I will not argue about the gracefulness of Grin’s monetary policy and whether it will be successful in the long run. However i wanna give an idea for discussing. If we’d compromised a bit on simplicity and started block rewards at 180 in just the first year, reducing them by 10 each month. 1 year later, 60 and stable till forever.
The main purpose here is inflation modeling that starts below 50% end of the first year and protect the short term a little bit more but not strengthening it too much.
I call this, Bitcoin&Grin hybrid model.
yes, but since emission rate would still be ridiculously high i would expect the same amount of people (if not even more) to dump their mined coins, so the dumpage would be >= what we’ve seen with constant 60grin/block
This is not unlike Monero. Monero took several years to reach ‘tail emission’, but since doing so, Monero has basically behaved like a stable coin.
There’s no going back now, but I don’t think Grin was designed to appease the 10 year crowd. Grin is designed to punish the first 10 years of adopters, and only then approach some modicum of stability and usability. You have to be in it for the long haul, or not at all.
Thanks for your suggesting. For me, grin has passed 4 years with this and it’s still fine. I see the person who invented grin monetary policy is quite talented. I could realise grin is superior than any other coins and something in between of dogecoin and bitcoin in term of real life usage.
Unfortunately, no one understood what i exactly show. I wish Ignotus would be with us.
Just as low inflation is dangerous, high inflation is dangerous too. Reducing hyperinflation as I showed does not change anything but simplicity.
Ignotus chose not to touch monetary policy at all because of simplicity. It was an experiment. The experiment, brought about continuous decline for the first 4 years.
Therefore, if there will be a new experiment, also hyperinflation should be avoided too.
I believe Grin will be successful in the long run but creating something between Grin and Bitcoin might be the fairest and successful solution.
Bitcoin was the first experiment. For the being first and due to its limited supply, high inflation in the first 4 years did not affect it much. However Grin arrived exactly 10 years later. Fomo and Inflation showed different results and the price burned in the first 4 years. While Ignotus calculated that long-term low inflation could be dangerous, he did not calculate short-term hyperinflation. He could have aimed to catch inflation below 50% in a shorter term to catch the balance and he could have do it with a softer fall, not a halving.
Therefore, you have Grin that is unstable for 4 years and is constantly falling. Though, in my opinion Ignotus built the best system of all POW. That’s why I respect him. This change is no longer possible but I m giving this idea for new experiments.
