mimblewimble team mailing list archive

[Alessandro Viganò <alvistar@xxxxxxxxx>]

Hi all,
My first post as well but following Mimblewimble since Andrew Poelstra
scaling bitcoin Milan 2016.

I agree with Gold Goblin.

Right now is important to design a good monetary policy but not a perfect
one. I believe it’s impossible to foresee what is coming in years. So some
flexibility is needed, and, in any case, the ultimate flexibility is called
forking.

So if can’t deal so well with future coming in 10 years, we must deal to
immediate future.
And for that I am strongly believer in network effects and for that we
should not forget the role of speculators. They are looking for own profit,
but they are also creating efficient markets.

I believe that a finite supply would be a more accepted idea, IMHO.

If the world would need a change in 10 years, nothing is really immutable,
and we could be dealt later.
Changes for sure has costs, but when benefits are greater this can be done.

In conclusion let’s try to project something future proof, but remember
that we need to get first to that future and we must deal with present.

Alessandro

Il giorno lun 2 ott 2017 alle 01:38 Gold Goblin <goldgoblin@xxxxxxxxxxxxxx>
ha scritto:

> Hi everyone,
>
> I have been following MW, Grin and this mailing list for a while, and this
> is my very first post.
>
> It seems that in discussions of Grin's future issuance schedule, the
> favoured option for now has been a linear-issue schedule (resulting in an
> infinite supply and an inflation rate tending towards zero without ever
> reaching it). This contrasts with the fixed supply model of many other
> currencies such as Bitcoin or Monero. This choice has been defended as a
> way to incentivise miners to go on mining and making the chain more secure
> in the very long run.
>
> I think that it would be mistaken to start out with a monetary policy that
> doesn’t encourage early adopters and investors, but instead has been chosen
> as a way to deal with issues that may or may not arise decades from now.
>
> A currency's use as a medium of exchange is directly related to it having
> network effect to begin with. The best way to bootstrap this network effect
> would be to incentivise early adopters to invest in the coin, by making it
> as investor-friendly as possible (i.e. with a finite supply). Grin has
> great qualities (strong privacy, ASIC-resistant proof of work) that lack in
> Bitcoin, and that many Bitcoin investors would want to invest in; but an
> infinite supply would be a deal breaker to many.
>
> I do not believe that the “store of value” and “medium of exchange”
> aspects of a currency have to be mutually exclusive: a currency has to be
> good at both to become popular and widely used.
>
> In all cases, this project is amazing, and I’m looking forward to the
> testnet and eventual release!
>
> Best regards.
>
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