Bitflate - Bitcoin with inflation

[dnprock 10]

23 hours ago, tisuacon said:

Woudnt bе plаn а cryptocurrеnсy that's inflаtionary by plan mirrоrs fiаt's ехpansion which сauses diminish tо its соntrol?

The different between digital native Bitflate and fiat inflationary is transparency. With fiat, you can't predict what the issuing authority may do to the currency. It's not in our control. With Bitflate, the rule is constant 7% inflation per year. It is set in the chain. Everyone knows. Bitflate use case is transactions. Bitflate is not an asset. Over long-term, BFL coins will lose value because of inflation.

[hexwin 4931]

2 minutes ago, dnprock said:

The different between digital native Bitflate and fiat inflationary is transparency. With fiat, you can't predict what the issuing authority may do to the currency. It's not in our control. With Bitflate, the rule is constant 7% inflation per year. It is set in the chain. Everyone knows. Bitflate use case is transactions. Bitflate is not an asset. Over long-term, BFL coins will lose value because of inflation.

I can also predict exact inflation in Ethereum coin,
so I don't see any rel advantage of suing Bitflate compared to Ethereum.
ETH network is much bigger, and established and it also has inflation.

[dnprock 10]

3 minutes ago, hexwin said:

We can see big and sudden price swings even in fiat monetary system ,and in many countries like Venezuela, Argentina, Zimbabwe and many other countres in history.
I don't see inflation is bringing anything good to people ... no mater how controlled it is 

We see big and sudden price swings in (1) hyperinflation (hyper expansion) and (2) very low inflation (hyper shrinking). They are two polars of monetary system. We need moderate inflation. That is Bitflate.

[hexwin 4931]

1 minute ago, dnprock said:

We see big and sudden price swings in (1) hyperinflation (hyper expansion) and (2) very low inflation (hyper shrinking). They are two polars of monetary system. We need moderate inflation. That is Bitflate.

Please read my previous post and tell me what do you think about that.
I think Ethereum inflation is around 15% if I am not wrong, and on PoS inflation will be around 2%.

[dnprock 10]

13 minutes ago, hexwin said:

Please read my previous post and tell me what do you think about that.
I think Ethereum inflation is around 15% if I am not wrong, and on PoS inflation will be around 2%.

I never fully understand ETH monetary policy. ETH lacks of transparency. It seems like they change a lot.

https://en.wikipedia.org/wiki/Ethereum#Supply

Wikipedia says ETH upgrade may change to 0.5% to 2%. They will change it as they see how market responds. I'm not sure how the decision gets made. With a low inflation rate, I believe they still want to be a programmable Store of Value.

Bitflate wants to be a transaction coin, not Store of Value. It's set with 7% inflation rate. We're going to stick with this design. I'd be very surprised if ETH decides to change to 7% inflation and compete with Bitflate. 🙂

Edited October 29, 2019 by dnprock

[hexwin 4931]

13 minutes ago, dnprock said:

I never fully understand ETH monetary policy. ETH lacks of transparency. It seems like they change a lot.

https://en.wikipedia.org/wiki/Ethereum#Supply

Wikipedia says ETH upgrade may change to 0.5% to 2%. They will change it as they see how market responds. I'm not sure how the decision gets made. With a low inflation rate, I believe they still want to be a programmable Store of Value.

Bitflate wants to be a transaction coin, not Store of Value. It's set with 7% inflation rate. We're going to stick with this design.

They can simply use a lot of stable coins that are on Ethereum network now as transaction coins,
or anyone can create token with any inflation rate they want.
Nothing against Bitflate, but I need to challenge your ideas 😉

Edited October 29, 2019 by hexwin

[dnprock 10]

2 minutes ago, hexwin said:

They can simply use a lot of stable coins that are on Ethereum network now as transaction coins,
or anyone can create token with any inflation rate they want.
Nothing against, Bitflate, but I need to challenge your ideas 😉

You can read about Ethereum monetary policy here:

https://docs.ethhub.io/ethereum-basics/monetary-policy/

> Ethereum's monetary policy is best described as "minimum issuance to secure the network".

I think they are open to change, but generally will stay with Store of Value. DAI stablecoin runs on Ethereum. I read their whitepaper. I think it's complicated financial engineering. Maybe DAI would work. I just don't quite understand how.

No worry about challenge. I did a fair amount of research on Ethereum before deciding to start a new chain with Bitflate. Starting a new chain is extremely hard to gain traction, especially 10 years after too many failed coin experiments. If there is a truly decentralized coin for transactions, my work will be done with Bitflate.