Greetings. I have some concerns.
This change gives me the impression that the Starbit price will settle or force it to stay at the price it is hovering at (about 0.000068). Given the possibility that i am wrong, if the price ever goes up will this formula ever be reversed?
I know it is very difficult to have a crystal ball to predict the future, but also thinking about the users, didn't it seem fair to modify the formula when the Starbit price was around 0.00030?
I had also read some time ago that there was a kind of Starpro supply (a pool) to be distributed for certain periods, we are in a period where 100 Starpro are distributed daily, then came another period i think 50 (I do not remember very well) where less were distributed, then another with less supplies and so on. All this with the intention of always revaluing the Starpro. This change that you are making does not affect the plan you had proposed? and if so (we do not always reach the 7M Starbits to burn), how will the pool change? How will the plan change in general?
I am not sure where you read about the STARPRO halving. That is not something we would ever do. STARPRO gets issued at a maximum of 100 per day for 10 years.
Yes we should have modified it earlier. We only just thought about it recently and to be honest it wasn't really a problem until the bear market took hold.
Once we go back into a bull market we anticipate an increase in players again which will mean more demand for STARPRO and more burning of STARBITS.
I think i got confused in the information and stated that in the third point.
I guess this change does not affect any pre-established plan and because of the constant changes in the crypto market in general, it does not hurt to make provisions.
I guess many of us like this game a lot and there are always concerns when changes like this happen, i mean they are a bit out of the ordinary and it breaks the natural course of the game a bit. Hence, i share @jesustiano's opinion that these control mechanisms may affect the game if they are not carried out with caution.
You have my full support. Thank you very much for the clarification.
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Hopefully, but there is a chance that the bear market stays until it ruins the economy of the game... Is a chance that can happen and is not exactly a slight one as the SP value is still on a downwards trend, for now. Ironically i love sp and music promoter, did some money with it but when i noticed my hand having a bad effect on the market, stopped and pulled out my money to avoid futher damage, I retired from it while it was a 9.2. Now at 4.2 im thinking it will probably stop when it hits 2.5 or 2.7 and then go back to an uptrend :)
Still, he didn't quite say halving, but i guess he just mistook information and mixed it up, btw how would you deal if starbits value keeps crashing down? Is there a way to reinforce it?
1> It will fall a lot, starbits in forced change system will not hold, neither any currency ever, for example, see luna.
2> this formula is only made to protect sp and boost it, that is all to it...
3> The pool is cheaper than the music promoter currently and with this supply choke it will become a lot cheaper to music promote when starbits current value goes to shit.
This update is kind of a really bad idea, but well, is not like we saw Dark cristals fall in value to 1/100 of its all time high for a similar system control of its currency...