The block reward would start at 1 coin per block. Over the next 10 years (or other forcasted time-to-adoption period), the reward increases exponentially to 500,000 coins per block. Once reached, this reward is sustained forever.
Bitcoiners reaction
I think it would be an interesting idea.
I mean Bitcoin is the first of it's kind to combine computer power and a currency.
And, I agree with the new/better coin idea.
Without the "early adopter problem", who has the incentive to adopt it? BetterCoin might not have an early adoption problem, but it would have an adoption problem.
It's been suggested a number of times before under Inflatacoin, Keynescoin, etc. Nobody has cared enough about the idea to actually spend the time creating the new chain. People wouldn't buy or mine it because with inflationary currencies you either use it right now or you lose your purchasing power, and since there would be nothing to buy with it then the only option is to lose.
I ROFL'ed at the top post. But it seems that you're actually serious?
Please answer how we get over the early adopter phase in such a currency. People need incentive, and it's not enough to just say "it will take off", people need to believe why a never ending inflationary currency is worth their time.
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