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Author Topic: [ANN][MUSICOIN]  Coinomi multi-asset mobile wallet supports $MUSIC 💃💃🎸 🎸 👛  (Read 250250 times)
Chance567
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March 19, 2017, 04:31:52 AM
 #481

Here's some real math for everyone, this should settle the infinite supply issue once and for all.

Counter-argument to coin supply hesitation:

Say we have 1.8M coins generated per day (approximation based on current block time and reward).  
At a constant rate, in 100 years we will have 65 billion (65,000,000,000) coins, which is 3,000 times the number of bitcoins.  
The current price of bitcoin is ~$1000.
So, if we have 3,000 times as many coins, and you only care about coin supply, then the price of Musicoin would be ~ $1000 / 3000 ~= $0.33.


In short, you're not going to be alive long enough to care about such inflation. On the off-chance that we discover the secret to immortality, I suggest selling off between 100-200 years from now because the price will half by that point and I would hate for you old farts to lose money.
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March 19, 2017, 04:38:30 AM
 #482

Since this is a ETH clone. Once ETH rolls out their Casper POS then this coin can switch to POS in the future like ETH.

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avitas
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March 19, 2017, 04:42:34 AM
 #483

... and you only care about coin supply...

i see what you did there...

we need to suppose the market cap is about 3000 below BTC too to make it a little more realistic?

$0.33 / 3000 = 0.00011 ~= 11 satoshi

current price ~= 100 satoshi

seems like a bit overpriced atm? just saying...
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March 19, 2017, 04:46:01 AM
 #484

Development is in very early stages of determining next best steps to change from PoW at this time. I don't want to give away their secrets, but I know they're looking at potentially using Proof of Space rather than Proof of Stake due to the nature of the project. I'll update the thread when they reach a consensus on a plan of action.
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March 19, 2017, 04:47:30 AM
 #485

... and you only care about coin supply...

i see what you did there...

we need to suppose the market cap is about 3000 below BTC too to make it a little more realistic?

$0.33 / 3000 = 0.00011 ~= 11 satoshi

current price ~= 100 satoshi

seems like a bit overpriced atm? just saying...

Sure, that will be overpriced in 100 years. You just applied 65 billion coins to a blockchain that hasn't even broken 100 million yet, though.
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March 19, 2017, 04:59:57 AM
 #486

Sure, that will be overpriced in 100 years. You just applied 65 billion coins to a blockchain that hasn't even broken 100 million yet, though.

so the price should be around 11,000 sat right now is the logical deduction.
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March 19, 2017, 05:06:26 AM
 #487

haha.  I wouldn't take the 100 years explanation too seriously.   Roll Eyes The point is that there is no "theory of supply and supply".  All this talk of the number of coins completely neglects the demand side of the coin, which is much more difficult to predict, but is equally important. 

Let me be clear and save a lot of people a lot of money: You CANNOT predict the value of a coin based on the number of coins that will be produced.  And, before you change strategies and jump into the stock market, you CANNOT predict the value of a stock based on only the number of stocks issued.  Please, save your money, just stuff it under your mattress and sit quietly until help arrives.   Grin

Now, the inflation RATE does matter.  And in that case, we are identical to Ethereum -- the rate (relative to total supply) decreases overtime.
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March 19, 2017, 05:13:17 AM
 #488

Also, did I already post to this thread my idea about starting a blockchain that only has a total supply of one coin?  If not, consider the gauntlet thrown.  Imagine how much that coin is going to be worth!! 

Who's with me?!
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March 19, 2017, 05:20:40 AM
 #489

Also, did I already post to this thread my idea about starting a blockchain that only has a total supply of one coin?  If not, consider the gauntlet thrown.  Imagine how much that coin is going to be worth!! 

Who's with me?!

Let me know when the ICO starts.
 Grin
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March 19, 2017, 06:17:43 AM
 #490


Let me know when the ICO starts.
 Grin

please read the title ANN
this is no ico, no premine, no bounty. please read before asking. 


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Chance567
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March 19, 2017, 06:22:48 AM
 #491


Let me know when the ICO starts.
 Grin

please read the title ANN
this is no ico, no premine, no bounty. please read before asking. 

Please read the conversation above the last post before you assume I'm being serious. My response was a direct reply to a developer, who was making a joke at the expense of speculators who only look at total coin supply. Any investigation on your part would have shown I have been an active contributor to this thread. Thanks for the judgment though, very cool.
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March 19, 2017, 07:20:11 AM
 #492

Here's some real math for everyone, this should settle the infinite supply issue once and for all.

Counter-argument to coin supply hesitation:

Say we have 1.8M coins generated per day (approximation based on current block time and reward).  
At a constant rate, in 100 years we will have 65 billion (65,000,000,000) coins, which is 3,000 times the number of bitcoins.  
The current price of bitcoin is ~$1000.
So, if we have 3,000 times as many coins, and you only care about coin supply, then the price of Musicoin would be ~ $1000 / 3000 ~= $0.33.


In short, you're not going to be alive long enough to care about such inflation. On the off-chance that we discover the secret to immortality, I suggest selling off between 100-200 years from now because the price will half by that point and I would hate for you old farts to lose money.
I think some of the clarification regargind infinite mining supply should be on main forum page of thread so people wont ask the same think again and again

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March 19, 2017, 07:26:45 AM
 #493


Let me know when the ICO starts.
 Grin

please read the title ANN
this is no ico, no premine, no bounty. please read before asking. 
You are not very attentive arent you?

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March 19, 2017, 01:43:41 PM
 #494

Hi I want to ask you do you have mining calculator? Thank you in advance.
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March 19, 2017, 05:47:45 PM
 #495

Hey guys. Look at my calculations. The emission musicoin is 54 million per month and, accordingly, 648 million per year. It's very foolish to count before tens and hundreds years. There is reason to assume that in 1-2 years the musicoin will pass to the POS with annual about 5%, so that the emission will almost stop. As for the coins with billions of coins emission and huge capitalization and price, there are many examples for example a ripple (about 100 billion) or nem (9 billion) So we don't need disturbed about size emission musicoin Wink

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March 19, 2017, 07:13:57 PM
 #496

there are many other coins like this specific one.  after some research there seams to be pieces of this coin. "borrowed" from others..

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Chance567
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March 19, 2017, 08:32:53 PM
 #497

there are many other coins like this specific one.  after some research there seams to be pieces of this coin. "borrowed" from others..


Care to support your claim with your findings? Specific examples, if they are still active, links, etc.
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March 19, 2017, 08:47:44 PM
 #498

Hi Dev, How many Musicoins are in circulation?
Coinmarket cap doesn't show this info
             Cool
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March 19, 2017, 10:38:09 PM
 #499

Hi Dev, How many Musicoins are in circulation?
Coinmarket cap doesn't show this info
             Cool
You take last block at this moment http://nodestats.nomnom.technology/ and multiply at 314 ( 314 coins per block) 197 829 * 314. As you see total number of coins now about 62 millions

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Rikki_Tikki_Tavi
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March 19, 2017, 10:41:55 PM
 #500

Hi Dev, How many Musicoins are in circulation?
Coinmarket cap doesn't show this info
             Cool
You take last block at this moment http://nodestats.nomnom.technology/ and multiply at 314 ( 314 coins per block) 197 829 * 314. As you see total number of coins now about 62 millions

Hi rorschach1, Thanks!

     Wink
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