Bitcoin Forum

I see from over on the rimbit.com forum (see link http://www.rimbit.com/threads/decreasing-the-amount-of-rimbit-in-circulation.5996/#post-13149) that they are going to burn the excess coins that were created.  Some 392,380,976 RBT were initially made and it seems to be far too much.

Apart from the obvious, what do you think is a reasonable number of coins to have?  (The obvious being zero from all those who are not into it!)  I am not just thinking of Rimbit here but any coin - what is too many and what is too few?

good concept but no matter what you do, its doomed.
ther are shitcoins that are doing much better like https://bitcointalk.org/index.php?topic=719019.0 and they have 111 pages of commenting.
your coin has what??? 2 pages after how many years?  :D :D :D :D :D :D :D

It is not my coin per se, but one I have invested in for sure.  Rimbit has many comments spread over many threads, but that is irrelevant.  I am interested in knowing how many is enough and not too many or too few.  Any ideas?

i think its not about how many coins we needed, but its about how you can make profit with your funds. to get success its not just about how many, but its need time and strong will and i bet that many people will to do this to reach their success.

I don't think many get what you mean, so I'll start it off. We've had coins such as "42" and other coins such as D-notes/Doge that are on the extreme end of things.

Since a coin is divisible down to the 8th decimal point it means that you can have really as many or as lil coins as you want. Of course it's going to effect pricing but I think the "correct" amount would be dependent on what the coin's function is.

Like with 42, (not sure what it's purpose was) but it shows that you can have a network with only 42 coins, people just trade divisible pieces of said coin in order to transact. So the typical trader would have just a fraction of one coin.

Where as with Doge or REDD, these coins are used for tipping alot, it's also seen as "Fun" to have 1m coins in your name, call yourself a Doge millionaire. Because of this, the normal trader of Doge has a few hundred thousand coins.

Each coin serves it's own purpose and function (not sure wtf 42 does other than exactly what it's shown us) and the amount of coins it has is just what ever the developer thinks will support it's purpose best.

Long story short, there isn't a one number fits all. It's dependent on the function and intended purpose of your coin.

Your coin can have 1 coin or it can have 3 gagillion coins and it still won't be any closer to success than any of the others! :P

perfect comment! i think OP is only looking at the price side. and as you said, more coins tends to worth less but there are coins which need to have more coins in circulation( clearly not rimbit case).

From your analysis, I think you have been able to explain what OP meant... In other to add to it, I think the major determinant of holding any coin is the value attached to it as at today and ready to bear the consequences of what will happen to it tomorrow whether increase or decrease this willgo along way in determining the amount or quantity youre willing to hold whether short term or long term... My opinion though and my humble contribution...

for any coin that you want to have you have to invest in it, either your time or electricity for mining or the common way of simply buying it with bitcoin/fiat.

so with that in mind, i think your question is answered.
it is all about what you are looking to achieve with having that coin and for that achievement how much are you willing to risk?

is it profit? then invest as much as you can afford to lose.
or is it as BitWhale suggest like tipping Doge? then buy as many as you want to tip on different platforms.

Thanks all for the answers - it has been helpful!

Great thread.  I had no clue that the more popular coins have a clear 'purpose' behind them.  It explains why their communities are so large, they have a common goal.  Even Doge serves its purpose with having billions of coins.  The perception of being a millionaire is bought into by the community.  It's incredible to see brand currencies that people identify with.  It's another layer of personality on money.  WoW!

Agree with this 100%.  I don't know anything about rimbit, but I don't know anything about TRUMP, CC, blibbityblah, and all the other crap ones you see trading on the shady exchanges.  They are doomed.  You could probably trim rimbit to ONE coin and it still wouldn't hold its value.  No one is using these, and I would be more than happy if they were all "burned".

with some coins 0

because you have to absolutely stay away from them since most of them are scams and pump and dumps which will dump on your head if you get in by investing  your money and will end up losing money.

125,765,230,811 coins needed

You remind me when I was young and sucked on some titties for the first time. Keep up the excitement but remember this arena is full a fuckin scammers, especially here in this fucked up place called bitxoin talk. Dont trust a sole.

Just one
http://www.topolino.it/assets/test-3/_resampled/croppedimage620349-test-quantoconoscilanumerouno.jpg

No more than 100M seems to be norm and I am fine with that. Anything above that especially the multi billion coins are harder for me to wrap my head around i.e see the benefit of but if they can rationally justify the amount then I make the effort.

just goes to show how dumb humans are when an arbitrary number is considered important. it's all fiction anyway. but for the sake of human psychology then I think more is better. people like to own a lot of something even if it's a lot of nothing.

If Bitcoin is fine trading with around 16,000,000 coins, then why does any other coin need more?

Total coin supply is just a matter psychology... when the total coin supply is too big, you tend to think of a single unit of said coin as some cheap stuff, like DOGE.

If its more rare, you find it more valuable per coin and expect a bigger price.

Of course, this is irrelevant if the coin is useless.

Thank you for this.  I will  ;)

But that is what many are missing, 16 million coins means high prices which completely destroy the utility usage for micro-payments.
By having a larger quantity of coins , it allows a coin to be at a much lower price and never lose the micro-payment utility.
Also for Proof of Stake coins, the more coins the safer the network.  :)
Even at less than $600 per BTC, it is unsuitable for micropayments and its transaction fee is high enough , that you are better off using another coin to keep your transfer fees low.

Example:
Now lets look at BTC Utility as a payment system,
To send $4 it costs me almost ~25 cents, and that is with the current BTC ~$600.
With LTC, I can send $4 and it cost less than 1 penny with LTC current price ~$4 per LTC,
LTC price could increase 20X up to  $80 per LTC and it would still be cheaper to send as LTC than BTC.
Meaning BTC will not be able to hold on to a Payment System as a utility.


 8)


 

Kiklo is right.
Also the expected use of the coin is important. Bitcoin is an awful currency if you want to buy cheap things like a cup of coffee or a stick of gum. Who wants to count zero's every time they pay?

if you have good skill trading
and you have enough capital money minimum equal same 5 - 10 bitcoin ,
i think you can succes in trading bitcoin or altcoin , whatever altcoin

Well Rimbit is currently considering cutting a bunch of its supply...