Topic: [XMR] Monero Speculation - page 1883. (Read 3314343 times)

No it isn't fixed. It is subject to change at their discretion, which is generally done to favor one particular interest group over another.

A preprogrammed rate of inflation doesn't really differ from a fixed supply, as MP explained, as long as the schedule is fully known to everyone in advance. If we enter into a contract where you agree to pay me 100 units next year, if we both know the inflation rate will be 2% we can instead agree on 102 units instead, which represents the same constant value.

The problem comes in when we agree on 102 based on an expectation of 2% and then the ECB decides that 3% or 1% is better. Then they are favoring either you or me in our contract.

Take Bitcoin, which is non-inflationary by design. One bitcoin is equal to 1/21m of the total. As long as we know what the total is going to be, we can simply agree to transact in units of 1/21m of the total instead of transacting in 1 BTC. There is no real difference. With fiat, you can't even do that, really, because the total money supply is not only not fixed or on a fixed schedule, but isn't even transparent. The best we can do are estimates made after the fact and then often revised.

It made more of a difference when adjusting prices was difficult (required changing product packaging, price stickers, etc.). But in the electronic age that doesn't apply any more.

Not sure, that's where the bankers try to confuse us i guess...

what is your definition of inflation? Is it rising prices as the effect of an expanding money-supply, or is it just an expanding money-supply, wether some prices are rising or not?

As I understand: disinflation is a slowing rate of rising prices... it's not a slowing rate in expanding the money supply... so monero doesn't have disinflation, monero has a fixed inflation rate (as in can't be adjusted at will).

interesting discussion, but maybe off topic over here...

Monero hasn't "fixed inflation" neither, the correct economic term is http://www.investopedia.com/terms/d/disinflation.asp

hmmz,
I thought inflation = expanding the money supply, whatever the inflation-target is, whatever the actual rise in prices is... fiat-money has no fixed inflation, central banks can print at will as per Ben Bernanke, Mario Draghi, Kuroda, etc... Fixed inflation (as is with btc, monero... as is with gold and silver) differs a whole lot from being able to print whatever amount of currency...

fractional reserve banking with fixed-inflation-money will fail when there's a too big a bank run (the money can't be printed at will), FRB in a fiat-currency-system doesn't need to fail, the central banks can print at will...

best regards

Fiat money has more or less fixed inflation which is done by the European Central Bank inflation targetting.
If there is an inflation rate, it really doesn't differ from fiat money (unless you do not consider a distribution mechanism which is different in crypto and the modern type of fiat money which is created in two ways: 1) by central bank the initial money supply 2) Commercial banks by credit expansion - the latter being more significiant factor).

Worth quoting because I agree with his monetary view. However, I think he is wrong with respect to a proof-of-work cryptocurrency which is not only a financial system but also a device that has the function in a certain way including mining incentives. For the later, a positive rate of inflation is superior.

Lol. That didn't take long.

Interestingly enough here's your answer: http://log.bitcoin-assets.com/?date=27-05-2015#1146160

Hmm I withdrew but nothing came up in the bitcoin address.

yes i withdrew just fine. however it looks like they ran out of funds for the promo already.

Does it work though? I withdrew to a random wallet and still nothing.

Thanks for the tip, that took about 2-3 minutes. Nice and easy.

Bittrex volume is starting to increase. 17 btc of XMR were traded there today. Thats quite a lot compared to the usual volume.

https://bittrex.com/Market/Index?MarketName=BTC-XMR

Don't forget it started with "BMR." I actually mined quite a bit of BMR from my two desktops.

I still get a mild dopamine rush when seeing the letters MRO.  

Kinda the same sensation as you would get when seeing money on the street, or scoring a three-pointer basketball shot without the ball hitting the rim or backboard.

^Swisssshhh!

I felt like part of history cracking pre-ASIC BTC blocks, but MRO's difficulty started too high for me to get more than a couple.

Thanks for reminding me I should be equally as proud of them!          

By Nazis, do you mean NSDAP? Or the ashkenazi who have projected their own actions to what Nazi stands for to most of people these days? Also is everyone who calls themselves Jew actually a Jew? Khazars in Israel are sterilizing the Ethiopian Jews (who have a longer history of being a part of the Jewry than the Khazars themselves!). Forced sterilization was taught to me to be a Nazi practice, so perhaps Israel=Nazi actually..

No offence if any of the readers supports Israeli policies but you gotta be clueless to condemn the NSDAP for the same actions!

Monero is the premier Cryptonote currency.  Not sure exactly what you are talking about.

Bytecoin has the vast majoirity of the units held by a single entity. So only a tiny fraction of it is trading on the market. Yet the market capitalization is a function of the last agreed upon price times the entire currency supply. So its basically a trick and the market capitalization value is completely meaningless. If the big holder sold even a tiny fraction of his holding he would drive the price down to one over infinity. So basically, the market cap of bytecoin couldn't possibly be more meaningless. May as well consult an astrologer.

Any ideas on why Monero is lower than Bytecoin - have they had development or something going on over there?

I'm not the XMR evangelist many of you are in this thread but.  When I see Bytecoin surpass it - strikes me as a bullish signal for Monero ... I picked more up o.O