Investors usually buy the coin they expect the most profit from and can sell in hours.
It’s miners that make the value of the coin and bear the risks of a loss.
See, it works both ways
Investors usually buy the coin they expect the most profit from and can sell in hours.
It’s miners that make the value of the coin and bear the risks of a loss.
See, it works both ways
You’re not being serious
There’s already a lot of bitcoin like crypto out there tweaking the emission curve of bitcoin . All that market is well filled and fed.
The idea of the grin emission is different. New chances, new risks, new knowledge to gain, new experiences, new use cases. There is a big potential in that and therefor I really like the idea without really liking the consequences others are afraid of, too: Loss of money earned by mining.
But hey, if I just want to gain the conventional way, why I’m here and not on the monero forum or some bitcoin site?
Are you willing to take the risk to do something new without being afraid of loss of a few kWh for supporting great chances?
I guess nobody can really preditct how the economics around grin will work out later, but we’ll not find out if we step back from grins new ideas now.
I still can’t wrap my head around people being so worried, when a classic bitcoin-like issuance would still be flat for the first 4 years. The first 4 years of life in a coin is eternity. Who knows what it’ll be like in 4 years!?
Only one way to find out…
I don’t actually like satoshi’s 100 year plan; I think its a factor in the asic race being basically criminal a few years back and kinda scummy now.
You can’t have to much money on the table or people start playing dirty even at great social costs
What is Satoshi’s 100 year plan? Never heard of it.
the 4 years halving.
Deflation is when you destroy currency, not when you create new ones. Decreasing supply emission is decreasing inflation.
And various values for that fixed quantity don’t changes the inflation rate, nor the actual “buying power” of the currency as a whole. It just affects calculation precision and storage size. Depending on that fixed value, Grin would have the same “unit precision” on Bitcoin in X year, where increasing this fixed value would decrease X.
I myself prefer higher precision. It would be particularly beneficial for (2nd layer) lightning payments.
(128 bits integers on Rust is now stable XD)
the inflation of grin actually goes down quite considerably over the first few years
“Considerably”, isn’t really enough when the starting point is by definition 100%, it needs to be absolutely drastic as the range for the “ideal” inflation rate is 0% to 2% by any economic theory
That’s the ideal rate of price inflation, not the ideal rate of supply increase.
there is two kinds of inflation rates, the one of money supply and the “overall” price index. on tv or in schools people will generally refer to the price inflation, not currency emission one.
and yet, regarding the price inflation, government-induced “economists” will declare that there is magic “healthy” values and happily ignore the fact that governments threaten the population to impose it’s currency. so i don’t believe there is a “correctly good” inflation value. if some crypto has constant emission (or even constant emission rate – turning it into an exponential increase), if no one is being coerced to use it, then so be it…
From a UX point of view, being able to say (eventually or now) there’s 1 grin created each second, directly paid to the miners who process transactions, would be a fantastically simple explanation in self-evident terms: how the network works and maintains itself.
Absolutely. I think the magic of grin is that the team continues to do little aesthetic things that are so simple its hard to imagine them ocurring any other way. It’s very in the spirit of mimblewimble I think.
Here is the updated emission document with 1ǥ/sec. I did not make this document so it could get removed at any time conceivably.
And the monetary policy document from the wiki: https://github.com/mimblewimble/docs/wiki/Monetary-Policy
In 5 minutes after the release of Grin there will be a SHA256 clone with fixed supply.
That is the Grin fork that will survive.
Everything else is meaningless.
That would be worse than grin though.
I think you mean 1 grin / second
for such an insanely simple concept I screw it up regularly don’t I.