Limited amount of Cryptos as a strategy - WaykiChain
For several months now I have been keeping up with the new WaykiChain Blockchain and how its global financial ecosystem is evolving, and there is something very particular that, among other things, caught my attention. It's something that I particularly think is a big plus for the long-term price increase of its cryptocurrency.
Beyond the supernodes that it has, it's that value point that it has in relation to the limited number of circulating cryptos, only 210million WICC are available, and they are all in circulation. And they note in their project that "In the future, it will only increase by a negligible amount. "
Well, in what way do you think this limited amount of issuance can benefit its price?
I am going to try to explain it with something that is happening today with the still- world reserve currency, as is the dollar, this currency until the 70's was anchored to GOLD, that is to say, if the United States had 1000million dollars in Gold, it could have 1000million dollars in circulation.
So, there was a limit to the printing of dollars, now what happens?, from this decade of 1970's that GOLD standard was eliminated, or that left open the possibility of UNLIMITED printing of dollars.
And this in turn has resulted in the fact that these overproduced dollars have no backing, with the consequent depreciation of their value. That is to say, now you can buy much less with 100 dollars than you could buy 10 years ago or more. I emphasize that I am not a specialist in Economics or anything like that, but there is a lot of information on the subject.
Now, what's the point of what I said above, I told you that only 210million WICC are available, and they are already in circulation. This allows that in the long term, it does not lose value by indiscriminate and unlimited production of this crypto, and it was created under such a perspective, that the uptrend based on a limited amount is what is projected.
In general terms we could say that 21,000 people (worldwide) could have 10,000 coins, which shows that it really is scarce, and this sense of scarcity is foreseen that, as its use increases, it could procure an increase in its price.
So each project is looking for a way to contribute to the growth of all and the prolongation in time.
This is part of the strategy of the team behind WaykiChain.
I say goodbye, wishing you a great weekend.
Thank you very much for reading my post.
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Hello @josevas217, I think that this WaykiChain strategy I have already seen before with other tokens, I have always thought that giving it a character of exclusivity by limiting the number of coins in circulation allows controlling the movements of rises / falls in a detrimental way for investors, I see it as a mechanism of protection.
Great post.
Yes, if we assume that like BTC, it has a finite number. Only BTC is 21 million. It could work to increase the price, going forward
hello @josevas217,
One of the things that worries me about this type of system is that it is focusing its strategy on limiting the amount of coins in circulation rather than a more utility-focused strategy. Throughout crypto-space there is a lot of emphasis on scarcity when in reality what gives any coin its value is its utility in a real market for products or services.
Yes, if we assume that like BTC, it has a finite number. Only BTC is 21 million. It could work to increase the price, going forward
That limit that it has in spite of everything, I believe that it also becomes freedom, it is a project that we must follow closely because from what I read from your brief explanation, it is possible that it has a good return, but in this case in the long term, after everyone starts trading with this alternative.
It has been in operation for more than 3 years and has been gradually gaining ground. So it is possible that we will know more about it in the future.
I must say, this is my very first time of hearing about the waykichain blockchain. I am really glad that I came around because I have gotten more informed by your post. Thanks for sharing buddy and have a wonderful weekend
It is impossible to keep up with everything that is going on. Very difficult. But luckily we can from time to time manage to get some information by reading from these articles.
Thank you. Have a good week.
For someone who has limited knowledge in crypto, I find your article helpful to understand more things, thanks for sharing it.
And it was a smart idea of the platform to keep their cryptocurrency value secured and increase it even more, but aren't their any disadvantages of that?
We can all learn from each other, that's the good thing about being here.
Bitcoin has a limited number, only 21 million. It will not be possible to produce more. And besides, usage is what determines the value of something the most, at least in spirit.
Hi @josevas217 limited currency supply is the way to go forward otherwise u keep printing money and losing money
Yes. It is the truth.
When something is unlimited, it loses value, that's reality. Thank you for your comment.