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
Just re-reading this thread and remembering my buy orders at 2 sat getting matched after a loooooong wait. Do you think it will ever hit 2 sat again ? Do you wish you had bought more then ? Will you flame me for writing an undignified comment regarding price (as some have in the past). Publish and be damned !
@henry well price is closer to 2 sats now. I think it very much depends on how far we are with ReddID, if we are far away then sure at some point price will drop down again, if however we get an update saying hey we are closing in and on June the first ReddID will be released, then it is bye to 2 sats forever :)