is there any way to learn algorithms? so far nothing good going on for me. newbie as you can see. i want to learn how to do some of those, to compile an algorithm to make a wallet or something, or even better, make some coins, purely apprenticeship wise

Yeah, added supply makes sense (probably x10 or x 20), but 0.5% transfer fee is ridiculous.

The plans that we have encompass much more than Mobile Apps and a Merchant UI. Crypti will have all the capabilities of most major players and will have them probably by the end of this year. Not only that, but in a way we think makes much more sense and on a better network.

We are internally discussing and have an open vote right now on whether or not to increase supply and also whether or not to change the % fee. We are leaning towards possibly changing both but it is pretty split right now. I would say the Board is about 50/50 on both subjects right now. We have our weekly meeting tomorrow to discuss pros / cons of both issues. So any additional input before then would be appreciated.

As far as the original 100M determination, I don't even recall what the justification was but it wasn't a revolutionary, history based, or statistic backed reason. It was just an internal debate because a number had to be chosen and that is where we ended up.

When looking at how DApps will work and the other planned projects for the core, many on the Board feel like the added supply might actually be worthwhile. I am still somewhat undecided myself and still debating internally on what I think the right direction is. I don't see much of a downside to increasing the supply, but I'm trying to balance that with the "if it ain't broke" in me.

Either way, this is a good discussion and I am glad you are all providing conversation and input. It helps us consider it from all angles.

Crypti Fee Discussion

So I've noticed that there's a discussion regarding the Crypti Fee which is currently set at 0.5%. I'm sure as most of you can see this is quite a major talking point, so I've decided to create a channel for discussion over at CryptiChat : http://cryptichat.me

The channel name is #crypti-dpos (For discussion regarding the fee and other topics in the run up to the DPOS launch). All you have to do to join the discussion is simply "Connect" and then click #crypti-dpos on the sidebar.

I urge you all to come join in the discussion on CryptiChat : http://cryptichat.me, I'm sure it'll be a much more user friendly option and will hopefully provide for more constructive discussion (you can chat in real-time) then the usual post system on BitcoinTalk.

With CryptiChat we can have the foundation members as well as the whole community discuss Crypti's fees in real-time. So I urge you all to come join in the discussion

The 100 million XCR quantity was decided buy the launch team a year ago.  I was not part of the foundation then.