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Discussion: Total Supply and Coin Halving Model #9
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This is the spreadsheet going into detail of Ellaism's coin supply model with comparison of Bitcoin: https://docs.google.com/spreadsheets/d/1v3T6gRupH4C4Zx3B60fOOIqFiilItSpVTszEHjyIPIw/edit#gid=640070299 Basically, Ellaism is similar to Bitcoin2x -- if Bitcoin's block time is 25 minutes instead of 10 minutes, Bitcoin and ELLA would have similar 50% and 90% checkpoint. |
Interesting. I think the philosophical difference between Bitcoin and Ellaism is how long the cryptocurrency market would stabilize? Looking at crossing the 3% annual inflation rate (I think after that it is just tail emission and doesn't really matter much), Bitcoin thinks it takes around 10 years from 2009, but Ellaism thinks the number should be 16 years from 2017? Well.. doesn't sound too unreasonable. There're other coins with many more different choices. Looks like Litecoin will cross the 3% point around 2023 (12 years). Monero reaches the 3% point in 2018 (4 years). Dash reaches 3% point in 2026 (12 years). I hope economist can jump in and give some lights for those different "supply models"... but before that, probably nobody would know whether Bitcoin, or any other coins, do this thing more right... |
Inflation with a Crypto is interesting as a whole as it doesn't mirror traditional currencies. One may argue that inflation doesn't happen when coins are mined, but rather when they are in circulation (ex miner sells position). This is one of the fundamental differences in the crypto space (VS government). Which also adds another dynamic to the equation as a whole. When we discuss supply (coins mined), and inflation I think it's also important to discuss demand and the velocity of money. I'd personally be apt to say that investor interest may be determined more broadly on demand, velocity of Ellaism, utility and uses in the earlier years. |
I was asked recently about why the halving block number is 10 million but not anything else (for example, in ETC, it is 5 million). The original consideration is to make the monetary policy to have:
Many coins (like Monero and Ubiq) choose to give (2) priority by simply not having (1). So I was looking for a compromise that allows us to have both (1) and (2) with reasonable configurations. Comparing with using 5 million and 10 million as halving points, the former reaches 3% annual inflation rate only 5 years early (13 years vs. 18 years). However, the later halves twice as slower than the former, which gives us a good tail emission. So 10 million as the halving point was considered a good compromise to allow us to have both (1) and (2). |
There was a discussion happened on Discord about Ellaism's coin halving model. It is copied here for future reference. Please also feel free to put your thoughts into the comments.
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