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

[Hueristic]

I reckon some research and development on Asic resistance must be given some support. I reckon we can learn from Monero’s RandomX deployment.

Tromp's Cuckoo Cycle Cuckatoo31+ is ASIC-friendly and was a design decision.

[bbc.reporter]

I reckon some research and development on Asic resistance must be given some support. I reckon we can learn from Monero’s RandomX deployment.

Tromp's Cuckoo Cycle Cuckatoo31+ is ASIC-friendly and was a design decision.

Yes I am aware of this. I was also a supporter of Aeon’s change to an Asic friendly mining algorithm and agreed for the arguments for it. However, witnessing bitcoin’s hashrate drop after the coal mine explosion in a province in China and the threats of government on miners, it appears to me that Asic resitance research is very much needed for the future of the cryptospace.

Do you speculate that RandomX will also have Asic miners?

[mindrust]

Couldn't resist. Went mid-heavy on this today. I am again in my gambling mood after a very long break. This is one of the cheapest shitcoins after everything mooned lately. Its turn will come.

$64m marketcap, ranking  #533 at CMC, backed by Theymos/BTT. Easy buy. Expected returns = x100

The biggest problem of GRIN is that it is only listed on Kucoin. (I don't consider the others legit exhanges) If this was on Binance it would have been a multi-billion marketcap coin already but you know, things may change quickly in this space. And it is a lot better to buy before it happens.

Now let's repeat:

"There are only 73 million GRINS out there. If every dollar millionaire wanted to have 10 grins, they couldn't have it."

[tromp]

it would have been a multi-billion marketcap coin already

It most likely wouldn't be, with only 2.4% of its soft total supply [1] emitted so far.

[1] https://john-tromp.medium.com/a-case-for-using-soft-total-supply-1169a188d153

[mindrust]

it would have been a multi-billion marketcap coin already

It most likely wouldn't be, with only 2.4% of its soft total supply [1] emitted so far.

[1] https://john-tromp.medium.com/a-case-for-using-soft-total-supply-1169a188d153

These stuff don't matter anymore. Have you checked the dogecoin chart? Unlimited supply don't mean shit when the other side have unlimited FIAT.

Dogecoins current supply - 129517138099 - is 41 times bigger than grins 100 years later market cap

Its pure linear emission of 1 Grin per second forever, will reach its soft supply of a century (100*365*24*60*60s) of Grin, only in 2119.

https://john-tromp.medium.com/a-case-for-using-soft-total-supply-1169a188d153

...which is 3153600000 grins.

Getting only 1000 GRINS would guarantee you to be in the 1 million club for the next 30 years. Personally I expect the price action to happen much sooner. (unless the FED raises the interest rates and buries everything or people find out that Tether bucks don't really exist :d)  Then I would only lose a few hundred bucks :p It is worth taking the risk. The upside potential is much bigger.

[bbc.reporter]

Couldn't resist. Went mid-heavy on this today. I am again in my gambling mood after a very long break. This is one of the cheapest shitcoins after everything mooned lately. Its turn will come.

$64m marketcap, ranking  #533 at CMC, backed by Theymos/BTT. Easy buy. Expected returns = x100

The biggest problem of GRIN is that it is only listed on Kucoin. (I don't consider the others legit exhanges) If this was on Binance it would have been a multi-billion marketcap coin already but you know, things may change quickly in this space. And it is a lot better to buy before it happens.

Now let's repeat:

"There are only 73 million GRINS out there. If every dollar millionaire wanted to have 10 grins, they couldn't have it."

Grin is very worth the buy in these very low price levels. The monetary policy alone will show that its distribution is the correct way to become a real digital currency for the internet. I have been telling everyone this, however, many do not want to understand. They will see in 4 years.

[mindrust]

Grin is very worth the buy in these very low price levels. The monetary policy alone will show that its distribution is the correct way to become a real digital currency for the internet. I have been telling everyone this, however, many do not want to understand. They will see in 4 years.

This is how it always happens. People didn't want doge when it was below a cent and most of them dumped theirs as soon as it hit 60 sats (me too) and now it is what? over a thousand sats? Now everybody wants it. People who waited patiently are now enjoying their winnings and dumping their stash on the newcomers.

Personally I didn't think doge would make a move like this but there are apparently some people out there has foreseen this.

Something similar can happen to this coin too.

[mindrust]

Hello grinners. Been playing around a bit with grin lately. Thought I would fire up my old BCT account and check out the thread here.

I never buy an altcoin early because of that early inflation. I watched grin for a while for a bottom. Finally just bought hoping I caught the bottom.

It's a really cool project. Criminally undervalued at rank #500+. I hope the wider crypto community recognizes. this.   But what ever, I'm willing to gamble a little on the hopes that they will.

Wtf. I haven't seen this post till now. And I just realized I almost typed the exact same thing yesterday :d I don't know if 1.3 bucks is the bottom it is probably not. I could have bought 2x to 5x more coins If I bought earlier but It won't matter much in the long term I suppose.

And this dude gave him almost the same answer:

It's a really cool project. Criminally undervalued at rank #500+.

Don't judge Grin by marketcap. It's only at about 2% of its soft total supply after all [1].
Better judge it by daily dollar emission, as seen on this PoW ranking [2], where it's in the top 25.

[1] https://john-tromp.medium.com/a-case-for-using-soft-total-supply-1169a188d153
[2] https://www.f2pool.com/coins

I guess that low marketcap attracts many value inves... I mean gamblers.

[edipra997]

how much grin total supply?

[OcTradism]

how much grin total supply?

Max supply is unknow like Ethereum. Grin coin information

You can join Grin Observer topic. If you don't know, the admin of forum like this coin and accepts it as one of two payment methods for the forum Copper membership.

Coindesk has one article that explains Grin coin's monetary policy

Monetary Policy

The block reward is set to remain at 60 grin per block solved.

This causes grin to be inflationary at a decreasing rate. Grin will experience high levels of inflation in the early days as each block has a great impact on the circulating supply; as time goes on, this effect will decline.

Grin has a target block time of one block per minute, effectively resulting in 1 grin mined (created) every second. The community argues that sound money has more to do with a transparent emission schedule, than a capped supply. The system by design has no supply maximum limit.

[mindrust]

Dang. I guess I became a bag holder too now. R.I.P my half of an iphone money. :p

Anyway I trust theymos's vision. See you in 2-3 years again.

[bbc.reporter]

@tromp. It appears Grin’s experiment and theory on its monetary is being proven reasonable by Elon Musks actions hehehehe. Everything about hoarding as centralization pressure and whales having an unfair economic advantage and influence over everyone are shown to be real. I am waiting on the most dangerous, Michael Saylor to influence bitcoin’s development.

[OcTradism]

Anyway I trust theymos's vision. See you in 2-3 years again.

It is the vision of theymos.

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%

I would try to accumulate more Grin coin and wait for the year of 2024 or 2025. The new bull cycle of crypto market with Bitcoin halving in 2024 will be cool. It together with the plummet of Grin coin inflation rate will have double effects on the price of GRIN.

It would be time to grin. 

[mindrust]

Anyway I trust theymos's vision. See you in 2-3 years again.

It is the vision of theymos.

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%

I would try to accumulate more Grin coin and wait for the year of 2024 or 2025. The new bull cycle of crypto market with Bitcoin halving in 2024 will be cool. It together with the plummet of Grin coin inflation rate will have double effects on the price of GRIN.

It would be time to grin. 

Yeah I forgot this chart. According to that chart, even in 2024 or 2025 GRIN will still have very high inflation. If the demand keeps being low, the value won't move upwards much.

Everything can change in seconds if CZ makes a new announcement and starts listing GRIN on Binance.

Big news are way more important than any monetary policy in this space. Still, it is a big gamble. That announcement may never come.

[Texacha]

Everything can change in seconds if CZ makes a new announcement and starts listing GRIN on Binance.
Big news are way more important than any monetary policy in this space. Still, it is a big gamble. That announcement may never come.

Unfortunately, you're right.
And this means - the price of decentralized anonymous coin depends from centralized company or even worse, from one man running that company.
Kinda sad.

[mindrust]

Everything can change in seconds if CZ makes a new announcement and starts listing GRIN on Binance.
Big news are way more important than any monetary policy in this space. Still, it is a big gamble. That announcement may never come.

Unfortunately, you're right.
And this means - the price of decentralized anonymous coin depends from centralized company or even worse, from one man running that company.
Kinda sad.

I know you agree with me but I wanted to add,

I am not talking these out of my butt.

I know how people (me included) treated doge and told the others that doge has infinite supply, it will never worth anything, it will die of inflation, it is just a meme, it is a joke, it is a shitcoin ...and there it is. Listed at CMC on 4th or 5th spot. Being traded like a mother fucker with huge volume.

Anybody could have bought a million dogecoins only for 2 thousand bucks 6-7 months ago.

That taught me one thing:

Anything is possible.

[Texacha]

True, but again, where did DOGE pump come from? Good fundamentals and decentralization? Nope. It was again one man show, in this case by Elon Musk. In other cases it could be CZ or back in 2017 John McAfee. When something depends oo one man (not even one company or board of directors, but one man), it can't be more centralized.

And just to be clear, I don't expect GRIN price to explode in next few years, but I buy GRIN from time to time and slowly accumulate. I look at it as really long term investment and have no intention to sell in next several years.

[drays]

True, but again, where did DOGE pump come from? Good fundamentals and decentralization? Nope. It was again one man show, in this case by Elon Musk. In other cases it could be CZ or back in 2017 John McAfee. When something depends oo one man (not even one company or board of directors, but one man), it can't be more centralized.

That's true, but, its not about centralization or decentralization. That one man can be CZ, Musk or any other "influencer", be it Kim Kardashyan, Mia Khalifa or Donald Trump. Doesn't matter who. The endorsement and millions of empty-headed followers matter. Those effects are not specific to crypto, and they are not inherent to crypto. This is all about herd mentality being adopted by masses.

[Welsh]

Dang. I guess I became a bag holder too now. R.I.P my half of an iphone money. :p

Anyway I trust theymos's vision. See you in 2-3 years again.

What exactly is his vision, because going by his reply here:

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.

His vision on a statistical sense, is that Grin is more likely to fail, than it is to succeed, and by succeed I mean out compete existing cryptocurrencies. Whether that is because of authoritarianism or an alternative is provided on a Bitcoin sidechain Obviously, we all like Grin as it definitely is one of the better alternatives out there, but blindly trusting anyone's vision isn't the best idea in my opinion.

You could argue that; a global authority, has already limited privacy coins by removing them from the most popular exchanges. That could potentially be argued as a global authority, although I do believe theymos likely had bigger authority figures in mind when he made this prediction.

My personal input is; I believe there's definitely money to be made in Grin, but I'm not convinced that it will out compete Bitcoin. I do believe, combining Bitcoin, and Grin's most exciting features could lead to a better alternative to both.

True, but again, where did DOGE pump come from? Good fundamentals and decentralization? Nope. It was again one man show, in this case by Elon Musk. In other cases it could be CZ or back in 2017 John McAfee. When something depends oo one man (not even one company or board of directors, but one man), it can't be more centralized.

Lets not pretend that if Grin had received a similar reception among celebrities, it would have had the exact same impact. No industry is immune to the herd mentality that these authority figures create.

We simply can't effectively reduce the influence that people have on others, so centralization in that aspect will always be prevalent.  

[bbc.reporter]

@Welsh. However, outcompeting Bitcoin in what category? As a speculative asset? I reckon because of Grin and Bitcoin’s difference in monetary policy, I speculate that Grin can outcompete Bitcoin as a medium for payments and as a store of value in 10 years time because Grin will be the less volatile coin.