rektoshi rektamoto posted on November 19, 2019 22:17:29
Everyone has the right to make their own tech project as long as they don't raise money with their coins with public sales and with misleading promises.
So far Bitflate doesn't seem to be raising money and they don't seem to make any promises either (and being transparent about the fact that the coin is not secure and not for business applications in its experimental phase). Seems like there is only 1 dev on this project, which has only a little Github activity so far. Basically it's just a bitcoin fork with some tweaks, the most prominent one being the perpetual inflation of ultimately 7% per year (which means that over time, any future Bitflate economy would have to grow at least 7% per year for the prices not to fall). It also means that the supply would double every 10 years; I am afraid this will be a bit too much over the long term tbh for this coin to hold any value.
I noticed the dev also posted a review, transparently and identifying himself as such, so all is well on that front.
The information is rather limited on a very minimal site, without an elaborate white-paper to make the case for this coin either.
Interestingly enough, the founder chose to use the old Dutch guilder logo/sign for his inflationary "stablecoin", however, although the old dutch guilder was indeed a stable currency, its monetary policy in the past was to be as low as possible with inflation. Just a side note.
No hard feelings against this project and I wish the founder/dev a lot of fun on their project, but personally I would not ever put any money in it tbh, all well meant intentions of the team aside.
pdo posted on November 15, 2019 20:08:52
I'm Bitflate's dev. So I am totally biased :). I hope to educate and spread the idea of an inflating crypto. I think it is useful to have a digital native and decentralized crypto with constant inflation. You can find more information about Bitflate on bitflate.org. Do You Own Research.
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