question about privacy coin Grin

[FlipBurgerCEO]

couple years ago when grin went public on the market it was supposed to be the next big thing. I read little about it back then and a lot of big guys on CT were enthusiastic about grin. I remember reading that litecoin was going to implement their protocol in Litecoin but looking back now their market price dropped like 99% and it has died pretty much. So what happened ? Was it just a big pump and dump scam or has it really some potential that is overlooked?

[FinneysTrueVision]

It was not very user friendly and people didn't know how to use it. They didn't have addresses and both users had to be online to complete a transaction. It was originally supposed to be a Bitcoin sidechain but they decided to launch their own coin, which made bitcoiners skeptical of this project. Making it very hard to use and pissing off your target audience is not a good recipe for creating a successful cryptocurrency. There was also a claim that their privacy had been broken. Mimblewimble might still live on in Litecoin and some other projects but I don't know if Grin will ever bounce back.

[zasad@]

I remember the last Grin Coin security scandal
Factual inaccuracies of “Breaking Mimblewimble’s Privacy Model”
https://medium.com/grin-mimblewimble/factual-inaccuracies-of-breaking-mimblewimbles-privacy-model-8063371839b9
I don’t know who I should trust, but this coin is not popular with users and it is traded on a small number of exchanges.

[JeffBrad12]

People have been leaving the privacy coin. Monero is more than enough to be used as a way to get the best privacy tech. Grin is not needed at this moment and it's not the only grin but almost all of the privacy coins except monero and zcash almost died.
The trend has been moving forward since a long time ago. These privacy coins are useless right now. We didn't even need this one.
Let this privacy coin die caused by it can't even follow the trend. We didn't need a bunch of privacy coins.

[jrrsparkles]

couple years ago when grin went public on the market it was supposed to be the next big thing. I read little about it back then and a lot of big guys on CT where enthusiastic about grin. I remember reading that litecoin was going to implement their protocol in Litecoin but looking back now their market price dropped like 99% and it has died pretty much. So what happened ? Was it just a big pump and dump scam or has it really some potential that is overlooked?

Privacy coins are not popular, even the most recognized privacy coin which is Monero not much popular as other shit coins in 2021 due to the strict regulations for exchange from governments so even the reputed exchanges delisted them to avoid any issues for them.

[zasad@]

On the contrary, I think that confidential coins will be very popular in the future.
Dash and Monero will lead, but these two coins will not be enough.
If there is a coin that interacts perfectly with the Ethereum ecosystem and decentralized exchanges, then there will be good demand for it in the future.

[FinneysTrueVision]

On the contrary, I think that confidential coins will be very popular in the future.
Dash and Monero will lead, but these two coins will not be enough.
If there is a coin that interacts perfectly with the Ethereum ecosystem and decentralized exchanges, then there will be good demand for it in the future.

Dash has been forgotten by old school crypto adopters and the newbies most likely have never heard of it. They were one of the original privacy coins but then they rebranded to de-emphasize the privacy aspect and focused more on payments. The scammy instamine, centralization, and opt-in privacy that few people use are all points against it. Bitcoin with coinjoin is already more private than Dash so this coin is unnecessary and will either die off or just fade further into irrelevance.

[OcTradism]

On the contrary, I think that confidential coins will be very popular in the future.
Dash and Monero will lead, but these two coins will not be enough.
If there is a coin that interacts perfectly with the Ethereum ecosystem and decentralized exchanges, then there will be good demand for it in the future.

Monero is famous as the biggest privacy coin but many people are not aware of DASH. This coin is one of biggest altcoins in that previous bull run and in this bull run, DASH does not recover too much. Ethereum has its new all time high but DASH has even climbed to half of its all time high in 2018.

The market will have another big bull run few months later and I believe that a hidden germ, privacy coin like DASH will have big movements. At least, my expectation is DASH will try to test its 2018 all time high. At least, I believe DASH will rally to $900 to $1,000 in this year.

[wack slacker]

Talking about anonymous cryptocurrency perhaps Monero is enough. Currently, new projects can hardly resonate. Even Deep Onion that operates on the Tor network is still picky about its users because it uses an unpopular space.

Recently I heard about PRCY which is a new type of anonymous crypto and they will release their smart contract in the future. They have a marketing strategy and wrap on other chains. A market cap of just around $5 million with a limited supply could offer great potential.

https://coinmarketcap.com/currencies/prcy-coin/markets/

[Ucy]

It was not very user friendly and people didn't know how to use it. They didn't have addresses and both users had to be online to complete a transaction. It was originally supposed to be a Bitcoin sidechain but they decided to launch their own coin, which made bitcoiners skeptical of this project. Making it very hard to use and pissing off your target audience is not a good recipe for creating a successful cryptocurrency. There was also a claim that their privacy had been broken. Mimblewimble might still live on in Litecoin and some other projects but I don't know if Grin will ever bounce back.

Interesting.

I guess it would have been an interesting privacy feature to Bitcoin network if it hadn't been a seperate cryptocurrency.. Also considered that it does not have addresses, and both sender and reciever need to be online. And it doesn't seem transparent... probably would have benefited from Bitcoin transparency if it was part of the Network.
I think I was actually excited about the coin mainly because reputable and knowledgeable people in Crypto space back then were excited about it.
 I have forgotten about it because people don't talk much about it for a while now.

[blackened515]

To be honest, I haven't come across Grind as a new privacy coin but so long as they are not some sort of scam coin out there, I will keep supporting them, Monero, zcash and other privacy coins are not enough in the space, if actually they remain decentralized and keeps off away from government policing.

I remember the last Grin Coin security scandal
Factual inaccuracies of “Breaking Mimblewimble’s Privacy Model”
https://medium.com/grin-mimblewimble/factual-inaccuracies-of-breaking-mimblewimbles-privacy-model-8063371839b9

I don’t know who I should trust, but this coin is not popular with users and it is traded on a small number of exchanges.

What's the model about privacy coins, what laws of privacy inaccuracies had they broke and I would love to know why, a project isn't matter if trading on low exchange but how good and better they keep to their words towards their aim other than just exchange price and making profits.

[OcTradism]

couple years ago when grin went public on the market it was supposed to be the next big thing. I read little about it back then and a lot of big guys on CT were enthusiastic about grin. I remember reading that litecoin was going to implement their protocol in Litecoin but looking back now their market price dropped like 99% and it has died pretty much. So what happened ? Was it just a big pump and dump scam or has it really some potential that is overlooked?

Grin coin has infinite total supply and has high inflation in its first 6 years. Inflation or deflation supply rate of cryptocurrency is the first specification that is considered by experienced investors.

Grin inflation rates

Year #	Yearly monetary inflation rate
1	36500%
2	100%
3	50%
4	33%
5	25%
6	20%
7	17%
8	14%
11	10%
21	5%
34	3%

Lost of risks for defunct of one project in first 4 years and more in first 10 years.

IMO in 10 years:
 - 30% chance grin is defunct, but roughly the same basic features are provided by other BTC-based off-chain systems such as LN.
 - 25% chance grin is defunct, but basically the same thing exists as a widely-used Bitcoin sidechain.
 - 15% chance BTC is the main store of value in crypto, while grin or a very similar altcoin is used for most daily payments.
 - 1% chance grin advances significantly, and combined with its first-to-market advantage vis-á-vis its innovations, it out-competes BTC entirely.
 - 14% chance some other altcoin out-competes BTC entirely. It won't be one of the existing ones, except perhaps grin as mentioned above.
 - 15% chance global authoritarianism makes it very difficult to use cryptocurrencies at all, and the whole sector is reduced to a tiny niche.