Monero tail emission — one year on. 0.6 XMR per block. Perpetual. No halvings after the tail kicked in. This was a deliberate design choice and it's worth revisiting why it matters. Bitcoin's long-term security model depends entirely on fee markets replacing block subsidies. But fee markets are volatile, block space is finite, and there is no guaranteed floor. During low-activity periods, miners face economic pressure to exit — reducing hashrate, reducing security. Monero's tail emission creates a predictable, non-zero floor for miner revenue regardless of network activity. The inflation rate converges toward zero asymptotically (~0.8% and falling), but miners always have an incentive to mine. The practical result: XMR's hashrate has been stable. No death spiral, no fee spikes. Transaction fees remain consistently low — under $0.01 — because there's no artificial block space scarcity. One year in, the model is working exactly as designed. The "inflation" argument against tail emission ignores that monetary stability beats deflationary volatility for a privacy coin used as actual payment medium. #monero #xmr #mining #tailemission #bitcoin #economics #hashrate