The Halvening is Happening!
Forget the bitcoin halvening; forget the hype for next year; there's better news on the Steemit horizon coming in the next week.
Yes, Neoxian City Silver is halving it's print rate. Which means if your upvote usually makes 50 neoxag, then it will make 25. This isn't a bad thing of course; it only means that our city coin will get rarer and rarer, which will hopefully be a nice boost to our price. There is also a massive sell wall of neoxag for those of you that want to get out!
What does this mean for you? Well, only that hopefully the value of your stake will be worth more. There is no change to the distribution. So far it still stands like so:
Forum: 60%
Miners: 30%
Staking: 10%
The amount of Neoxag being printed is reduced by 50%. That means an author that averages 600 neoxag per post will now probably average around 300 neoxag. The same for those using their stake to give upvotes; if a 100% upvote is normally worth 60 neoxag, then it will be worth 30 neoxag now. The same will be for staking also; if you're someone like me that enjoys earning from the neoxag in the bank then if you earn 40 per day from your stake, then now you will stake 20. Your staked Neoxag will still be the same though! Only the neoxag earned from it will be halfed.
Think of this as the same way in which bitcoin halves every so many years. When bitcoin halves, then miners are rewarded with 50% less bitcoin. For example if a miner regularly mines 1 bitcoin per day, then after the halvening it will earn 0.5 bitcoin per day.
Some may take this news as bad news, but please don't. Halvenings are always good for coins -- in the same way that Bitcoin shot up in the last one from $500 to $20,000 at it's peak. Now I'm not saying that we will see growth like this but realistically it's all about demand and availability economics. The less something is available, and the more in demand it is, then the higher the price will be.
I do have a suggestion for those of you that may be a bit put out that your hard worked upon stake is being cut in half --buy more whilst the price is decent. Because I can hazard a bet that the price won't be decent for an unlimited amount of time.
I like the change personally, and that's because I bought up a lot of stake right when I joined. I knew I was onto a good thing, and that I could get involved with the whole experiment. So I like it. Less availability to me means that my stake will be worth more, hopefully!
What are your thoughts?
Thank you for supporting @CatsMakeKittens by being a part of our community @raymondspeaks.
Each CATS you purchase gets you daily upvotes from me @CatScientist as our community grows so do your rewards for being a member!
No, thank YOU! You've 50%'d my investment already :)
Our stake is going to be cut in half too?
That doesn't make much sense... everything else sounds great but making half of my neoxian dissapear sounds too much like magic.
No - no stake being cut in half! Your staking "earnings" are though :)
So if you have 10,000 neoxag staked and earn 100 a day from it, you'll now earn 50. Your staked neoxag will stay the same though :)
Yes, that makes that much more sense. I don't mind my vote being worth less, but I sure would mind my stake disappearing!
same!! If 50% of my stake went poof then that would be 50,000 neoxag - and I wouldn't be happy, I'd be on here screaming about it haha :)
Need to change my wording - thanks for noticing :)
Great news. I need more.
awesome! You can join me in buying up swathes of them lol