*When you realise Bitcoin, Zcash, and Monero are all captured, and all doomed to fail with ever-decreasing mining rewards in the “digital gold” ponzi fallacy which renders them all but useless …
And that Grin is the only peer-to-peer electronic cash system in the world today.*
https://x.com/ggmesh/status/2032092419785712054
Not just the scalability and fungibility and privacy of Grin, but increasingly as Time moves inexorably onward, the entropic arrow which kills all, that it will be our constant linear emission which will sustain us whilst all others burn out or implode.
Grin, and only grin.
Monero is already in its tail emission, so you’re wrong about that one.
If I’m wrong cause it hasn’t failed yet, then give it a bit. In point of fact though, I was mistaken for not knowing XMR had a tail emission (was one introduced in the last few years?), although that doesn’t contradict the tweet which speaks to “ever-decreasing” rewards. But if you meant that Monero’s block subsidy can’t decrease any more (and is not nothing), then I was wrong about that …
Anywho, I can see now that Monero has a tail emission of 0.6 XMR every 2 minutes. That’s roughly 100 bucks a minute (at $350/XMR) to incentivise miners to secure $6,542,234,794 worth of coins.
Would anybody care to bet against Monero getting blasted by a devastating 51% attack before Christmas?
Of course, tail emission by definition does contradict ever-decreasing rewards.
It was introduced in Monero about 1 year after its launch [1]. Btw, it was very hard to find anything announced/described about this consensus change. I ended up hunting through the source code instead.
That’s not much different from Bitcoin. Both have a yearly inflation rate of a little under 1%. The difference is that Bitcoin’s will halve again in 2028 and every 4 years thereafter.
monero tail emission started at 2022 june after almost its all supply mined since 2014.
Monero and Bytecoin … aww crap that’s another story
My back of napkin numbers are pretty close tho. Approx 200 bucks of XmR paid out every 2 mins to secure near enough a 7,000,000,000 (billion) dollar network?
Do you not feel as I do? That this is madness?
There’s a cool site which has a cool P/E ratio style calc for cryptos: namely how many years would it take daily tx fees on any given network to equal the current marketcap of said network?
For BTC with approx 300K per day (atm) the answer is 1000’s of years
Will edit this post with a link to the site if its still active, but you can run the numbers yourselves. They are all outta control.
Quelle surprise.
They fork off Bytecoin and spend their time calling it out as a scam - which indeed it may have been. But Bytecoin started ring sig anon dammit. There’s something rotten in the state of Monero.
Even a small operation (or nation state) could crush and obliterate XMR right now. That they don’t raises even more questions, at least for me.
