Max Supply of Datacoin
One question I am being asked is the 2 billion max supply of Datacoin that will be produced.
This is something that we can discuss. For myself I have no strong attachment to the 2 billion.
Since the supply has already passed 28 million we cannot reduce it to 21. But we can certainly talk about 42 million as a possible stop.
-extro
If anyone has a decent technical argument to keep the total supply set at 2 billion I would like to hear it. 42 million would be a blessing, Imo early investors should be rewarded for holding dtc in the long term and not feel like they are invested in the Dogecoin for cloud storage.
To firstly call out the elephant in the room, if the total supply is changed, instant whales will be created - HugPuddle being one of them.
Full disclosure --> we control 500,000+ Datacoin (currently 1.76 percent of the money supply -- we've been mining on and off for years now)
Note that our intentions are not for riches, but for giving people a tool to immutably store their history and creations.
If there is a reason to tinker with the money supply to protect the Datacoin network, then I can see the need for a change, but if the network is fine as-is, changing the code is a slippery slope, especially changing the money supply... it can lead to damage of the network, and distrust from people on what developers might do next... make no mistake, this is a big deal.
That being said, if there is some fundamental flaw in the generation of said coin that could lead to harming the Datacoin network, that needs to be looked at.
I think the numbers need to be crunched very carefully.
I'd like the tech savvy people to weigh in on this:
What's the best level of money supply, block times, and data fee to sustain and protect the network?
That question needs to be the guiding light. Without a sustained and protected network, our vision of an environment for people to etch ideas/history/creations will not occur, nor will anyone's investment pay off.
There should be enough generated in a day to meet user storage needs, but not so much that it could clog/spam up Datacoin and cripple the network.
But note that this can be deterred by some kind of variable cost of storage/miner fee & block times, not necessarily by the amount of coin...
Also note that the problem with Dogecoin wasn't its high money supply necessarily, it was that it offered nothing unique to the eco-system for people to stay. Plus, the very thing that grew Doge, the miners, became irrelevant with the Script asic and the difficulty in getting next generation Script miners... GPU mining was key to their involvement.
I think GPU mining is important, and again, I think our guiding light should be what's the best level of money supply, block times, and data fee to sustain and protect the network over time.
Just some thoughts - I'm loving all the energy around Datacoin
