Why do you want to have inflation?
Bitcoin has fixed supply. The currency is deflationary. It causes price to fluctuate wildly. We think it is a good Store of Value (SoV). But for transactions, price fluctuation is a problem.
Existing stable coins are typically implemented through bank ledger. This requires 3rd party centralized banks. We want to create a stable coin through inflation. We think inflation would add liquidity to Bitflate currency.
Why Bitflate inflation rate is 7%?
We take a not-Bitcoin approach of setting inflation rate fairly high. If we set the rate low, the currency may behave just like Bitcoin.
If this coin ever receives widespread adoption, high inflation can meet market demand.
We pick the rate of 7% from Rule 72.
Coin supply doubles every 10 years.
What is Bitflate relationship with Bitcoin?
Bitflate started with Bitcoin Core codebase. It has changes in reward schedule and branding. Bitflate chain is separate and has no relationship with Bitcoin.
Can I use Bitflate for business?
Bitflate is at experimental stage as of July, 2019. We strongly advise you NOT to use it for business. The network is not secure.