I am Interested in criticism overall cryptocurrency environment that includes grin. But, when paying with grin, I would not know what private information I would reveal. Could I pay 0.02 XMR instead?
Unfortunately, I have chosen GRIN as the unit of account. I’m also trying to learn how to use it by practice, so if I were to be paid in another cryptocurrency it would defeat the purpose of this experiment.
I can’t find another cryptocurrency that was designed to have linear inflation from the start. It’s interesting that, even though the years ahead for GRIN guarantee a ridiculously high inflation (this year alone will have 50% inflation, the year after will have about 33% inflation), some members of the GRIN community cling strongly to their coins, as if I’m charging too much for asking 50 GRIN.
The overall crypto community is blind for one side of the coin. They see the asset side, thinking “of course my precious coin is going to moon!”, and foolishly HODL their coins. Yes, greater fool theory gives good reasons to believe that the price of a deflationary coin to increase. There are a lot of fools out there, so bubbles won’t pop that quickly. However, it’s surprising to think the same for an inflationary coin as GRIN.
By spending one’s coin, you are inviting someone to share the burden that comes with a coin. There even could be an emotional effect of being paid with a coin: now that the person paid holds the coins, that person has a motivation to wish and work towards a greater purchasing power for those coins.
The parable of the talents (Matthew 25:14-30) criticizes the HODL behavior before it was a thing. The third servant (the bad one) simply buried the money given by the master, afraid of losing it. The master scolds the servant, telling that, even if that was the case, the servant ought to place the money in a bank, so that the master could collect interest.
This experiment has been draining on me, and I don’t think my spare time is worth continuing it. I wish the best for your community, good bye.