[ANN] Grin | PoW Mining | Electronic transactions for all. Community driven.

[LFC_Bitcoin]

Hands up who is going with this just because theymos has backed it himself?

I'm in that boat. I wouldn't have bothered with this at all if it wasn't for theymos. However, I have been hearing about this on twitter for quite sometime.

I was tempted, very tempted to look into mining it tbh. Think I’ll wait until it becomes accessible on exchanges though. If it’s still cheap enough then (under $10 - $20) I can buy a couple of hundred or something & forget about them for a bit.

I just don’t want to be bothered with committing to mine it.

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[bones261]

I was tempted, very tempted to look into mining it tbh. Think I’ll wait until it becomes accessible on exchanges though. If it’s still cheap enough then (under $10 - $20) I can buy a couple of hundred or something & forget about them for a bit.

I just don’t want to be bothered with committing to mine it.

It currently is available in quite a few exchanges. https://www.coingecko.com/en/coins/grin/trading_exchanges#panel However, I am not familiar with any of the exchanges and don't fell like opening another exchange account. At the moment, the mining software seems to require you to have at least 7gb of virtual memory be set aside per card for the CPU. So it may be a real PITA for larger GPU rigs.

[_javier_]

For a moment i thought this was BTC WO thread  so many known hats.. err.... names.

[bobymoore]

Hi, can I mine to win 10 with vega 64,how much $? per day? Is there a wallet or I have to mine to exchange?

[mlord10]

I really despise coins that launch with only a cli client. It is so 90s. Also, not having an official Windows version is not forgivable. Correct me if I am wrong, didn't Satoshi launch BTC with both a GUI and Windows compatible?
    I have found the miner that is compatible with Windows and have mined it a little, starting yesterday. However, the cooling on my desktop is shitty, especially for the CPU. I don't like to see my CPU temps running in the 70s with spikes in the 90s. So I have only been running it for about an hour here and there.
    I haven't bothered setting up a node yet. I haven't used the VM in over a year and don't think it is worth it to run a node via Vultr.
    (As an aside, I am running Grin Gold Miner, and I think it's funny that it stores my password in plain text.  But so does BTC RPC. Oh well.)

The password is just to create the account if you're mining on grinmint, you can take the password out of the config file and continue mining

[CallMeTomas]

https://i.imgur.com/BHldBP0.png

Hey, I'm really confused over the wallet, I don't own anything apple and I'm clueless regarding Linux. So far I've been mining on F2pool and storing my earnings there, but it's a temporary solution. How long before a windows (and please GUI) wallet is released?

[Last of the V8s]

Hands up who is going with this just because theymos has backed it himself?
....

His enthusiasm has been a rare delight, and I went into it just precisely because of that. It was an important moment, relieving the boredom of waiting for the moon or the lightning network or whatever. I'd never studied the design and launch of an altcoin before, and picked up at least a couple of things.

[100bitcoin]

Have anyone tried to mine Grin on Google Cloud?

[lerich]

I really despise coins that launch with only a cli client. It is so 90s. Also, not having an official Windows version is not forgivable. Correct me if I am wrong, didn't Satoshi launch BTC with both a GUI and Windows compatible?
    I have found the miner that is compatible with Windows and have mined it a little, starting yesterday. However, the cooling on my desktop is shitty, especially for the CPU. I don't like to see my CPU temps running in the 70s with spikes in the 90s. So I have only been running it for about an hour here and there.
    I haven't bothered setting up a node yet. I haven't used the VM in over a year and don't think it is worth it to run a node via Vultr.
    (As an aside, I am running Grin Gold Miner, and I think it's funny that it stores my password in plain text.   But so does BTC RPC. Oh well.)

offtopic: I switched to Linux (single boot) in 2015 when windows 10 came out and it became obvious that nothing has changed for the better, after that I never looked back. To me today it's incomprehensible why people are using this junk adware/bloatware/spyware combination, that installs and deletes things on YOUR computer without your knowledge. But I'm not a hater, so I forgive such people, after all they may need it to make money in proprietary software or something.. I wish I persisted with the switch back in the day, then I would most certainly knew about bitcoin in 2009-2010 because of its proximity to hacker/coding culture, and maybe I would have made some profits on these skills.

[Hueristic]

Hands up who is going with this just because theymos has backed it himself?
....

It's not like you guys were not warned.

What is the economic model?  I read a while back that there was something funky about it and not that appealing.  

1 grin is created per second on average, forever. Similar to XMR. Not ideal IMO, but it does tend to be deflationary long-term.

What's the general consensus on Grin? Are we buying it or Is theymos trolling us again with another shitcoin? (remember howey) No address, no coins, sounds weird af. I don't know what to think about it.

Not a shitcoin but it is not an investment vehicle.

Don't you think infinite supply will play role of pressure element on he price of coin ? There is lot of hype before the launch of this coin what is scheduled in two days now. I hope they will be much more careful with security and safety as first impression will be the last. We saw what happens with Beam with vulnerability. These are the two coins succeeded to get attention of everyone in very short time.

Beam is a money grab, tail emission is a design decision of a solid currency.
It doesn't matter if the pump and dumper can't make cake, its not designed for that so if the tail emission scares you then don't use this coin.

@Theymos finds the tech interesting and does not do pump and dumps.

I find the goals laudable and the tech interesting if not immature atm, the tech will be amazing if matured due to the scaling if nothing else.

[Last of the V8s]

How many transactions per second could the Grin network do right now? What plans are there to increase that if needed?

[lightcar]

don't get fooled into buying this shitcoin guys, members are trying to hype up this junk with its massive inflation rate.  Price will do nothing but drop.

[bones261]

don't get fooled into buying this shitcoin guys, members are trying to hype up this junk with its massive inflation rate.  Price will do nothing but drop.

You don't buy POW coins in their first few weeks of launch. You mine them...

[earlygrinminer]

Have anyone tried to mine Grin on Google Cloud?

I don't know about Google but I have used this guide https://github.com/ideashavenoborders/grin-cloud-mining/blob/master/README.md to CPU mine. It's expensive but I like the fact that I can mine some GRIN on CPUs still. Even though the reward is low. I think Grin will be at the ranks where Litecoin has lingered for a couple years. Short term I believe it's best to buy it once it's traded below $1. In the long term I see it at $10+. I believe that Grin will boom even more than dogecoin. It's private ecash. I'ma use some and save some as they roll in

[theymos]

How many transactions per second could the Grin network do right now? What plans are there to increase that if needed?

~1.5 MB max block size, with a block per minute. Transactions are much larger than Bitcoin, though. So about 14 tps right now.

Bitcoin's scaling is limited to a large degree by the need for historical blocks to be widely available. Grin on the other hand can mostly forget its history, so its full nodes only need to store/process live transactions, and grin can safely increase its max block size linearly with worldwide Internet speeds and/or CPU speeds.

Many altcoins just increase their max block size and hope for the best, but if any of these altcoins were actually widely used, this would cause severe centralization at best or total system failures at worst. It's like putting a bigger "max capacity" sign on an airplane. Some altcoins have ways of cutting out old history, but although there are theoretically some not-too-bad ways of doing this, usually altcoins do it in really centralized/stupid ways (eg. checkpoints, or ETH "full nodes" just not bothering to verify anything by default), and even in the best case it results in a loss of functionality and security. grin is the first coin with a reasonable, decentralized, and secure way of dropping historical data.

[theymos]

What are your thoughts on solo GPU mining at present ?

Worth it ? Or stick with pools other than f2pool ?

I'm not that interested in mining generally -- haven't mined anything in years --, so I can't really give advice. Solo mining will give you at least as much average income, but with more variance.

IMO the current price is roughly fair on a fundamental level, but I also wouldn't be surprised it it falls a lot more.

[kronos123]

don't get fooled into buying this shitcoin guys, members are trying to hype up this junk with its massive inflation rate.  Price will do nothing but drop.

You don't buy POW coins in their first few weeks of launch. You mine them...

Wise advice, but many seem to forget or ignore.

I also want to point out to @lightcar that the massive inflation is due precisely to the characteristics themselves and to Grin's objective, not to be a fork like Bcash and the like and not to be pre-mining, to have no foundation or shares in the hands of a company (as in all Ico).

Finally, inflation goes diluted, going from 100% in 2 years to 10% after 10 years, to 5% after 20 years; in comparison you have to date Bitcoin with about 3%, Ethereum about 6%, Monero about 5%, while the inflation of Fiat in the industrialized world is also between 2-4% .... therefore l Inflation of Grin is correct and fair to its purpose, it must only mature.

[bbc.reporter]

Hands up who is going with this just because theymos has backed it himself?
I’m going to give it a miss myself for now, maybe I’m being stupid but I can always buy in at a later date if it’s making obvious positive steps.

Edit - I’m waiting for the ‘I downloaded a fake Grin wallet that contained malware & somebody stole all my bitcoin’ threads

theymos' backing helped, however I have already heard of Grin from other Aeon supporters last year and I immediately found it interesting because Mimble Wimble had another implementation on privacy.

I am supporting the project by running a node and I do not hold any grins at present. I reckon we need more privacy solutions created in the cryptospace but for mainstream usage to keep the people safe from government intrusion that limit our freedom.

[Dig Bicks]

What are your thoughts on solo GPU mining at present ?

Worth it ? Or stick with pools other than f2pool ?

I'm not that interested in mining generally -- haven't mined anything in years --, so I can't really give advice. Solo mining will give you at least as much average income, but with more variance.

IMO the current price is roughly fair on a fundamental level, but I also wouldn't be surprised it it falls a lot more.

You of all people should know that fundamentals show little correlation with price in crypto. Richard Heart talks about this in his recent videos.  Coins have gotten 51 % attacked and have still risen in price!

I appreciate your optimism but people aren't using crypto for commerce, THE BLOCKS ARE NOT FULL, last thing we need is scalability.  To be honest most people don't care about privacy, it is why the patriot act stands in America because of very little resistance.  How many places actually accept crypto? and Bitcoin had 10 years and it has come a long way, but a marketcap under 100billion is nothing in regards to the global financial sector.  It is more of a store of value at this point which is fine and maybe even a better use instead of being p2p cash.

[Saydia]

There is information from the developers when there will be a normal coin wallet? mockery of some sort.