Hi guys,
A quick background: I have been following the cryptocommunity of DASH and PIVX for a few years now. And been lightly involved in PIVX. However I fail to see progress of that token to bring crypto to the masses. Here I believe in DASH.
When that is said, there is one thing that intrigues me with PIVX, and what I would like to bring to DASH: Their Inflation/Deflation mechanism. Before beeing shut down, the logic is as follows:
Each block time there is a number of transactions, and an reward. If the transactionfee, instead of being paid, was burned, then there will be inflation if the number of transactions is below the equilibrium. And if there is higher amount of payments:there will be deflation. Formula is ( Transactionfee x number of payments = reward per block.)
Reason for loving this logic is that the economic balance will be self regulated, instead of the world having central banks adjusting the interest rates to boost or slow the economy, the adjustments can be set in the system it self, and cannot be tampered without anyone knowing.
It also ensures that there always will be enough DASH in the system to keep the economy going: if there is a set amount of DASH available, hoarding is a real thing, since loss of wallets will remove access to coins for ever. And there will be a lower amount of coin available. WIth the Inflation/deflation model, there is no fixed amount of coin, so loss of wallet will not forever limit the available amount of coin.
I can understand the logic of fixed amount as this is similar to what gold is for physical "old" money. There is just one flaw in that logic from my view: Lost gold can always be recovered, sometime in the future, Lost Dash may never be.
Let the arguments commence
thanks
bug
A quick background: I have been following the cryptocommunity of DASH and PIVX for a few years now. And been lightly involved in PIVX. However I fail to see progress of that token to bring crypto to the masses. Here I believe in DASH.
When that is said, there is one thing that intrigues me with PIVX, and what I would like to bring to DASH: Their Inflation/Deflation mechanism. Before beeing shut down, the logic is as follows:
Each block time there is a number of transactions, and an reward. If the transactionfee, instead of being paid, was burned, then there will be inflation if the number of transactions is below the equilibrium. And if there is higher amount of payments:there will be deflation. Formula is ( Transactionfee x number of payments = reward per block.)
Reason for loving this logic is that the economic balance will be self regulated, instead of the world having central banks adjusting the interest rates to boost or slow the economy, the adjustments can be set in the system it self, and cannot be tampered without anyone knowing.
It also ensures that there always will be enough DASH in the system to keep the economy going: if there is a set amount of DASH available, hoarding is a real thing, since loss of wallets will remove access to coins for ever. And there will be a lower amount of coin available. WIth the Inflation/deflation model, there is no fixed amount of coin, so loss of wallet will not forever limit the available amount of coin.
I can understand the logic of fixed amount as this is similar to what gold is for physical "old" money. There is just one flaw in that logic from my view: Lost gold can always be recovered, sometime in the future, Lost Dash may never be.
Let the arguments commence
thanks
bug