[Proposal] Multiplying all ZenCash holdings by 10


#1

Hello,

I would like to suggest one odd suggestion but hear me out.

My suggestion is to multiply all zencash holdings by 10 (as well as for mining, secure nodes stake and rewards, fees etc). This would make circulating supply grow from 3,570,625 to 35,706,250. Reason for this suggestion are people mentality and ease in trading/sending. As we are about to receive updated whitepaper soon I see no better time to suggest this.

This would also mean that value of 1 Zencash would decrease from $23.21 to $2.321 but everyone would have 10 coins instead of 1 in this example.

People mentality is following: They like to large amounts of smaller coins hopping they would get rich fast instead of owning few low max supply coins. This has lead to high market cap of (excuse my language) shitcoins like XVG or XRP having 10x or more total market cap value than quality coin like ZenCash.

Second is ease in trading/sending. People like to trade and send whole coins instead of decimals. Margin trading would also benefit higher total circulating supply than those of low circulating supply coins (when we are added to an exchange that allows ZenCash to be margin traded. As we can see on coinmarketcap, even Zcash that is one of the older cryptocurrencies is #27 on total market cap of the cryptocurrency markets.
One exception to this is DASH which has circulating supply of almost 8M coins and holds #13. Please check the rest of the list and their max supply and compare the benefits.

Please discuss cons and pros in this topic

Thank you


#2

The problem people have with decimals and that confusion is largely solved by wallets. Maybe start using milizen or zeni/zatoshi as value increases. Not sure how moving the decimal will increase the value of zencash, might just attract a ton of speculative investors that will dump zen the moment we come across a speed bump.

A 21 million supply cap crypto with 8 decimals of divisibility when normalized to 1 dollar per coin with just 2 decimals will have an effective market cap of 21 trillion.

I don’t think it adds any utility besides helping people with decimals in the short term. I don’t think it will take that long to be fully mined out if we go to a block DAG, could have 100s of blocks inside the 2 minute block time. There will have to be something done to slow the inflation from the DAG. I believe focusing on scaling and usability will be the biggest value propositions for zen to solve.


#3

This proposal is made by someone that doesn’t understand economics. By someone that hasn’t read the whitepaper.

It shouldn’t even be considered.

Supply vs demand. If you increase the supply by 10x you’d not only have to increase the current supply but also the maximum total of Zencash that will ever be created. This would require a hardfork.

If you increase the supply then you lower the price of Zencash.

Your reasoning for your request does not warrant the pain and suffering as well as coding that would be required to make such a change.

High market cap of coins like XRP or (even worse, NANO) is a FLAW. You don’t fix that flaw by giving Zencash 10x more coins. You fix that flaw by not using market cap or changing the formula for determining what creates the marketcap. If I have 1,000,000 coins and I sell one to my mother for $100. My mother loves me. She’ll pay $100 for it. That shouldn’t mean my coin has a $100,000,000 market cap. However, that is how marketcap is currently calculated by coinmarketcap.com. Maybe my coin is rubbish and my mother is the only person who will pay $100 for it… or worse, maybe she’s the only person that will pay anything for it. The remaining 999,999 coins may be worth $0.


#4

You are thinking as a geek, sure i know this is correct and it makes sense, but think more like a “regular Joe” and you will see I am right.


#5

I refuse to be trolled or get into a debate with you. “troll-olino”


#6

No this makes no sense as crypto holder and trader I would leave the project if such a thing was even considered. We don’t want a flooded market supply same reason why we don’t hold XRP XVG or many other as OP said sh1t coins. I hold this because low market supply similar to BTC LTC where this all started and NEO which pays a holding reward out…

This proposal makes no sense and I will not get back my time for reading it.


#7

A crypto that does something like what you suggest would demonstrate it has too much control over peoples coins and is ready to abuse that control in whimsical ways. Stability of price is a much bigger obstacle to mass adoption of cryptos than decimals.


#8

I disagree, smaller number of coins trumps larger number. Look at BTC. Large supply is a big negative when evaluating a token/coin.


#9

I support this proposal.
Apple did the same thing. Redenominating their shares made them more appealing to a wider market.
Many companies do this all the time.
In reality all that’s happening is the decimal place moves 1 or 2 spots. The value would of course drop, but more buyers would find the coin appealing as pointed out by OP.


#10

The counter argument is that nobody would want to even consider buying a coin that suddently tanked more than 90% in value.


#11

That doesn’t happen. Charts get adjusted to reflect the actual cost of a redenominated coin. This happens in the share market all the time.


#12

Afaik there have not been “stock splits” like this in crypto. So it’s hard to determine how exchanges and portfolio managers will act.
Considering the delay that cmc has to adjust coin supply of new tokens, I can only assume that a flash crash of Zen is possible.


#13

Fair point. CMC had BTC at 17 mill coins issued yesterday, then when the news spread someone checked their math and they had to roll it back.