Samson Mow, the CSO of Blockstream, recently spoke about Blockstream’s Green wallet, on the latest episode of Magical Crypto Friends. Magical Crypto Friends is a series where Samson Mow, Riccardo Spagni, core developer of Monero, WhalePanda, a Bitcoin proponent, and Charlie Lee, Creator of Litecoin, discuss the events surrounding the cryptocurrency space.
Mow stated that Green Wallet was basically a re-brand of Blockstream’s Green Address, which is known for 2-of-2 multi-sig. He further stated that there would be a second factor that authorizes every transaction, adding that the second key would be held by the Green Address server. He said,
“[…] you’ll get an email or phone call or SMS or you have to use Google Authenticator or any authenticator app to hit okay before your transaction goes through. but, also there’s a lot of other cool stuff you can speed up transactions using replaced by fee […] and you can control the fees you pay to it’s much more granular than other wallets
Mow went on to state,
“[…] you have a velocity limits for spending as well but it’s like are really really secure wallet that you can use to travel around and manage your bitcoins on the go you can plug in hardware wallets to it as well […]”
This was followed by Riccardo Spagni addressing the question of which one is better, fixed coin supply or flexible supply, with respect to Bitcoin and Monero. To this, Spagni stated that Monero has a minimum block reward, adding that when this happens, it stays the same forever. He said,
“[…] what that basically means is when it gets to the minimum block reward that we’re talking about 0.8 percent inflation annually but because the minimum block reward is fixed that decreases over time so it’s 0.8 percent the first year then the next year it’s like a 0.76 percent […]”
He further stated that in terms of which one was better, if there were three options, inflationary, deflationary, and dis-inflationary, it would entirely depend on the design. He said,
“I think inflationary is always bad for the most part. I think dis-inflationary is a reasonable middle ground that gives you, if you’re not if you’re designing for digital currency and not digital gold then dis-inflationary is not a bad model. it’s the model the Monero users and I don’t think it’s terrible. if you’re designing for digital gold it has to be deflationary”
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