Guess which …
Well, fiat is also hord resistant… but not fair.
So I guess there is only one coin that is hoard resistance and tries to be fair and it is
Yes, fiat is hoard resistant, mostly because it’s not disinflationary.
Grin is both.
What’s the use case for GRIN then?
It’s hard to accept payments because of interactive ux, it has 10tps limit and there’s no L2 to be a currency, it doesn’t have full privacy as monero.
I thought grin position itself like Bitcoin but with some privacy in addition. And Bitcoin position itself as a settlement layer, which is hoarding by definition.
It’s harder, but not hard.
I can see a point of encouraging spending, but what is the point of punishing saving?
What if the coinbase mining reward would be proportional to the Difficulty or the square-root of the difficulty. That would make the emission rise by demand. Very fair. Much incentive to spend and contract a debt.
@Doogevol I do not even think it is any more difficult than fiat. E.g. lets take a business owner who request payment from a customer:
- The owner enters the amount on his wallet and shows a QR code to scan to the user
- The customer scans the QR code and clicks “Pay” or “Cancel” in case the shop owner filled in the wrong amount. The transaction is done over Tor, the user does not need to know or care about this.
This is exactly how a normal payment using bank card, or mobile phone payment request with any banking APP works. So if there is a problem with the ease of use of Grin, the problem is not interactivity/protocol, but the ease of use of the wallet. And at least in my personal experience I think both Grin++ and Ironbelly work very intuitively.
Now the current situation is slightly different from above since SRS is used, in which case the customer has to fill in the amount after scanning the QR code, which is exactly how we make payments with any other cryptocurrency wallet.
I think a good analogy is a cheque:
I send you a signed cheque. You give it to the bank with the intent to receive money. The bank gives you money.
Bitflate goes one step further than grin, constant inflation.
The point is you cannot encourage spending and saving at the same time. You need to balance them. Fiat punishes saving too much. Traditional crypto punishes spending too much. Grin finds the best balance. While also being the least arbitrary, at 1 per second forever.
It’s still dis-inflationary, so in the long term, like in a century, it punishes savings not noticeably more than alternatives.
You explained perfectly. I totaly agree.