any chance the supply will get a cut in the future, i think what is holding back this wonderful coin, is the immense supply, if it can be reduced to million instead of billion would be better imho, i know it require a hard fork but its worth the risk
First I want to say our Dev Team is doing a Top Notch Job - keep it up!
Your suggestion needs to be analyzed. At this point the space has gone into "Hyperspeed" and we need dramatic and intentional moves. "Coin Reduction" would be a BIG MOVE; raising scarcity would increase value.
I would add that adding PoS immediately would be of great benefit as well. It's hard to park your cash in a coin that doesn't pay dividends for holding while almost all other coins that share our objectives are providing STAKING incentives. For the holder Staking represents some assurity during the inevitable "Pumps and Dumps" plus it provides a double incentive of value: The rise in coin value (XVG $1.00) + the Staking Dividend. For Hardware Miners it becomes a triple incentive if they choose to hold what they mine.
This is definitely a race, so reminiscent of 1999 with another emerging technology at that time. I know by these suggestions we're asking a lot from the Devs but I strongly feel we have a strong community willing and able to support our Team in whatever is necessary.
So, Coin Reduction + PoS = Rise in Coin Value
Btw, Coin Reduction becomes very meaningful when RSK is implemented.
nice sum up, thanks, so what is this RSK, a new feature for this coin? surely it come with great features which make me look forward to this project, but something is holding this coin back
any chance the supply will get a cut in the future, i think what is holding back this wonderful coin, is the immense supply, if it can be reduced to million instead of billion would be better imho, i know it require a hard fork but its worth the risk
First I want to say our Dev Team is doing a Top Notch Job - keep it up!
Your suggestion needs to be analyzed. At this point the space has gone into "Hyperspeed" and we need dramatic and intentional moves. "Coin Reduction" would be a BIG MOVE; raising scarcity would increase value.
I would add that adding PoS immediately would be of great benefit as well. It's hard to park your cash in a coin that doesn't pay dividends for holding while almost all other coins that share our objectives are providing STAKING incentives. For the holder Staking represents some assurity during the inevitable "Pumps and Dumps" plus it provides a double incentive of value: The rise in coin value (XVG $1.00) + the Staking Dividend. For Hardware Miners it becomes a triple incentive if they choose to hold what they mine.
This is definitely a race, so reminiscent of 1999 with another emerging technology at that time. I know by these suggestions we're asking a lot from the Devs but I strongly feel we have a strong community willing and able to support our Team in whatever is necessary.
So, Coin Reduction + PoS = Rise in Coin Value
Btw, Coin Reduction becomes very meaningful when RSK is implemented.
Yes to all of this.
This is not happening and it's a dumb choice on many levels. Dev has already discussed this. Read the post history before telling Dev what he should do. It's really assuming, naive, big headed, and annoying.
correct. i am not going to hard fork to take away users coins. that's absurd.
you would not take away what users have now, you woudl take away what the miners will mine in the future, none will lose anything
By doubling price you're not taking anything away: "if you have 2 Coins and they are each worth $1 and I tell you that if you burn 1 of the Coins the coin that's left will now be worth $2 will your worth still be 2$s"
Here's some of what I posted on last page:
".....the amount of $XVGs in my portfolio allocates the greatest portion of the pie. .....but like most on this forum I like what Verge has to offer in relation to its price.
Take away Coins? Say what?.... I agree that would be, if you allow me, "VERY, VERY STUPID" but that's not what I'm suggesting at all. What I'm suggesting would revolutionize $XVG and correct me if I'm wrong but maybe it would be a first in the world of Crypto. A halving of circulating supply with immediate doubling in price is what I'm suggesting; in the traditional Stock Market is called a Reverse Stock Split, we can call it "Reverse Coin Split". Here's how it will work:
Designate a block that when reached will half Circulating Supply while AT THE SAME TIME signal all participating exchanges, wallets to DOUBLE THE PRICE when that block is hit on the chain. To a certain extent Kraken did something similar with my account with ETH/ETC I've had double coins ever since that fork.
...The main objective is to overcome the "Psychological Barrier" related to circulating supply ...Things are moving too fast now and powerful new players are entering the space. It's just a matter of time till a new "Coin" a new "DAO" if you would, with the objective of being a transactional or micropayment Currency hits the space.
We have a slice of time in which we could become Relevant and if we miss the now in becoming "Great" it would be very difficult to do it in the face of a new coin created on the basis of the "Wisdom of the Crowd" and all the collective wisdom from all the errors made from existing Coins.
Cheers! Go, go $XVG"
