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Can anyone explain to me why would anyone invest in a coin which heavily favors early adopters? I mean whats stopping people from dumping 20% of all the coins mined after 1 month?
Klondikecoin did something similar. It had 77 coins per block in the beginning, then a lot less (16 afair). Its price has fallen more than 20x.
To anyone reading this: please think and do some research before you buy this coin.
Klondikecoin did something similar. It had 77 coins per block in the beginning, then a lot less (16 afair). Its price has fallen more than 20x.
To anyone reading this: please think and do some research before you buy this coin.
Reward decreases relatively fast, but not too fast. It still would be worth embracing Groestlcoin even in a few months from now. The value of coin does not only depend on coin reward. It also depends on difficulty. For example, I was getting roughly 3300grs last week with reward 512 (mining with 49mhs). Now I'm getting 5000+ with 481 block reward.
The idea of large rewards in the beginning is to get more people have these coins. It's like 50% discount vouchers for restaurants. If you have the voucher and you liked the place, you'll go there once again.
With introduction of super speed scrypt asics later this year, coins like this one will get lots of attention. And I recommend to mine/buy GRS while it is relatively cheap. That's what I'm doing myself at least.
As for dumping 20% of coins... Well, nothing is stopping. But it is the same for all coins. Bitcoin, litecoin for example.
