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Author Topic: [ANN] Grin | PoW Mining | Electronic transactions for all. Community driven.  (Read 61628 times)
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January 22, 2020, 04:41:51 AM
 #1481

Would Binance list a real community coin similar to Grin? I reckon Changpeng Zhao might do what they did to Jared and Digibyte. Demand a fee of 1/3 the supply hehehe.
I am curious why Binance has not yet listed Grin coin on their platform while they already listed BEAM. I have my feeling that Grincoin is much more favorited by altcoin-crypto community, rather than BEAM. BEAM tends to be more favorited in South of Korea.

To continue for Febo, Grin is not only favored by the altcoin community. Some of the oldest of bitcoiners also support it as shown by the donations that came from very old miner public keys.

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February 03, 2020, 07:05:36 PM
Last edit: February 03, 2020, 07:25:17 PM by arielbit
 #1482

i have an idea.

this might help grin adoption and it could be a really cool feature.

a feature of transparency and trace-ability. let's say a company or business will have grin as an asset in their portfolio like 100,000 grins.

after being bought from a KYC exchange, the TT (transparent and trace)  feature will be enabled in a wallet that have multi signatories.

TT feature cannot be disabled and function just like bitcoin for those 100,000 grins, it can only be disabled if the signatories disabled the TT function- like when the company liquidated the assets or a portion of that is to be liquidated.

when a portion or all of the asset is liquidated(disabled TT), it will then return to the normal/default anonymous/untraceable crypto coin.

in this way people who like to have traceable payment/asset/coin economy can have their little bubble inside the "grin fungible" ecosystem/blockchain.

the more people using grin the merrier.

this also creates "asset protection", if the company/business gets hacked. the thief will have a hard time cashing it out, without the signatories to disable the TT feature, it will become less attractive to thieves. imagine how enticing it is for the those kind of users.

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February 04, 2020, 02:49:22 AM
Merited by South Park (1)
 #1483

@tromp. Would Grin's monetary policy not end similar to the diamond market where different groups come into agreement and does artificial scarcity by controling the supply of diamonds released in the market?

I reckon Asic miners might form a similar type of understanding. Would it not be the best for the Grin project if it copied Monero's exploration on Asic resistance to avoid formation of similar power groups?

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February 04, 2020, 09:15:47 AM
Merited by Hueristic (1)
 #1484

@tromp. Would Grin's monetary policy not end similar to the diamond market where different groups come into agreement and does artificial scarcity by controling the supply of diamonds released in the market?

Release of Grin into the market is controlled by mathematics dictating 1 Grin/sec, which is beyond the control of any cartel.

A cartel of all chip manufacturers, by TSCM, Samsung, Intel, etc. could produce superior Grin ASICs and keep them all to themselves, running them in their own data centers, and thus mine a majority of Grins. It would still be 1 Grin per second.
There would be little point in doing that for Grin (at a huge loss) when it could be done for Bitcoin instead (at a smaller loss).
In any case, in that exceedingly unlikely event, Grin could then change PoW.

Quote
I reckon Asic miners might form a similar type of understanding. Would it not be the best for the Grin project if it copied Monero's exploration on Asic resistance to avoid formation of similar power groups?

Monero is just one ASIC away from realizing that their quest for ASIC resistance is futile.
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February 04, 2020, 02:18:10 PM
 #1485

....

Monero is just one ASIC away from realizing that their quest for ASIC resistance is futile.


I merited your post for the first portion, this portion is patently false. Apparently you are not aware that there have already been secret ASIC miners on the Monero network. If you are aware of that then you might want to rethink your statement.

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February 05, 2020, 12:42:49 AM
 #1486

@tromp. Would Grin's monetary policy not end similar to the diamond market where different groups come into agreement and does artificial scarcity by controling the supply of diamonds released in the market?

Release of Grin into the market is controlled by mathematics dictating 1 Grin/sec, which is beyond the control of any cartel.

A cartel of all chip manufacturers, by TSCM, Samsung, Intel, etc. could produce superior Grin ASICs and keep them all to themselves, running them in their own data centers, and thus mine a majority of Grins. It would still be 1 Grin per second.
There would be little point in doing that for Grin (at a huge loss) when it could be done for Bitcoin instead (at a smaller loss).
In any case, in that exceedingly unlikely event, Grin could then change PoW.

Quote
I reckon Asic miners might form a similar type of understanding. Would it not be the best for the Grin project if it copied Monero's exploration on Asic resistance to avoid formation of similar power groups?

Monero is just one ASIC away from realizing that their quest for ASIC resistance is futile.


However the cartel would hold most of the coins from being released on the market to create artificial scarcity and manipulate the price, similar to what a cartel is doing on the diamond market. The cartel will have power over coin issuance. It might appear like they are the federal reserve hehehe.

In any case, agreed. That was why we in the Aeon community supported smooth and stoffu's hardfork to kangaroo12 mining algorithm and welcomed Asics. However, for infinite emission, I reckon Asic resistance might be more of a serious concern?

@Hueristic. What the source of this information?

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February 05, 2020, 04:52:18 AM
 #1487

To continue for Febo, Grin is not only favored by the altcoin community. Some of the oldest of bitcoiners also support it as shown by the donations that came from very old miner public keys.
One of them are theymos, who read the whitepapter of Mimble Wimble years ago, and in 2019 added Grin coin as the second means to buy the forum's Copper membership. I think in the long run, the Grin coin has very good potential to beat Monero, when its inflational rate decrease and the coin jumps into deflational phase.

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February 05, 2020, 04:59:37 AM
 #1488

@Hueristic. What the source of this information?

My memory.

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February 06, 2020, 04:21:00 AM
 #1489

@Hueristic. I thought that was a joke. You might be correct, however hehehe. Monero's hashrate has already risen to more than double in 2 months. That might be the first sign that Asics are back again.

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February 09, 2020, 07:39:55 PM
 #1490

@Hueristic. I thought that was a joke. You might be correct, however hehehe. Monero's hashrate has already risen to more than double in 2 months. That might be the first sign that Asics are back again.


Miners never all update first day. With Monero changing mining algo that favorite CPU miners also meant that many GPU miners moved to other coins. If all would go immediately back to Monero then hash rate would be probably higher then today. They did not. Some did. CPU miners definitely did and some CPU miners that was waiting for the fork joined. Actually many. And new one were then joining every week. Not to mention price of Monero doubled from time of the fork.  So hash rate should double simply because of that. It will actually. It will be soon 2 GH/s and then 3 and more.

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February 10, 2020, 12:51:36 AM
 #1491

@Febo @Hueristic. I have forgotten that stoffu already explained about this issue. Miners mine on a higher hashrate in RandomX because it is faster to compute than cryptonight.

https://bitcointalk.org/index.php?topic=641696.msg53324704#msg53324704

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Hueristic
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February 16, 2020, 05:02:40 PM
Last edit: February 16, 2020, 05:19:17 PM by Hueristic
 #1492

@Febo @Hueristic. I have forgotten that stoffu already explained about this issue. Miners mine on a higher hashrate in RandomX because it is faster to compute than cryptonight.

https://bitcointalk.org/index.php?topic=641696.msg53324704#msg53324704


You misread my statement, I never said there were current ASICS and do not believe there are or even will be if the Devs do as I suggested years ago and have a backup algo ready to go as a deterrent. AAMOF if they had done it back then then we never would have had the secret ASIC mining issue we did have in the first place as we could have forked immediately instead of waiting 6 months when the rate doubled when the first cryptonight ASICs were created(2017 IIRC) and that would have made their venture unprofitable and therefore they would not have wasted the resources to try it again.

All you need to do for a deterrent is to prove you are willing to do what it takes, mutually assured destruction is the ultimate form of this (I.E. a Doomsday machine) and it is 100% effective. That is an example it would be foolish to make a doomsday for a decentralized network as an asic friendly would be preferable to that but I think you get the idea I am trying to put across here. I think my mother described it best when she said I would cut off my nose to spite my face. Smiley

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February 16, 2020, 06:20:09 PM
 #1493

All you need to do for a deterrent is to prove you are willing to do what it takes, mutually assured destruction is the ultimate form of this (I.E. a Doomsday machine) and it is 100% effective.

Just like the death penalty is 100% effective at preventing homocides?

The more serious your readiness to switch PoW, the more stealthy the ASICs will be operated...
until you're not sure whether they operate at all.
Or whether they're FPGAs, that will be very unimpressed with your PoW switch.
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February 17, 2020, 12:17:46 AM
 #1494

All you need to do for a deterrent is to prove you are willing to do what it takes, mutually assured destruction is the ultimate form of this (I.E. a Doomsday machine) and it is 100% effective.

Just like the death penalty is 100% effective at preventing homocides?

The more serious your readiness to switch PoW, the more stealthy the ASICs will be operated...
until you're not sure whether they operate at all.
Or whether they're FPGAs, that will be very unimpressed with your PoW switch.

IIRC your Coocko Cycle was supposed to be the asic cure, so just because you failed you now think everyone should quit trying?

Your death penalty analogy is horrible, try harder. I think your main misconception is the cost involved in ramping up new chip designs.

Secret Asic and FPGA will always leak out the trick is to make ROI before the market can react in this war. Whenever has jumps non-linear the community notices, its not like you can stealth for long and also ROI against a determined opponent. That is qualified with the fact there is a standby algo available, creating one after the fact just feeds the asic and I would not be surprised if there is some profit going on there in between the lines.

I was interested in looking into polymorphic algos and that would have been a gpu boon and possible the new hybrid fpgas but back then there were no hybrid fpgas.

There are correlations when studying Quantum resistance.

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February 17, 2020, 01:23:04 PM
Last edit: February 17, 2020, 07:17:22 PM by Gash
 #1495

@tromp. Would Grin's monetary policy not end similar to the diamond market where different groups come into agreement and does artificial scarcity by controling the supply of diamonds released in the market?

Release of Grin into the market is controlled by mathematics dictating 1 Grin/sec, which is beyond the control of any cartel.

A cartel of all chip manufacturers, by TSCM, Samsung, Intel, etc. could produce superior Grin ASICs and keep them all to themselves, running them in their own data centers, and thus mine a majority of Grins. It would still be 1 Grin per second.
There would be little point in doing that for Grin (at a huge loss) when it could be done for Bitcoin instead (at a smaller loss).
In any case, in that exceedingly unlikely event, Grin could then change PoW.

Quote
I reckon Asic miners might form a similar type of understanding. Would it not be the best for the Grin project if it copied Monero's exploration on Asic resistance to avoid formation of similar power groups?

Monero is just one ASIC away from realizing that their quest for ASIC resistance is futile.


However the cartel would hold most of the coins from being released on the market to create artificial scarcity and manipulate the price, similar to what a cartel is doing on the diamond market. The cartel will have power over coin issuance. It might appear like they are the federal reserve hehehe.

In any case, agreed. That was why we in the Aeon community supported smooth and stoffu's hardfork to kangaroo12 mining algorithm and welcomed Asics. However, for infinite emission, I reckon Asic resistance might be more of a serious concern?

@Hueristic. What the source of this information?

Secret cartel mining a shitcoin ... lol Dont get taken away by these absurd fancies. For that matter, if hypothetical cartels made it their mission to pursue really big profit, It would be more profitable for them to export heroine from Afghanistan, and have people sniff it at home and then manufacture asics out of metal talons found in locks in which bags with heroin are hidden.
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