# Monetary Policy

he first four years of Bitcoin emission rate are identical to the first four of Grin. Bitcoin had a full reward for 4 years, followed by half that for the following 4 years. So compared to a constant supply, after 8 years, the total amount of coins emitted is only 33% less. Compare that to daily price fluctuations（is there not completed？）.

I think there is a mistake in github: it is 25% less.
we are being harsh with grin here

let’s say grin and bitcoin issue 100 coins during the first 4 years. then after 8 years bitcoin has issued 150 coins (halving at the 4th year) and grin 200.
200*(1-25%) = 150, hence the 25% (and not 33)

the confusion has maybe come from the fact that 150*(1+1/3)=200, which translates into Grin has issued 33% more coins than bitcoin after 8 years.

Inflation who ?

It seems like use 200/150 = 4/3
4/3-1=1/3（33%）

but what I want to say is this sentence “Compare that to daily price fluctuations” seems not completed。

if you have a cake of 2kg and another cake of 1.5kg, then the second cake is 25% lighter than the first, not 33%

for the “not completed” that you re pointing out, I have no clue

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Yes,I agree what you talk about, and try to think why the author would said 33%.
Exactly you are right.

And If someone has clue ,welcome to tell me and pull request.