If you have been watching the Bittrex order book over the last couple of weeks you will have seen the buy orders at 2 satoshi thicken up from BTC3 to now BTC14. The market seems to be building a solid base at 2 which at least in the short/medium term should prevent the price going any lower. Meanwhile the sell orders at 3 satoshi have been thinning out and are now down to BTC5. That’s still a few days of average trading turnover, so don’t expect a price increase from 2-3 to 3-4 for a while yet. But momentum is certainly heading in the right direction.
Forming a strong base at 2 satoshi
It s good to see the 3 sat orders being bought on bittrex… i m wondering how much the reddcoin blockchain will be valued in the near future. By the way, i m concerned by the 5%/year rewards : that s exponential growth. it means that the number of available reddcoin tokens doubles every 72/5 = 14 years. Could the average staking rewards SR decrease with time with some scaling law? Is there any improvement proposal system “RIP” ;) in the works, as for btc (BIP) and eth (EIP)?
Honestly I was expecting that to take a bit longer. High volume (relative to recent times) and we’re up 1 sat to 3-4. Either the order book will grow at 3 or the price will fall back, all be it to a nice fat wall :) What happens now will be very telling ref market sentiment …
Based on if 100% of the network were staking your math would be correct.
However that is not the actual case.
PoSV will return approximately 5% reward of the size of each wallet staking.
It does not return 5% of the available coin supply.
Just threw together the following growth charts (5 year and 15yr) to visualise
There are 3 areas of interest
- 5% Inflation (Yellow)
- Actual Inflation (Blue)
- Linear Trend (Red)
THANKS for the Information