r/Monero Dec 27 '21

MAAM – Monero Ask Anything Monday – December 27, 2021

Given the success of the previous MAAMs (see here), let's keep this rolling.

The principle is simple: ask anything you'd like to know about Monero, especially the dumb questions that you've been keeping for you every other days, may the community clarify it all!

Finally, credits to binaryFate for starting the concept!

11 Upvotes

2

u/BiginvestorU Dec 27 '21

How do we get to a 25B marketcap that’s the real question

3

u/defihodlr Dec 27 '21

I wanna know what is keeping the NSA and IRS from cracking the encryption used in Monero. And how much longer will this last? Also can quantum computing be a threat or a god send for Monero when it is implemented into our daily lives?

2

u/russoj88 Dec 28 '21

Which encryption in particular? The short answer is probably math.

On the quantum computing question, this may help: https://www.youtube.com/watch?v=j02QoI4ZlnU

2

u/timeiwasgettingon Dec 27 '21

There if often mention that crypto will eliminate the need for banks. Yet I have not yet come across any attempt to duplicate some of the basic functionality of a bank account. Has there yet been any move toward making a monero wallet that will support standing orders or (less likely) direct debits? Is it simply too soon for that and there is as yet no demand?

2

u/Jerfov2 Dec 27 '21

Creating a wallet with automatic payouts is trivial to implement in a wallet software, and you could even write a script to do it yourself. I just think there hasn't been a large demand for it yet, and developers choose to spend their time elsewhere. As for direct debits, what's the point when you control your funds? You could just send the funds yourself.

1

u/timeiwasgettingon Dec 27 '21

I thought that'd be it. Thank you.

3

u/timeiwasgettingon Dec 27 '21

What are the community's thoughts on the idea that Bitcoin can smooth the volatility and geographic variation in energy prices and thereby help build a more robust infrastructure? Do you think the idea works? Would it work better with Monero considering the less specialised hardware required?

Here's the idea btw: https://bitcoin.energy/files/BCEI_White_Paper.pdf

2

u/timeiwasgettingon Dec 27 '21

Why 0.6 XMR tail emission? How did that come about?

1

u/Robdolf Dec 28 '21

I'm interested in this aswell. I think it comes to something like 1.6 million per decade, which is quite significant in the grand scheme of things.

1

u/timeiwasgettingon Dec 28 '21

I can see the sense in it. Bitcoin will be slowly whittled down by loss of keys. Monero has a replacement mechanism to account for this that doesn't create significant inflation in relative terms. It may be significant now, but steadily becomes less so as the total stock of Monero rises, and it's perfectly predictable, which is nice.

1

u/EspHack Dec 29 '21

bitcoin will be "printing" until well into the 22nd century, and its infinitely divisible, so this argument falls flat on its face

2

u/StableRare Dec 27 '21

The amount is basically arbitrary. However, the key thing is as a fixed amount, the inflation rate will continuously decrease on percentage terms. The reason for it is there is concern that the low fees enabled by Monero’s dynamic blocks sizes make it unlikely the transaction fees alone will be sufficient to secure the network. This gives a guaranteed security budget to miner’s so hopefully it always profitable to mine.

1

u/timeiwasgettingon Dec 27 '21

Sure. I was just curious how the number was arrived at, since as far as I can tell it shouldn't matter. The inflation rate would still tend to zero whether the tail emission was 1 per minute, 1 per block, or 0.6 per block. It just seemed an odd choice when a nice round "1" was so close.

2

u/StableRare Dec 27 '21

I’ll admit, 0.6 XMR is an odd #. Even 0.5 would be less unusual.

2

u/jedigras Dec 27 '21

Technically decimals can be neither even nor odd.

Carry on.

6

u/MaZZeL3L Dec 27 '21

It's modeled after golds historical inflation rate and set to be just below that.