Bitcoin inflation: 8% since last bubble

[V500]

9 months - 30 days a month - 3600 new coins a day

9*30*3600 = 972.000 new bitcoin since the last bubble. 8%
Bitcoin has an inflationrate twice as high as fiat right now.

It could very likely crash. Why?

Satoshi created the halving schedule according to society (give everybody time to get educated and buy in). He did NOT create bitcoin according to the nature of the internet, where information spreads within days and hours.

The last bubble was a reaction of the net. The information about bitcoin was spreading fast and people were buying. Well, now the inflation is too high and it will be for the next 2 years the same. Holding bitcoin doesn't make sense now.

I am personally holding unobtanium (uno) because that is halving every 208 days - much more according to the net. It is also designed in a way that it could take bitcoins place (sha256 - 3 minutes blocktime). Miners can switch over very easy. Max coins 250k, mined: 191k, mining schedule: 300 years, currently 30 new coins a day. After october 15 new coins a day. 4 and a half months later halving again.

May i ask why people hold on to an inflationary coin that was clearly not designed to be adopted by an internetpopulation?

Uno provides a real solution here. I am personally not holding btc because i know when it crashes below 300$ despite the paypal news it may very well crash back below 100$ in which case the fail will become obvious and people will switch over to unobtanium then because that is fit to be a currency aswell (fair start, good distribution, small and fast chain, well done, no premine, not greedy dev (he did it for free/donations) etc). Uno is basically bitcoin on steroids and will take its place in case of a totally failing bitcoin due to an shortsighted halving schedule.

It's not even a point of discussion if the bitcoin halving is flawed or not. It is. This is the internet. Can't halve only every 4 years. This shit will never get off the ground if it dumps now on paypal news. Just sayin'. Switch to Uno.
Bitcoin may very well decline until it halves in 2016. By then nobody will be interested anymore. Uno provides what an internetpopulation needs: fast halvings, low inflation, solid code.

[mvalley]

I think paypal was considering processing UNO initially but then switched to BTC after they realized UNO was a piece of shit going nowhere.

[V500]

I think paypal was considering processing UNO initially but then switched to BTC after they realized UNO was a piece of shit going nowhere.

the argumenative value is overwhleming. This wasn't primarily thought to be promo for uno but mainly a thread about why the inflation of btc is too high and what will happen when it fails because of that. Will people hold on to a coin with extreme inflation or will they wisen up and swith to something more sane?

Saying "xy is a shitcoin" is a comment like no comment, honestly.

Well, in the end it will be decided in the markets. I am just saying: bitcoins inflation is insanely high and the mining-schedule wasn't designed for an internetpopulation. The next best coin which solves the problem is uno, like it or not.

[MoreFun]

This is well in advance prepared article that is being posted at the right time to make despair and FUD. Congrats dumpers, different strategy instead of spammers.

[V500]

This is well in advance prepared article that is being posted at the right time to make despair and FUD. Congrats dumpers, different strategy instead of spammers.

paranoid? I wrote the thing from the top of my head 10 minutes ago. Just because i realized bitcoin could crash on paypal news - and the reason being inflation.

I see a lot of people being emotionally attached to their coins which isn't a good strategy at all.

Bitcoin first mover and all, but hey - that inflation wasn't designed for the internetpopulation and is really bullshit. Not trying to talk you out of your btc. Keep holding them. Inflation is still 10% a year.

[mvalley]

I'm just busting your chops, but yeah I understand your point.

 I feel the dynamic is different in the sense people before would mine all these BTC coins and hold on to them but with the commercialization of mining, it's different now with the majority of miners dumping their coins ASAP. That puts a lot of downward price pressure on BTC. Who is buying up the $1.5M of coins dumped daily and will they continue to buy them?

[V500]

I'm just busting your chops, but yeah I understand your point.

 I feel the dynamic is different in the sense people before would mine all these BTC coins and hold on to them but with the commercialization of mining, it's different now with the majority of miners dumping their coins ASAP. That puts a lot of downward price pressure on BTC. Who is buying up the $1.5M of coins dumped daily and will they continue to buy them?

exactly. Halving too slow. Too much pressure from miners. People would like to buy it and make profit, but they can't.

It is constant good news for btc. Now paypal. And that shit dumps more? Are you kidding me?

uno and btc swap places and the coin is 100k$ next year. Uno is that coin that can go up and up and up if it was adopted on large scale.

Crypto can be adopted. People are ready for it. But hey, fiat has less inflation.

[Hunyadi]

...failed UNO promotion...

Is bitcoin's inflation news to anyone? There will be max 21 000 000 bitcoins.

[V500]

...failed UNO promotion...

Is bitcoin's inflation news to anyone? There will be max 21 000 000 bitcoins.

sure. But number of coins is not as interesting as the inflation. Doesn't matter if 93 billion doge, 250k uno or 21mil bitcoin. What matters is the inflationrate. And that is where bitcoin fails.

Don't take shit so personal. I am not trying to talk you out or into anything. I am just making the point that bitcoin halving schedule wasn't designed for the net.

Be prepared for complete failure in case btc dumps back below 200$ or even 100$

I mean, hello?! paypal. And it dumps more on those news?

Higher inflation than fiat. You can't sell that as digital gold, honestly.

[mvalley]

I think the reality is that tigerdirect, newegg, paypal, etc actually aren't good news. I'm starting to look at them as more marketing gimmicks

If you trace the coins, it goes like this:
1) Miner has coins, goes on newegg and buys some computer part.
2) Newegg flips around and has to now sell those BTC immediately for USD on an exchange which just puts more sell pressure on BTC


Now imagine paypal with its transactions volume and you'll see that its putting even more downward pressure on BTC.

What we really need are entities that pay others in BTC. Like paying employees, etc. That would actually help the BTC cause.

[gizmoh]

Thanks, but No thank you. Not in playing mood..

[Ibian]

We have another troll gentlemen.

I'm giving you one chance to reverse that judgement. Post the technical specifics of your pumpcoin and why that makes it better than bitcoin. Go.

[Hunyadi]

I think the reality is that tigerdirect, newegg, paypal, etc actually aren't good news. I'm starting to look at them as more marketing gimmicks

If you trace the coins, it goes like this:
1) Miner has coins, goes on newegg and buys some computer part.
2) Newegg flips around and has to now sell those BTC immediately for USD on an exchange which just puts more sell pressure on BTC


Now imagine paypal with its transactions volume and you'll see that its putting even more downward pressure on BTC.

What we really need are entities that pay others in BTC. Like paying employees, etc. That would actually help the BTC cause.

Yes, you shouldn't be able to actually use digital currency to buy something. NOW I GET IT! UNO is a lot better! 

[mvalley]

The UNO stuff is silly. I think altcoins mostly confuse the masses about what cryptocurrency really is.

[Hunyadi]

The UNO stuff is silly. I think altcoins mostly confuse the masses about what cryptocurrency really is.

Endless number of alts...infinite inflation 

[V500]

@cardsgame: lol. It is 'unobtanium' - cryptographic dreammaterial ... well, just the branding.

@specs:

first 2000 blocks 0.001 coins to come up
2000 - 102000 blocks: 1 coin
halving then every 100k blocks until hitting final reward of 0.0001 uno per block + transactionfees
blocktime 3 minutes (faster of course)

chain: smaller, solid
max coins: 250k
sha256
no premine or other bullshit. Community-managed. fair coin. No ripoff bullshit. Take a look for yourself. It's fit to be a currency.

main feature: minimal inflation, store of wealth, fair

what more to say?

[Hunyadi]

@cardsgame: lol. It is 'unobtanium' - cryptographic dreammaterial ... well, just the branding.

@specs:

first 2000 blocks 0.001 coins to come up
2000 - 102000 blocks: 1 coin
halving then every 100k blocks until hitting final reward of 0.0001 uno per block + transactionfees
blocktime 3 minutes (faster of course)

chain: smaller, solid
max coins: 250k
sha256
no premine or other bullshit. Community-managed. fair coin. No ripoff bullshit. Take a look for yourself. It's fit to be a currency.

what more to say?

[V500]

gifs have also not the slightest argumentativ value

what we come down to is: bitcoin is with this inflation not a good store for wealth.

[Ibian]

@cardsgame: lol. It is 'unobtanium' - cryptographic dreammaterial ... well, just the branding.

@specs:

first 2000 blocks 0.001 coins to come up
2000 - 102000 blocks: 1 coin
halving then every 100k blocks until hitting final reward of 0.0001 uno per block + transactionfees
blocktime 3 minutes (faster of course)

chain: smaller, solid
max coins: 250k
sha256
no premine or other bullshit. Community-managed. fair coin. No ripoff bullshit. Take a look for yourself. It's fit to be a currency.

main feature: minimal inflation, store of wealth, fair

what more to say?

So the difference is the distribution rate, and more orphaned blocks. Not impressed.

Waiting for the part where you explain how, precisely, any of this is better than bitcoin.

[bank2]

gifs have also not the slightest argumentativ value