[Pray]

Are there not more elegant solutions to control for inflation and create more bytes products? Like an auto-bump bot, maybe an award you could buy for bytes only (50k or something), weekly/biweekly admin hosted lotteries with high house cuts, that type of stuff.

I understand increasing incentives to spend on other things and what not is a more long-term solution, but it seems a lot less disruptive to the market than halving the total supply. While it seems fair, it's definitely going to affect those who are hoarding disproportionately compared to those who are not if the market doesn't stabilize in the exact way proportional to the cut in supply. And if the market doesn't stabilize in that way, let's say each cut is 30% but the market prices for bytes only increase 20%, then I think people will be way less incentivized to buy bytes and participate in the system at all given the value loss and volatility.

[Omniscient]

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.

Bad analogy because Bytes are not a physical item like Gold. And I assume government taking your gold means they are taking it for themselves. The Bytes would just be destroyed. Currently you own about .5% of all Bytes. After a cut you would still own .5% of all Bytes. You think your 150k is nice but what happens when I have to increase group price to 250,000 Bytes, then make posting rewards and bonuses twice as much. I'll have to give 10,000 Bytes for upgrading to L33t. There has to be some controls. Bitcoin for example has it fixed to maximum number. We don't have that. We could have 100m Bytes in our economy then 1000 Bytes will be worth 1 penny or even less I imagine.

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.

I would do no such thing.

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

But because of inflation I was forced to raise the price of the Cartel Crew to 200,000. So what's the difference?

Either on my end for all HF services I increase Byte rewards and fees or I do a Bytes Cut based on the inflation. It's one or the other. I prefer a Bytes cut because it's quick and fair and across the board.

But I cant say I have any other ideas on what to counter it with

Correct. There is only 3 ways this can go. I change nothing and allow inflation or just hope for the best. I continue to allow inflation but adjust prices as it goes. Or I do a Bytes cut. I think that's it.

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

That's silly.

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

We continue to add ways to spend Bytes and the game is going to be part of that.

MYPS FAQ

Based on posting about 400k-500k Bytes are added to the economy each month. I ran the queries for Bitcoin paid scratchcards and those are only 215k β.

Personally, I think cuts to scratchcard, blackjack, and slots rewards are a way to start reducing the inflow.

All the gambling games are actually fairly set and do not create as much flow to the Bytes economy as you'd think. They have stats pages. Go look for yourself.

Also, I'm looking not at 50% cut. More like 30% really.

An example would be a button to bump your thread for 25 bytes a bump

Not a fan of that feature. Only slightly less annoying than the HIDE tags.

I'm not against cutting bytes by a %, but I think exploring other options to remove bytes from circulation should be explored as well.

Even if more options are added those are more long-term because they have to be built and implemented. Short-term how do we deal with inflation?

Another option could be if you want to junk one of your posts you need to pay 100 bytes for example.

Members will never get JUNK again. That's DONE.

If everyone is going to be constantly selling their bytes or looking to get rid of them for fear of devaluation,

I don't understand the logic. If you have 100k Bytes and after a cut you have 70k but the groups are 100k again then aren't you better off than if I just keep raising prices and going along with inflation.

I've been a good admin and controlled inflation. I could have been extremely liberal with their creation and spending but I'm looking out for you guys. If you guys all want to be Byte millionaires we can make that happen. Instead of 1000 bytes being $10 I'll just make it so you get 100 bytes per post and charge 10m Bytes for a crew. Some of you don't get it. I'm trying to create a policy AGAINST inflation. If you want inflation....then just tell me.

btw, Cartel Crew is now 1 million Bytes! Enjoy inflation guys.

Oh and earnings for posts...just dropped too. Now you earn 1 per reply and 2 per thread and .2 for replies to your thread.

I'll start making adjustments then on my end if members don't want me to cut the account Bytes. I'll control inflation with other measures.

Everyone against this is going to greatly regret it.

[Riyu]

Cut them in half. Fuck anyone who is against that.

[DOG]

woooooowww my brain is hurting me right now. Too much drama as always. Everytime Omni is doing something big drama is popping and as always it dies. like rep, scratch and much more...

At the end Omni always fix shit and at then at the end everyone is happy, so why dont we just wait and see how this will all go lol.

[packofmidgets]

would purchases for awards or things like paying for a new crew or abilities be cut in half each time as well ?That would be my only concern. It would be impossible to afford a new crew if this were to happen without crew price being cut in half as well. But otherwise I do not see why this would be an issue. If someone is using them to make money from selling them then I can see them having an issue. I just like to live stream playing slots so it would not really effect me personally.

[Xerotic]

So is the plan to cut bytes in half every 3 months?

If that’s the case, I’ll be investing all of mine in the crypto game.

---

If you are doing this cut only because of the cartels, don’t.

A small small SMALL fraction of members will be buying one. Just increase the price for them.

It isn't hard for us to cut crypto game portfolios in half either.

-Byte Wallet
-Crypto Game Portfolio
-Crew Vaults

[DOG]

It isn't hard for us to cut crypto game portfolios in half either.

-Byte Wallet
-Crypto Game Portfolio
-Crew Vaults

You should cut your bytes in half to me :D 🎉

[Crypt]

My point is that if our bytes will be cut in half every x months, why even try to get bytes?

We’d either spend them all before the cut or just say fuck it and not go out of our way to get them.

I’ve been intentionally saving mine up to give away and now half of them will disappear? Seems like someone fucked the math up and cut the rate at which you earn them.

(Not pointing finger, but it’s kind of BS)

I misunderstood the thread. I thought the number of bytes per thread/post etc was going to be cut in half, not overall how many bytes you have will be cut in half.

Yeah, I think this would cause people to lose interest in bytes and why save up bytes if you know another cut could be coming.

[PerfectStorm]

Guys I think he said 30 percent cut instead of 50 by the way.

Would these cuts be something that would be repeated every such amount of months?

[Pray]

Guys I think he said 30 percent cut instead of 50 by the way.

Would these cuts be something that would be repeated every such amount of months?

Omni said there would be a cut every time an inflation rate would be reached, at least that's the idea. here

[Crypt]

Omni said there would be a cut every time an inflation rate would be reached, at least that's the idea. here

This would be equivalent to the government printing a bunch of money and as soon as it hits a certain amount they take 30% of it back to control the amount in circulation. That's just not a smart system, you need to control the economy so it doesn't get to that point.


You can make more games to play or give bytes more use somehow.

[Pray]

This would be equivalent to the government printing a bunch of money and as soon as it hits a certain amount they take 30% of it back to control the amount in circulation.  That's just not a smart system, you need to control the economy so it doesn't get to that point.


You can make more games to play or give bytes more use somehow.

In a sense, but it's a bit different because there are ways to battle inflation and maintain it at to a certain level (in the real world) that would probably be too time costly and ultimately not worth doing on the forum for bytes.

The ultimate goal for Omni and the market in general, through this entire discussion, is to have bytes essentially move very little or not at all from a certain amount of supply. This doesn't need to happen with a currency because markets, jobs, etc. all adjust for it and change prices but that's kind of a hassle to do with crew prices, fees, etc. by hand - plus you don't want to see millions of bytes on everyone as time passes due to inflation. Ultimately the problem lies therein: Too many bytes are being added into circulation through posts, threads, etc. that people are sitting on and aren't spending in ways that it goes back to the "house" (forum).

My argument is that the proposed idea is fine and has its pros and cons, but ultimately it doesn't really solve the core problem - not enough people being incentivized to spend their bytes in ways that the bytes supply controls itself and keeps itself in check. Omni did state he would do other things, as well, to account for that so it's more of a forked attack at the issue. The ultimate, ideal goal should be the supply and economy controls itself and the cuts aren't required, in my opinion.

[SUI-3183372]

Not a fan of that feature. Only slightly less annoying than the HIDE tags.

Yeah it wasn't really a proposal for that feature specifically, more towards a new type of bytes usage and that was the first relevant example to come to mind. What I meant was just forum actions that cost bytes to perform.

Even if more options are added those are more long-term because they have to be built and implemented.  Short-term how do we deal with inflation?

You're right, my suggestion assumed we'd be fine waiting for new features to be developed. Outside of this post I haven't see statistics related to bytes so I'm not aware of rates associated to different byte generating features. You do have the stats though, if you feel that action needs to be taken sooner rather than later then that's entirely fair.

Short term, I think your proposal is fine, both at 30% or 50%. Then I'd dedicate time here and there thinking about features and forum actions that people can dump bytes into that removes them from circulation so we can delay having to do this again for as long as possible. I aware the game will be a massive byte sink, however I think ideas outside of the game should still be explored as well.

I don't understand the logic.  If you have 100k Bytes and after a cut you have 70k but the groups are 100k again then aren't you better off than if I just keep raising prices and going along with inflation.

Yeah I'm not sure where the confusion is coming from...
I get that it's not a total fix for the problem, but it could set us back up at a good base where we can continue to work on adjusting bytes coming into circulation and create new ways for bytes to go out of circulation.

Everyone against this is going to greatly regret it.

Unfortunate.

[Crypt]

I don't understand the logic. If you have 100k Bytes and after a cut you have 70k but the groups are 100k again then aren't you better off than if I just keep raising prices and going along with inflation.

I suppose when you put it like that I support it. I still hope more ideas are brought forth to use bytes in order to try an prevent a cut for as long as possible.

[mvmt]

This makes literally 0 sense economically.