GRIN recollections.

IGNOTUS PEVERELL
Github

Grin’s genesis block was mined on January 15th, 2019. Igno gave an interview via email, answered questions. Interview by David Z. Morris

Some highlights below.

D.Morris :What was the thinking behind the decision to make Grin entirely community-driven and nonprofit, at a time (pre-bust) when hype was so intense around anything blockchain or cryptocurrency related?

IGNO: First, there were fairly obvious signs of overheating. Second, I was very uncomfortable with all the moral hazard existent in most new projects. Despite what can surface in various articles and reports, there is no free money if you prefer to stay on the right side of the law.

No ICO, no Premine.

D.Morris: Why do you believe the world needs a(nother) privacy currency?

IGNO: I was generally dissatisfied with the direction of most cryptocurrencies at the time, privacy-oriented or not. And in some ways still am.

Make better money.

MimbleWimble Whitepaper

D.Morris: The most interesting economic decision in Grin’s design was to make the supply curve “inflationary,” at least in theory. Do you find bitcoiners’ fear of inflation and love of “hard money” compelling?

IGNO: Not really. There is no evidence that bitcoin’s supply curve is optimal. But there is a growing body of solid research showing that several aspects of it are problematic. To be honest, I have a pretty poor opinion of where the field of economics is generally at right now (not to say there aren’t any promising directions) as well. And so pragmatically, the best line to walk on seems to be only trusting strategies that have reasonably been proven to be true, either empirically or with solid research, and in the absence of such positions, pick the simplest rational solution.

D.Morris: You remain anonymous, at a time when that’s much rarer than it used to be — hell, the lead dev of the current biggest privacy coin regularly posts video from inside his own house. What motivated you to kick it old-school?

IGNO: There seemed to be no downside. I didn’t want the stress of being a public figure in this space, for myself and those close to me. By being anonymous, I’m also much less of a victim for people who’d want to influence me or profit indirectly from my position. I can be a good layer of insulation for contributors and developers directly involved in Grin: People can blame me instead of them.

D.Morris: Finally, Grin has been seen as a kind of symbolic return-to-roots for crypto in the wake of the bubble/crash. What advice would you give the broader industry to help keep the development and use of crypto/blockchain going over the next five to 10 years?

IGNO : State your goal clearly and keep pushing toward it. Be patient. Be very wary of too much affluence, it’s a distraction. We’re developing open source projects that happen to deal with money. Adopt the open source ethos first, it’s a proven model. Be humble and exceedingly nice.

Decentralized

- Electronic transactions for all. Without censorship or restrictions. Designed for the decades to come, not just for tomorrow. To be used by anyone, anywhere.

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