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Author Topic: [ANN][GRT] Grantcoin: Currency with a Conscience (old thread)  (Read 35888 times)
kampretkabur
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July 06, 2015, 03:24:35 PM
 #181

yes me too, waiting for
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freebird
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July 06, 2015, 08:44:11 PM
 #182

Hi dimox and kampretkabur,

Our team is continuing to post news and progress for the coin and the Foundation. We can't control who buys or who doesn't buy.

All I can say is that this coin is already more legitimate and meaningful than most of the other altcoins out there, and people just have to study it and read about what we're doing to find that out for themselves.

If people choose not to buy in this early stage, that's their choice, but I think it's a choice they might regret in the future, because the Grantcoin team is continuing to work hard to make this coin something special.

Thanks for your interest in Grantcoin, and we'll keep everyone informed of new developments on a regular basis.

Eric (founder/developer)

Grantcoin: Currency with a Conscience. Distributed as charitable grants by a 501(c)(3) tax-exempt nonprofit organization. Learn more at Grantcoin.org
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July 06, 2015, 11:19:47 PM
Last edit: July 08, 2015, 05:55:44 PM by missionsuccess
 #183

yes me too, waiting for

Patience my fellow padawan Cheesy, GRT will steadily gain value until it hits it's "Tipping Point" which is in the works of occurring.  Thank you for the support and keep following our updates.  Also if you would like to add value to Grantcoin please contact us at mail@grantcoin.org to see how to help.  

Thanks,

Mission Succes
Brandon Venetta
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July 09, 2015, 07:26:12 AM
 #184

many update it's good  Smiley
Look the nethashrate still Growing . 50 TH now
Buy more  Cheesy
National
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July 09, 2015, 10:53:33 PM
 #185

What did you guys cut the number of coins to? 1 billion or less, maybe 500 million, is good if you want the coins to hold value.
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July 10, 2015, 08:25:10 AM
 #186

What did you guys cut the number of coins to? 1 billion or less, maybe 500 million, is good if you want the coins to hold value.

We didn't actually burn any coins, but we cut the number of coins that will be sold by the Grantcoin Foundation on exchanges down to 100 million. They will be sold at specific prices from 50 satoshis to 5,000 satoshis (or approximate equivalent in other currencies), so most of these coins will not even enter circulation unless the price rises a lot from where it is now.

See the article we posted a few weeks ago:
http://www.grantcoin.org/2015/06/11/foundation-to-sell-less-grantcoin-provide-buy-support-focus-on-charity-and-e-commerce/

There are also coins being created through mining, and I think most of those are being sold on exchanges by the miners. So far, almost 20 million GRT has entered circulation in this way. The total GRT to be created through mining is about 37 million, something like that.

There is about 10 billion GRT total, most of which will eventually be released into circulation as grants, but that will take years and years to occur. We're not going to put a lot of coins out there unless/until there is significant investor demand to support it.

Grantcoin: Currency with a Conscience. Distributed as charitable grants by a 501(c)(3) tax-exempt nonprofit organization. Learn more at Grantcoin.org
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July 10, 2015, 06:14:06 PM
 #187

I suggest to start a coin burning program for the coin in order to get trust back. There are some example where coin had success after such a program.

What did you guys cut the number of coins to? 1 billion or less, maybe 500 million, is good if you want the coins to hold value.

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July 10, 2015, 06:26:24 PM
 #188

I suggest to start a coin burning program for the coin in order to get trust back. There are some example where coin had success after such a program.

What did you guys cut the number of coins to? 1 billion or less, maybe 500 million, is good if you want the coins to hold value.

There is no trust lost. Everything these developers have done is transparent and documented.

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July 11, 2015, 02:29:39 AM
 #189

hy dev i watch this in bittrex market  Sad


National
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July 11, 2015, 07:50:51 AM
 #190

So going off of your statement that no more coins will be released unless the value increased greatly...what does increase greatly mean? What is the optimal value that you guys believe GRT should reach and stabilize at?
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July 11, 2015, 01:27:17 PM
 #191

hy dev i watch this in bittrex market  Sad


http://i58.tinypic.com/1zdvtqr.png

Hey Dimox,

Thanks for sharing this, its unfortunate that the average daily volume isn't meeting .2 BTC for bittrex but it was anticipated with GRT only being 2 months old.  We fortunately have friendly traders to get the minimum .2 BTC volume a day running at losses.

Thanks again for your support!   
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July 11, 2015, 01:46:46 PM
 #192

So going off of your statement that no more coins will be released unless the value increased greatly...what does increase greatly mean? What is the optimal value that you guys believe GRT should reach and stabilize at?

Hey National, 

In what terms do you ask by optimal "value"?  My assumption is your asking the GRT conversion back to USD...  With that assumption, my opinion is that no one can predict where any of these digital currencies will be 10 - 15 years in relation to fiat.  I personally don't think in terms of the currencies related back to fiat because after the 2008 crisis I don't believe the fiat currencies will last much longer with trust of the people. 

So to answer your question the value of 1 GRT will always be the same value of 1 GRT today, tomorrow, and ten years from now.  All that will change is what that 1 GRT will be transacted for, the utility of the currency.

This is one of the biggest challenges that face the crypto currency demographic is they look at these currencies like investments in relation to USD or other fiat, this is why you see all these pump and dumps with greedy individuals trying to make a quick buck.  Even LTC recently went through a pump and dump...

It'll take some time but when GRT plugs into the specific markets that are being targeted it will be a special currency to be apart of Smiley

Cheers,

Brandon
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July 11, 2015, 08:45:07 PM
 #193

So going off of your statement that no more coins will be released unless the value increased greatly...what does increase greatly mean? What is the optimal value that you guys believe GRT should reach and stabilize at?

Hey National, 

In what terms do you ask by optimal "value"?  My assumption is your asking the GRT conversion back to USD...  With that assumption, my opinion is that no one can predict where any of these digital currencies will be 10 - 15 years in relation to fiat.  I personally don't think in terms of the currencies related back to fiat because after the 2008 crisis I don't believe the fiat currencies will last much longer with trust of the people. 

So to answer your question the value of 1 GRT will always be the same value of 1 GRT today, tomorrow, and ten years from now.  All that will change is what that 1 GRT will be transacted for, the utility of the currency.

This is one of the biggest challenges that face the crypto currency demographic is they look at these currencies like investments in relation to USD or other fiat, this is why you see all these pump and dumps with greedy individuals trying to make a quick buck.  Even LTC recently went through a pump and dump...

It'll take some time but when GRT plugs into the specific markets that are being targeted it will be a special currency to be apart of Smiley

Cheers,

Brandon

Good points, Brandon.

The only thing I would add to what Brandon already said is that the founders of the Grantcoin Foundation have talked about 50 satoshis as sort of a baseline price that we want the currency to be able to maintain and not go below it. There's no official policy to that effect, but informally speaking, the people who are involved in managing this project will probably try to keep the value of GRT at or above that level unless there is huge dumping by other investors.

And, really, it wouldn't be that hard to maintain that price. Only about 17 million additional GRT is going to be produced through mining. At 50 satoshis, that's only about $2,500 in buying demand, total, that would have to exist to absorb those coins if all of them are dumped on the market by the miners.

Given how little money it would take flowing into this coin to hold the current price until Proof-of-Stake begins and the inflation rate drops to a very low level, I don't think it makes sense for people to worry about the price. If you're looking for a quick pump and exit, then maybe this coin isn't for you. If you're looking to invest in a serious project with long-term potential, then this is one of the few coins with that philosophy. Smiley

So going off of your statement that no more coins will be released unless the value increased greatly

Just to clarify, I didn't say that "no more coins" will be released until the value increases greatly. Some more coins will be released as grants, even in the near future, but we're not talking about huge amounts of coins. And the grants will mostly be given to people, businesses and organizations that are helping the Grantcoin project in some way, helping to give the coin more utility and value. Some micro-grants (a few thousand GRT per person) will also be given to people as coupons to attract customers to shop in the online store we will soon be launching, which will give people incentive to pay in Grantcoin.

Grantcoin: Currency with a Conscience. Distributed as charitable grants by a 501(c)(3) tax-exempt nonprofit organization. Learn more at Grantcoin.org
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July 11, 2015, 08:52:00 PM
 #194

Hey Dimox,

Thanks for sharing this, its unfortunate that the average daily volume isn't meeting .2 BTC for bittrex but it was anticipated with GRT only being 2 months old.  We fortunately have friendly traders to get the minimum .2 BTC volume a day running at losses.

Thanks again for your support!   

Yeah, no worries everyone, we won't let the coin get delisted. There are enough people who care about this coin's future and will either buy more or trade among ourselves to make sure that there's enough volume, during this very early stage when the coin is still only a couple months old. Smiley

Grantcoin: Currency with a Conscience. Distributed as charitable grants by a 501(c)(3) tax-exempt nonprofit organization. Learn more at Grantcoin.org
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July 11, 2015, 10:22:44 PM
 #195

Not a bad thing. Means people are holding Cool

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kampretkabur
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July 12, 2015, 03:31:31 PM
 #196

so should we trade between ourselves to get the volume?
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July 12, 2015, 05:26:46 PM
 #197

i Have a dream with Grantcoin , waiting when many investor join to here . and now i could get more cheap coin . y , I know now tis coin not have huge comuunity , but we still strong .
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July 14, 2015, 03:15:13 PM
 #198

I am very much looking for a long term investment and trust me I dont like crypto pump and dumps any more than the next guy, but to be honest, I am unsatisfied with those answers. I  have really liked the dev team so far, but to not have a true end goal value is a little half baked imo. It is naive to believe that GRT will at all replace fiats and as such, GRT should have a fiat value or it is useless. Not to mention by its nature, if a crypto did replace fiats, it would not be GRT to do it, it would more likely be a gov’t affiliated crypto or a crypto without a humanitarian agenda. A true trade currency. The objective should be to work with the fiat of those in need, not try and reconstruct the monetary system. To help both the investors and those in need, there should be an optimal equivalence to a fiat. I would expect something like a dollar parity.
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July 14, 2015, 05:26:17 PM
 #199

to not have a true end goal value is a little half baked imo.

I think there are so many unknowns about how this project will develop, where the demand will come from, how much demand will emerge for this currency, and how quickly that will happen, that it would be presumptuous of our team to try to specify an end goal value. JMHO.

It is naive to believe that GRT will at all replace fiats and as such, GRT should have a fiat value or it is useless.

We're not claiming it will replace fiats. We're just trying to create a currency that will be an alternative for people to use, if they agree with our ideas about how to create a better monetary system.

Trying to peg the value of a currency to the price of a fiat currency is challenging at best. Even governments that try to do this sometimes have trouble maintaining a specific set value for their currency, because the natural forces of supply and demand are always going to tend to move the price around. To maintain a set price, an institution has to be constantly issuing or removing currency from circulation to compensate for the fluctuating effects of supply and demand. The Grantcoin Foundation doesn't have the staff, funding, experience in monetary policy, etc., to try to do that. We have to just let the free market set the price of our currency, like with most currencies in the world.

by its nature, if a crypto did replace fiats, it would not be GRT to do it, it would more likely be a gov’t affiliated crypto or a crypto without a humanitarian agenda. A true trade currency.

You're assuming that people won't want to trade with a currency that has a humanitarian agenda. The Grantcoin team starts from the opposite assumption, that the *only* type of alternative currency that a large number of people would ever want to use, if they're inclined to bother to use something else besides the fiat currency they would normally use, is a currency which is designed to do social good.

Let's ask ourselves why 99.9% of the world's population hasn't chosen to start using Bitcoin, even though most people by now know about it. My guess is that it's because Bitcoin doesn't appeal to the billions of suffering people in the world by providing them with access to capital. It's not designed to do that. It's a hoarding-oriented currency, with no program for issuance of the token to get it into the hands of the poor and provide them with economic opportunity.

The only way that "regular people" are ever going to get into crypto is through a crypto that actually helps them, not one that is primarily owned by a small number of techie early adopters and doesn't distribute the money supply to people who need access to capital. JMHO.

The objective should be to work with the fiat of those in need, not try and reconstruct the monetary system.

Trying to build a better alternative to the existing monetary system is the primary purpose of Grantcoin. We've been clear about that from the beginning.

To help both the investors and those in need, there should be an optimal equivalence to a fiat. I would expect something like a dollar parity.

I will agree that dollar parity would certainly be convenient for users. But how would we actually accomplish that, without having to constantly try to manipulate the price through issuing and removing coins from circulation?

Grantcoin: Currency with a Conscience. Distributed as charitable grants by a 501(c)(3) tax-exempt nonprofit organization. Learn more at Grantcoin.org
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July 14, 2015, 05:38:03 PM
 #200

Hey everyone,

Check out Grantcoin's new Facebook page in Greek:

https://www.facebook.com/grantcoingreece

If you know anyone in Greece who is interested in ideas for monetary reform, please let them know about this page. Thank you!
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