[flavoral]

If I make a Cartel 100k after a Bytes cut then I did a statistic to show inflation in real-time then added a policy of a 30% cut each time we hit a certain inflation rate. I think that effectively controls the economy pretty well. I don't see any real downside to this.

I think this the best solution right now.

[System[X]]

why save bytes if in a few months they maybe cut again ?

EXACTLY! You actually help my point. If I make this a regular thing then it would imho encourage spending instead of hoarding. I think if I did it with set intervals like anytime inflation of bytes is more than 25% in a 90 day period then a Bytes cut will be done. Doing it randomly would suck imho. I could even create a stats page so you'd see where inflation was at.

The alternative to dealing with inflation is to just let it run the course and our 3.3m Bytes economy will be 30 million eventually and the 10k Bytes you have now will be worthless by comparison. I'm not sure I like how that would be.

So saving bytes to buy something, products in the Marketplace(not to sell bytes), awards from members, save to buy scratch cards(maybe) or even for crews, considering most crews have a set you need 5k bytes. I guess this is a bad thing that you want to avoid ?

If i save my money to buy a nice car, that's bad too.

I don't see how saving/holding/hoarding bytes is a bad think.

Yes byte price will go up, ppl who post a lot still get rewarded but what about items that you buy with bytes, like crews. With just posts alone you would never achieve enough bytes to start a crew.

IDK, i still see more positives than negatives to this.

Inflation does need to be addressed tho, sooner than later. This maybe a quick fix until something better comes along. I'm happy with whatever you decide.

Thanks

[Effexion]

Oh, oh. I see. You're taking half of everyone's Bytes and removing them from play to better the economy?

[βytes]

Many users here supported the idea, some opposed.
Consider you bought 100 gms of gold, got 10 gms as a lottery. Then after few days you learn that your Government is planning to take away 50% of your assets to stop the inflation.
I spent like $700+ on Bytes. From the 149K, just 30-35K I got from Scratch Cards.
If they get half, say 75K Bytes, I'll be at 50% loss. But there's no guarantee that Bytes price will be at $20/K.
NB: Price will not only depend on inflation control but the DEMAND. If demand goes down, you might see catastrophic decline on price in the opposite direction.
I'm against this change.
Especially, there was a change just a week back. Any similar changes may create negative sentiments among investors.

[Bacardi Cola Lime]

Inflation is not a good thing to have in an economy. It will do good for the prices combines with the release of the new game.
I can imagine people losing big time though and there's no guarantee that they will get their money back. Imagine someone that has spent hundreds of $ to buy bytes. My guess is that the value will increase but nothing is sure.

[Pyro]

Whatever u decide boss, i'm pretty sure u have a plan so I support it

[βytes]

Another point I'd like to add here.
The policy of cut might be a good idea when the demand gets much higher.
imho, 90% of HF users are still unaware of what Bytes are, many of them are upgraded/UB3Rs as well. So it might not affect them at all.
But those who invested big like me, Shelob and others (considering the future plans), will suffer the most.
One thing can be done to stop inflation. Why not limit/control the inflow of Bytes as of now? When demand and price go higher, more supply can be eminent. Just my thought.

[Dark]

You should also cut the prices of the purchases made available on-site for a short period of time if you followed through on the 50% cut.

---

Another point I'd like to add here.
The policy of cut might be a good idea when the demand gets much higher.
imho, 90% of HF users are still unaware of what Bytes are, many of them are upgraded/UB3Rs as well. So it might not affect them at all.
But those who invested big like me, Shelob and others (considering the future plans), will suffer the most.
One thing can be done to stop inflation. Why not limit/control the inflow of Bytes as of now? When demand and price go higher, more supply can be eminent. Just my thought.

That's a fair point. Thousands of members post here and carry a byte balance but have no intention of ever using or spending it.
It's hard to consider these as part of the total economy if they'll never move. I

[Yin Yang]

It’s a great idea, let the byte burn commence!

[Mix]

Since the release of lotto cards being paid for (which in no way is wrong) the value of bytes has decreased as there are more ways to make it with ease, and I for one think its great for the site as its more funding for everyone, But if everyone ho has a load of bytes that have been saving for a crew/reward it would make a huge fuss as it would make everyone a bit pissed and mad because they have wasted all that time. the idea of halfing everyone's shit isnt the way forward in my view But I cant say I have any other ideas on what to counter it with.

[TCP]

Implement a bytes tax(or multiple ones) to reduce inflation, for example make the bytes necessary to access some threads or sections or tools

Make it so people have more ways to spend bytes without giving them to someone else

[Velma]

I think that you should do it as if you don't one day bytes will be worth nothing. but i would say at least give a warning when the bytes would get cut in half or how ever much it will go down by.

[βytes]

Implement a bytes tax(or multiple ones) to reduce inflation, for example make the bytes necessary to access some threads or sections or tools

Make it so people have more ways to spend bytes without giving them to someone else

Nice idea.
There's already a tax like thing on Award Market.
If I buy any Award for 6,000 Bytes, the Seller gets 5,000 and System takes 1,000 as "Award Transfer fees"
Implementing to have certain number Bytes to access certain feature on Forums ain't a bad idea at all. This will surely increase the demand.

[Shelob]

Wait so im like 700$ loss? i can't believe it

Thats a bad idea, if you're trying to solve the inflation by cutting 50% of our bytes instead of having ACTUAL things to spend bytes on, fees and so on like others here suggested or the future game for example, and if you're hating the idea of holding, crypto game is actually a game meant for holding like i have some bytes there, that would be considered even more loss if its getting cut.

[Pikachu]

I'm still kinda lost, so everybody's bytes will be cut to a certain percentage (removed from their account) ? So if someone had 1k bytes and there was a 50% cut or whatever, they will be left with only 500?