Its unfair because Devs are not central bankers.
The developer sets the network. network should be allowed to run its course. If prices drop, devs shouldn't be allowed to cut supply. You might ask yourself why but let me ask you this. If prices were to to rocket to the moon, should the dev be allowed to increase supply?
If your answer is no to increasing supply, then the answer should be no to cutting supply.
It becomes a scam when you tell people "yes there will be 12 million coins over 1 year" then turn around 3 months later and say "just kidding, we are cutting suppy at 3 million". This would force a liquidity squeeze, send the price higher and reward early adopters.
But that is exactly what you want right? Cut the supply after you have had your fill of coins and artificially pump the price? Sorry man. You argument for cutting supply hold no weight. So what if multipools sell coins at market? They control the hashrate, they earn those coins fair and square. If you want to compete with them, get yourself enough hashrate, mine supercoin and hoard them.
If multipools are mining supercoin and dumping, then clearly the price is too high and liquidity needs to be injected. I welcome multipools because if I am trying to buy big blocks of coins, why should I be forced to pay a higher price? This is were multipools are a godsend. while everyone is hoarding, multipools are liquidity providers. They will sell to me. Amazing.
I can provide more points but this should suffice. Its becoming clear that you only care about the price going higher. the only time PoW or PoS should be cut is when there was a clear error in the development of the coin. Two examples would be CENT and NINJA. Clear coding errors that hyper-inflated and ultimately killed the coins. Supercoin is not suffering from that so I don't see any problems with the way things are right now.
Thank you for your word, nice we have good discussion here.
we do not reduce the supply, just put the left pow coin to pos phase, it's better for Supercoin.
check this:
Supercoin Long Term Development Advice
hi Supercoin Community
i am provenceday, truly, i have some amount Supercoin（i also have more than 100 posts on this thread）. Although i try to be neutral, but still some advices from me may be very subjective. Please Don't soak up everything uncritically.
about me, i have involved with coins more than 2 years, and mining and holding more than 100 altcoins at least. Also i am running 2 biggest Multipool in China. so i just want to share some experience with Community.
1 Whether Supercoin is a good coin or not?For me, i believe Supercoin is a good coin deserve to hold. Because Supercoin has a dedicated dev team, yes dev team is the vital to Altcoin (not for bitcoin
), if dev team abandoned a altcoin, then the altcoin may not go far. Luckily we have a dedicated team behind Supercoin. Everybody in Community know this.
Supercoin is a pow/pos separated coin with some lucky Super pos block, then everybody will want to open their Supercoin Wallet for super block which can accelerate the transfer confirmation. so supercoin has a very fast confirmation, 6 confirmation less than 2 minutes, it's super fast.
But if you also involve in XC coin Community, you will know XC has a very very slow transfer confirmation, some time it may take 1 hours to get 6 confirmation. because XC coin has a very low Pos Rate（3.33%,but good for price）and some shortcomings on their POS mechanism.
Supercoin are also also developing Anon Wallet, and has released the alpha Version for public test. it's a big thing. if you innove in altcoin more than 1 years, you will Know Anon feature is hard to accomplished. That's the reason why darkcoin and XC coin still only have a test Anon Wallet. As i know (maybe i am wrong), only Darkcoin and XC coin and Supercoin has a Anon Wallet now(not included Cryptonote technology coin, such as bytecoin or XMR). So that's prove we really has a professional and high-level dev team.
2 Which factors influence the Altcoin price?Truly, demand decides price in free market. but for Altcoin, mainly 2 things influence the Altcoin price.(i posted this before)
First is coin inflation, because everyday if we have 0.3 Million supercoin, if the price hit 10K satoshi, you will need 30BTC buying support, that's ok with current circumstances, but if the price hit 100K satoshi, you will need 300BTC support everyday, so it's impossible for nowdays coin, that's the reason why Dark and XC and VRC coin has very low inflation(that's also lead they have a much higher price than Supercoin).
Second is the Multipool, they will control everyday's coin supply, after they mined this coin, they will dump it soon for profit. and because i am running the 2 biggest Multipool in China,（more than 100G scrypt and X11 hash rate） i know exactly how Multipool works, everyminus Multipool will detect the all coin listed on all exchange platform(if they have a open api), then based the advanced profit Algorithm, they will decide to mine which coin, then they will mine it and dump it ASAP for bitcoins, because they must pay miner bitcoin everyday. otherwise miner will leave, also if miner can not get more profit than mining LTC, miner will also leave, because they can mine LTC instead. From my observe, at the recent 3 days, mining Supercoin is the most profitable thing, it have at least 50% premium than just mining LTC coin. so why not mining Supercoin and then dump it ASAP? it's really a good business for profit！but it's a disaster for Supercoin price.
3 Why same concept Anon coin has much higher price than Supercoin?Dark price is 0.017BTC （4,387,505 DRK）
XC price is 0.0015BTC (5,512,780 XC)
Vericoin Price is 0.00011BTC (26,768,365 VRC)
Supercoin price is 0.00002995BTC (11,811,810 SUPER)
i do not want to say more, from these statistics, you can make your decision.
4 Price prior or Development affairs prior?Guys, we are not at 2011,which we has less than 10 Altcoins, we are in 2014,, we have more than 333 Altcoins on coinmarketcap. even bitcoin, if the price keep dropping, most of people will leave. Further more, if the price is higher, then we maybe stable later, we will draw more resource for long term development, it’s a really good thing. that's why dark and XC can not be defeatd easily. Nowdays, innovations need more resource Support.
5 What does mining means for Altcoin?Now we have the POS algorithm, even without mining, the network is secure. mining is just a way for coin distribution and not very environmentally friendly,do you know how many electricity been wasted by mining bitcoin? Bitcoin Mining Uses $15 Million's Worth Of Electricity Every ...i do believe if satoshi has a better way to distribute bitcoin, he will not choose mining method.
6 what does Multipool does everyday?i am running some Multipool, i know it. Multipool is vampire. they will bleed white everycoin's profit until they turn to mining LTC again.
7 Should we reduce the block reward more quickly?i have proposed 2 times to reduce the block reward.
First time, i post this
DEV we need quick Halves, other wise Multipool will keep dumping their coins until pow period ends...
you can also check dark thread, at first the reward is 500coin then reduce to 25 coins after they realised the Multipool dumping.
similar thing happened with XC coin. they ends their mining period soon after they realized Multipool keep dumping
Further more, POS mining is a more greener way for coin distribution, it do not need GPU cards and waste electricity!
what's the meaning of pow period?
Halves block reward to 64 coins, Please..
I understand your point and concerns, and we will seriously consider your proposal. We know this is what happened to XC and other coins. We will protect the best of our community's interests against multipools. The Supercoin dev team will make a decision on this matter. Thank you for your great support to us.
thanks for your quick reply dev.
i have engaged with altcoin more than one years, have seen so many good coins just killed by Multipool.
i do hope supercoin has a bright future, because we are super!
From my altcoin experience, there are 2 things are really bad for altcoin.
First is coin inflation, because everyday if we have 0.3 Million supercoin, if the price hit 10K satoshi, you will need 30BTC buying support, that's ok with current circumstances, but if the price hit 100K satoshi, you will need 300BTC support everyday, so it's impossible for nowdays coin, that's the reason why dark and XC and VRC coin has very low inflation. i also hope supercoin has a lower inflation.
Second is the Multipool, they will control everyday's coin supply, after they mined this coin, they will dump it soon for profit.
so based the two reasons, i would like to advice to reduce the block reward more quickly and keep the total amount fixed or also can reduce the total amount. otherwise the price is not maintainable.
so how about reduce the block reward every week and at some point keep it at a low block reward?
so now we have 512 coin block reward,
512--》256--》128--》64 ends （4 weeks）
or
512--》256--》128--》64--》32 ends.（
Multipool will not profitable any more and keep lower inflation also small miner will mine this coin）(5 weeks)
if we have a lower block reward, people would keep their coin for pos mining, it‘s a better and greener way for coin distributing than Multipool control the coin supply.
But it seems dev are more mild on reduce block, i am more radical. Dev decide to reduce block more quickly, but choose to halves every 10day, at first the halve is every 45 days. After this Announcement, the price rise from 1k satoshi to 4ksatoshi.
Second time i posted this 2days ago:
Community can vote for weather to reduce block reward more quickly.
i do advice Supercoin can update source code again tomorrow, and reduce the block reward to 64 Supercoin or 32 Supercoin directly and then halves everyweek, until we reach 2coin or 1coin block reward, then we can end the pow and turn to a pure pos coin.
we do not need to suffer another 1 month Multipool dumping.or it may kill the young and promising Supercoin
Community can discuss this issue.
it seems both Darkcoin and XC coin make successive update to face Multipool's dumping, we may also need to make a tough decision again.
Thank you very much. welcome any comments on this advice, good or bad? Dev and Community together make a decision for a better Supercoin!
Also dev is very busying at Anon Wallet test on sunday, if we can reduce block reward first, we can put off another two days for Anon Wallet test, i believe Community will Support this.
Thanks for your Support.
But dev are too busy to test the Anon Wallet, so they do not take further action on this.
8 is it unfair to reduce blockreward again? or any risk?even you are a miner mining Supercoin now, it‘s unfair for you, because you can not get many Supercoins with Multipool control the more than 80% everyday's coin supply, also Multipool keep dumping, the price will go lower and lower, you mining Supercoin may can not afford your mining cost now. is that fair for you?
if you are a Supercoin investor, it is truly unfair for your investment, because Multipool take the most part profit on all Altcoins. you investment wroth less everyday. it's unfair.
if you want to join Supercoin Community, it’s unfair for you to buy a coin and that coin price goes lower later.
risk: if we can handle this correctly, it may not take risk on Supercoin development, because many Altcoin update their source code several times, such as Darkcoin and XC coin.
9 Further development plan advice?0 decentralized Anon system and trustless mixer
1 more application on Supercoin
2 Mobil basd payment system
3 Merchant adoption
4 media report
5 grow Community
6 keep adding new function on Supercoin
7 charity Fund
Thanks.
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