This has been mentioned before I’m sure, but if all coins are lost, Grin just keeps going. It can restart cleaning and nothing is out of the ordinary.
Not only that, but the initial high inflation environment is actually good in that scenario.
High inflation economies encourage spending and discourage hoarding. If you need to rebuild, you need to encourage spending.
When things become more stable civilizationally, things become more stable economically.
“It’s time to build” = Low time preference
Grin = Low time preference
Not only in cases of total collapse, but even in partial collapses, Grin just recovers in a predictable way.
Compare to Bitcoin:
With a fixed supply, this same scenario is genuinely unpredictable, if fixable at all.
Let say all bitcoins are lost and they choose to restart a new Bitcoin from scratch. Yes, it’s inflationary in the beginning in some sense, but because of the fixed supply, you would still have hoarders, not spenders.
Interesting thought, I never thought about that before .
Indeed Grin might be an ideal coin to survive a restart.
Additionally, Grin is better suited to survive any doomsday scenario that would for example wipe out 99.99% of the population and as such all wallet holders and wipe out existing coins. No problem for Grin, grin will keep on emitting 1 grin/second, so no need to even restart. As long as any miners and nodes survive, Grin will keep on ticking like a clock . For Bitcoin, when emission is done, if in a doomsday event 99.99% all wallet owners die and their coins are wiped out, no new coins will be available meaning the only choice is a restart emission or accept there are only very few Bitcoin left. In such a case security would also suffer greatly since there are very few fees to fund security.
Maybe it is time to market Grin to doomsday thinkers, Grin will even survive a zombie apocalypse
Anyone knows that less is more. A minimal code and rule base make Grin les prone to vulnerabilities and as resiliant as crypto gets.
Minimalism for the win.
Is Riticulum similar to Nostr? Does anyone know enough about both to make a comparison between the two and say what the advantages and disadvantages are of each?
I know, why not do it myself… because it is not exactly my expertise and a good comparinson requires to go in depth.
.
. For Bitcoin, when emission is done, if in a doomsday event 99.99% all wallet owners die and their coins are wiped out, no new coins will be available meaning the only choice is a restart emission or accept there are only very few Bitcoin left. In such a case security would also suffer greatly since there are very few fees to fund security.
