Is this the reason the bitcoin price is not exploding right now?
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I’m torn. The inflation model is wrong, but a ‘group’ of people changing the inflation model sets a precedence. it’s central bank like. Handing the reins over to maths and having it entirely automated is the beauty of crypto. We would have to tread carefully IMO
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The dress is clearly Pink… I don’t know what all the fuss is about…
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I’m torn. The inflation model is wrong, but a ‘group’ of people changing the inflation model sets a precedence. it’s central bank like. Handing the reins over to maths and having it entirely automated is the beauty of crypto. We would have to tread carefully IMO
There’s a difference between been a central bank and not learning from the past.
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I live by that philosophy. It’s always better to stand up and say you got something wrong. But it’s a much bigger issue than I encounter in everyday life.
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I’m torn. The inflation model is wrong, but a ‘group’ of people changing the inflation model sets a precedence. it’s central bank like. Handing the reins over to maths and having it entirely automated is the beauty of crypto. We would have to tread carefully IMO
You actually got the argument backwards: A ‘group’ of people breaking away from the ‘main currency’ and changing the inflation model by creating an ‘alternate currency’ which is traded along side is exactly the opposite of being ‘central bank like’.
With a central bank, groups of people aren’t allowed to do that, because the central bank is the only authority sanctioned to do so. What you’re describing is a free market where people are free to create competing currencies and allow them to vie for popularity.
And the time for ‘treading carefully’ has long past us. We should have ‘treaded carefully’ with UNOCS, we should have pushed back against ACP, we should have denied NeoScrypt… and we should have ‘treaded carefully’ when accepting direction from someone so horribly unqualified to lead us it’s the point of regular jokes.
Now is the time to be bold, empowered, and show strength, not hide in the corner and be afraid. MrWyrm has made it clear he’s not a fan of disruption or controversy, but that’s exactly what’s required here if we’re going to upset the status quo and make some serious waves moving forward.
Come on, let’s explore together! I don’t want to tread lightly, I want to make a tsunami, and those who remain treading on the beach will wish they had decided to ride the wave!
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I wish I could unedit my post and undelete the other one. I feel as though I made a really good point but rage censored myself.
If anyone managed to snag a copy of my posts in your email, I would like it if it could be pasted in here as a quote.
I would like it if I could no longer edit my posts or delete my own posts. If someone can take all my access away it would be awesome.
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I’m going to lock this thread. I made it so I can lock it :P
Points were made and things are going in the direction they always have been. We have Core to testnet still and after that we can begun the livly debate of PoS/DPoS/*shudders*inflation
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Oh no you don’t haha
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Fair game
Its a hot topic.
I bet this will bring randoms to the forum I suppose.
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So, PTS mining is the way to go? I’m confused. What is the bottom line to all of this…?
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So, PTS mining is the way to go? I’m confused. What is the bottom line to all of this…?
The bottom line? It’s BTC/USD:294, FTC/BTC: 0.00001034.
Is PoS mining the way to go? I don’t know about “the way to go”, but it is one solution to the blockchain security issue.
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DPoS allows for a high amount of tx’s per second without compromising network security. It’s highly scalable and is the best thing we have for long term sustainability It seems. With or without changing the inflation model.
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DPoS allows for a high amount of tx’s per second without compromising network security. It’s highly scalable and is the best thing we have for long term sustainability It seems. With or without changing the inflation model.
If you define long term sustainability as simply having Blockchain Security, you’re probably right. If you define it as a healthy renewal of resources and fresh market appeal for the coin, then you gotta do something about inflation. You just can’t ignore it any longer.
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Cryptos and the ol inflationary argument >:D
You can paint inflation (like a statistic) anyway you want,
eg
Ask anyone how many bitcoin there are and most will reply 21 million…no? So therefore the market values bitcoin based on the fact that there be a possible 21 million of them.
In any game where the price is determined by the market the market is the only truth.
If you in ftc where to change any fundamental aspect of ftc you’d be again making the same mistake of the past, in other thread someone reply to me that the code is the truth, how could anyone trust ftc code if its funamentals are changed on a whim?
ftc problem is not inflation its market liquidity (tis even why ur main exchange dumped u).
(hell at the beginning wasn’t ftc pumping coins out so quick most accused it of instamine, yet tis price was higher for periods after that).
i’m not saying change of algos was a mistake, u guys where in a damned if u do damned if you dont place with that, the mistake was going scrypt in the first place, did your dev even know the real reason litecoin went scrypt (and no it wasn’t to avoid asics)?
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I agree Kelsey. In terms of economics you can paint any number of “truths”.
If we think that we have more knowledge than all of the economists in the world who could not for see the future then this is exactly when a mistake will be made.
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So are we switching to DPoS or are we sitting here with wet pants wondering why the pants are wet?
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I believe Lizhi is looking at DPoS. The work needed for DPoS is huge though, it isn’t something you just ‘switch’
