Change to 50B + 1% year until 92B and PoS for coins after (x) days in same wallets
+1
Why PoS?
I see "minting" as a way for removing big sell walls from exchanges. Actually, I am not sure if 1% is good Idea. Maybe 1%, maybe 5% and why not 20% for the first year. It is a matter of discussion. But reducing to 50 billions, oh boy, this is really good. Almost all of you disagreed for tech change that will make Karma more attractable for miners, by saying that is most important to make it more attractable for investors. Reducing the total supply + POS is a very strong move ahead. Of course, let everyone know about that and let`s see what will come up. May some genius ideas will pop up.
tampering with coin supply rate does NOT make the value go up. this is the same moronic logic that the federal reserve uses to manage and manipulate all USD based markets.
several times now the coin supply rate has halved by design and this has not caused any shift in the price of KarmaCoin at all. this is because the price of KarmaCoin is determined by the people selling (ie those who already hold coins) not by those people mining.
further more Bitcoins biggest selling point is that it is scarce resource and that is because the coin supply cannot be tampered with. once you start messing with it (up or down) you completely destroy peoples faith in that premise.
If you go past the point of no return there is no coming back... If you can reduce coin production rate arbitrarily then what is to stop you from later increasing it arbitrarily to suit your own needs?
the very second you alter the coins production rate in any way you are effectively destroying its deflationary nature.
by reducing the production rate of the coin all you are doing is reducing the amount of coins that go to miners thus making the coin less profitable to mine so you are effectively taking coins out of the hands of the people doing the work to secure the network and giving more power to the coins held by those people who already control vast amounts of coins. (This is called Crony Capitalism or Oligarchy)
Not only that but you are reducing the network hash rate and making the coin network more vulnerable to attack.
Maxcoin tried this trick and for a few weeks it seemed to work and then the price crashed back down again. In the short term yes it will benefit those people who hold the coin and want to dump it but in the longer term all it does is erode public confidence in the coin and concentrate power into fewer hands.
Seriously I cant believe people are even considering tampering with fundamental ideas of Crypto currency just to line their own pockets, especially when they are discussing the future of a coin supposedly based on Altruism. There isn't a coin in this world that could be successfully altruistic if it was being controlled by greedy mofos.
