Right now you can mine millions per day but as time goes it reduces greatly. Will the value of infinitecoin increase due to that?
What do you guys think?
Just reading about it now for the first time . .
524,288 (2^19) coins per block . . . but halving every month.
After 12 months, each block will generate 2^7 coins . . 128 coins . . essentially a negligible number compared to the existing number of coins. 90 billion or something.
So it will be very deflationary at that point - which is great for holders of the currency . . . the market isn't being flooded by new coins every day.
But what is the incentive to mine at that point? There's unlikely to be sufficient transaction fees by that point and the miners would abandon it.
So 2 main criticisms -
1. Infinite coin is a very bad name for it. While the numbers used are high, it's actually very limited - and ironically that is its strength.
2. The developer doesn't have a credible plan to transition away from high mining rewards after 12 months.