1. Reduce tax the tax to 10% - get rid of price stabalization and reserve until we have them all developed and ready to function on the network this could be a future update. ?
2. We can still have the 10% tax for us to keep developing features and advertise
3. We maintain a constant block figure. Instead of increasing 3% each year we keep it super simple and keep the rate constant.
Thank you sphere so much for taking these ideas seriously and quickly.
The biggest concern I have with this idea is that we would be temporarily deleting one of two Unique Selling Points of the coin. Stable price and backing up of the currency.
I agree with you - if you remove the features, than GLB is just another copycat alt-coin. ?I believe the reserve will be super important to the corporate investors. ?But we need a third party. ?Multi-signature is good, but.... third party is always the best. ?
I completely agree with you that this is a very bad idea. Price stabilization and reserve are the unique points of Globe, and are exactly the reason why I like Globe.
I totally agree with you guys that price stablization is the most attracting feature of GLB.
Instead of using third escrow to frequently trade GLBs, let's think again the idea of price stablization. How stable do we want? How to decide the value of GLBs? The best option is to let the market decide by itself. By trading, people can get profit. So we cannot make price stable as fine-grained levels. Now recall why we love price stablization? Imagine one day, if all cryptocoins crash to zero value. The GLB will still have values, because the GLB reserves in USD, Gold, or something else. If the total reserves worth 1 million, every GLB owner will share the 1 million when all cryptocoins crash to zero.
For the third party escrow, we can keep discussion to find the best solution. We still have time. Rightnow, we can find more trusted people to keep the reserves. And sphere has already started doing this.
What you could do, but I think it's a little early for that, is reduce the amount for development and advertisement. If the coin becomes valuable and popular, less advertisement is needed. Also less Globe would be valued at the same amount of fiat, so less Globe would be needed to pay the devs. (Imagine bitcoin with 10% tax for dev/advertisement. This would have been reasonable when it started, but not anymore today).
I agree that we can keep the 10% for reserves, but less for dev/advertisement.
sphere, you can update the code that after some blocks, the dev tax is reduced.
Removing the inflation could be a good thing for the value of Globe, but of course there would be less Globe in total. The problem I have with inflating cryptocurrencies is that, contrary to fiat, you usually do not get interest on your 'savings'. So, your savings decrease in value every year, instead of staying more or less equal in value. This stimulates selling/using Globe, but does not stimulate long term support, or saving some for later use. So, I would say either keep the inflation, and add some kind of interest rate, or remove the inflation.
It's a very interesting idea. If we give GLB holders some interest, like 2% annually, then we can fight for the inflation. In this way, more people might hold GLBs, and then less GLB on the market. As as result, the GLB value itself will grow slightly. That is, more valuable instead of more stable. :-)
Overall, I think people like the idea of price stabilization very much, understand the tax for dev/advertisement at this moment, but prefer to reduce the tax for dev/advertisement for the long term. Moreover, think about the 'saving account's interst'. It looks intersting and innovative.
