grin is now accepted for forum payments

[mdayonliner]

11 cent is 0.00003064BTC when price is $3,590. Consider the price $20k, more hash difficulties more more btc as payment fees. Multiply that with the rate $20k. This was what happened when bitcoin had it's ATH. In dollar currency people even paid more than $10 for transactions.

If you extrapolate the same 0.00003064 to $20,000 that's still only $0.61. A lot has changed between now and a year ago to help keep tx fees down, in terms of satoshis. The last time fees were this low was 2 years ago, when the price of BTC was about $390.

If the price spike up like it did for the ATH the this plain equation is not gonna work. Sure it will be a lot more in terms of dollar. Anyway, my point is that... We are in a forum where we are suppose to support bitcoin. Everything we do to promote bitcoin but when a character like theymos indirectly publicly vouch for something else then it will create a mess for sure.

I could not agree more with this user...

This is what we call indirect endorsement. Just wait for the cryptonews media to handle the rest publicity. Very soon you'll see news likes  

Cryptocurrencies biggest and oldest forum "bitcointalk" co-founded by satoshi himself accepts GRIN as a means of payment

and the so called crypto-experts on twitter and YouTube will add to the hype by adding it to their top altcoin to watchout for in 2019. Some might even say GRIN is the new BITCOIN . although If I was a part of this project the news above (grins added as means of payment on bitcointalk) will be advertise on grin site. This wasn't the intention of theymos although when a forum like bitcointalk accepts you as a means of payment it's an indirect endorsement sending signals to potential investors that the project is a go for...

Once this Bcash guys will discover this they will take it to another level.

To get a forum credit of 0.00208333 BTC via grin, send 0.694443333 grin

7$ vs 3.7$

By the time the friday price increase comes, you might buy a membership with a few cents

Blow me I should have seen this before. I just paid for my copper membership in BTC LOL.

Hey, I believe we should only have BTC as payment method. We are Bitcoiner guys. Is n't it should be the whole point?

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[theymos]

And i thought Grin won't launch it's mainnet anytime soon. But looks like the client is far from user-friendly and only mid-high end GPU can mine GRIN for now.

Any chance you'll accept another cryptocurrency (XMR, ETH or perhaps DOGE) soon?

XMR is possible, but probably not the others.

I guess I have already proven my point. Didn't expect it this quick though.

24h Low / 24h High
$6.92 / $261.65

Imagine FOMOing and buying it for $261.65.

Since the inflation rate is so high in the first ~year, I think it will probably go even lower, probably under $1, and I'd expect the price chart of the first year to be a general downward trend. Again, I don't particularly recommend buying this stuff, and I myself am not going to be buying large amounts soon. But if it survives for several years and ends up competing effectively with other coins on scaling and privacy, then the inflation rate starts becoming reasonable even despite its unlimited supply (see my comment here), and we could at that point see an upward price trend. Even at $1 it'd be an extremely risky investment, but in any case it's an extremely interesting piece of tech.

And I'll be periodically adjusting the forum exchange rate, BTW.

We are in a forum where we are suppose to support bitcoin. Everything we do to promote bitcoin but when a character like theymos indirectly publicly vouch for something else then it will create a mess for sure.

Satoshi created Bitcoin and this forum in order to change the world, not to create a "Cult of BTC". In fact, Satoshi recommended creating Namecoin, the first altcoin. (Though Namecoin ended up being one of the bolt-stuff-onto-cloned-Bitcoin systems that I've never really respected.) I'm not going to start jumping on every alt bandwagon and treating every cryptocurrency as just as good as any other, nor do I believe that grin is currently anywhere close to BTC in terms of overall utility. But grin has true merit, and if you're interested in Bitcoin for the same reasons that Satoshi created it (freedom, privacy, and interesting tech), then grin is worthy of acknowledgement.

[r1s2g3]

How the forum is going to look at grin as far the payments/transactions are concerned?
Will it be ok to do payments/offer services  in grin in the sections that were exclusively marked for bitcoin?

[phishead]

Monero

Mimblewimble has privacy features, but it also has the first really impressive, true scaling solution in crypto. Privacy-wise, Monero is probably better overall, but its scaling is abysmal, and neither coin can be treated as an impenetrable black box.

This. Monero will end up a dead coin sooner because of all the bloat it implemented.

It’s all well and good to have differing opinions on what or what shouldn’t work in a cryptocurrency, that part is completely understandable. But supporting a coin like grin on literally the first day it’s genesis block is mined is just... interesting, that’s all.

Some maximilast (like theymos has been in the past) might even call it “shilling”, but what do I know. I’m pretty positive theymos knows more than I do in general about crypto, plus he is an admin of the forum, so he can govern as he sees fit... I’m alright with that. I wouldn’t have any use to buying anything like copper membership on here so it doesn’t necessarily matter to me personally, I just felt a need to point out hypocrisy as I see it.

Btw LMDB, and especially bulletproofs, are things that both helped with scaling/memory issues in the past and drastically reduced fees.

Edit: I’m not saying Monero should be accepted over grin or anything like that either... I’m just saying bitcointalk should probably just stick to accepting only Bitcoin... if not, just don’t be surprised/annoyed when swarms of people are trying to “market” there favorite favorite shitcoin too because they might have an interesting tweak to the mimnlewimble code or whatever. It’s going to open Pandora’s box in theymos’s inbox. Lol

[eddie13]

Grin has a retarded inflation rate. How do you think its price will remain sustainable?

While I am fond of Mimblewimble, whoever decided the coin specification decided to create a serious flaw.

Doge 2.0 with some bells on? Idea is sound, but sounds like Cryptohunter sorted out the supply

I don't understand...
60 Grins created every minute forever...
Isn't it the very definition of perpetual inflation? Oo

What exactly is so terrible about the price history of DOGE? You could have done a lot worse holding many other coins. It is worth more now in terms of USD than it was even at the peak of its early pump.

I watched this early pump, I was there, I had some sells in my trade history in the 240s.

Doge has always been one of my favorite cryptoCURRENCIES..
I love sending doge around for its small fees, confirmation speed, high liquidity, can send micro amounts, great CURRENCY..

Yeah sure it's not deflationary like BTC and you probably won't get rich hodling it long term like BTC, but BTC is more aiming to be the most secure store of value and not necessarily to be used for everyday small payments.

The FEDs in charge of fiat currencies do have a bit of a point about inflation keeping the currency flowing, they don't do that by accident..
High deflation stops currency flow in its tracks. Their are plenty of threads about why people don't spend BTC..

Since the inflation rate is so high in the first ~year, I think it will probably go even lower, probably under $1, and I'd expect the price chart of the first year to be a general downward trend. Again, I don't particularly recommend buying this stuff, and I myself am not going to be buying large amounts soon. But if it survives for several years and ends up competing effectively with other coins on scaling and privacy, then the inflation rate starts becoming reasonable even despite its unlimited supply

I think it could be the best CURRENCY yet, to actually be used as a currency..
So what if Grin will only be $0.01 each in a few years. You can still send $1,000,000 if you have enough of them..  

Satoshi created Bitcoin and this forum in order to change the world, not to create a "Cult of BTC".
if you're interested in Bitcoin for the same reasons that Satoshi created it (freedom, privacy, and interesting tech), then grin is worthy of acknowledgement.

I think their is a righteousness to the emissions rate of GRIN. The early miners aren't going to get instarich with an instamine, no premine, no ICO, and a good inflation/deflation rate in the long term for a CURRENCY..

the first really impressive, true scaling solution in crypto.

Isn't this the holy grail of cryptocurrency? To be able to truly scale and be able to do what we naively thought/hoped that BTC would do?
Bring crypto to the masses, everyone from the rich to 3rd world countries, affordable for the poor, everyone can use it to buy their coffee every morning..

This is what we need if we are going to take the power away from the elite and banks. Eliminate the last excuses to use fiat..
We all can't use BTC or any other altcoin for every transaction we all make. All of the transactions simply will not fit in any crypto while still achieving decentralization.

Can GRIN do this? Can GRIN compete with VISA and remain decentralized and immutable with a fixed supply and no trust in 3rd parties?

Isn't this what we have been waiting for to change the world?
Or is everyone just interested in what they can make a quick $ off of..

[theymos]

Will it be ok to do payments/offer services  in grin in the sections that were exclusively marked for bitcoin?

No.

Can GRIN do this? Can GRIN compete with VISA and remain decentralized and immutable with a fixed supply and no trust in 3rd parties?

s/fixed supply/predictable supply/

Yes, that combined with its privacy is what makes it so exciting. You can probably achieve even greater scaling with BTC+LN, and I consider that quite likely to be what the economy actually goes toward, but grin is a very different and interesting alternative approach.

[noman_one]

"Grin has a retarded inflation rate. How do you think its price will remain sustainable?"


Grin would have such a low inflation rate at one point that the increase of units would almost equal to 0. So...

[pönde]

And i thought Grin won't launch it's mainnet anytime soon. But looks like the client is far from user-friendly and only mid-high end GPU can mine GRIN for now.

Any chance you'll accept another cryptocurrency (XMR, ETH or perhaps DOGE) soon?

XMR is possible, but probably not the others.

For what you are accepting coins? Like what I can buy with them?

[AdolfinWolf]

For what you are accepting coins? Like what I can buy with them?

Therefore, I'm happy to announce that the forum is now accepting grin payments automatically, probably the first site other than exchanges to do so. You'll find a link at the bottom of the evil-fee and copper-membership pages.

I'm not so sure about Donator ranks, but i really doubt you'll be able to buy those with Grin yet. (As 10BTC would equal 10% of Grin's daily volume  )

[pönde]

For what you are accepting coins? Like what I can buy with them?

Therefore, I'm happy to announce that the forum is now accepting grin payments automatically, probably the first site other than exchanges to do so. You'll find a link at the bottom of the evil-fee and copper-membership pages.

I'm not sure about Donator ranks, but i really doubt you'll be able to buy those with Grin yet.

So there is nothing like atomic swap kind of things going on between the grin coins and the other coins? That I was thinking.

[infofront]

Monero

Mimblewimble has privacy features, but it also has the first really impressive, true scaling solution in crypto. Privacy-wise, Monero is probably better overall, but its scaling is abysmal, and neither coin can be treated as an impenetrable black box.

Grin has succeeding in reducing the size of the blockchain. However, it's still limited to 10 TPS, so the more significant scaling problem remains.
With it's adaptive blocksize, Monero can process >10 TPS (up to 1,700 theoretically).

[mikeywith]

ok thanks of the difficulty spikes .

[The Sceptical Chymist]

I'm also looking at Dash.

Haven't finished reading this thread yet, but watch out lest you become the next target of cryptohunter for that.  Just voice a modicum of support for Dash and you'll end up on the sharp end of his trolling stick.

Grin?  Never heard of it.  Not interested in it, even if Theymos is throwing his support at it--which makes me scratch my head a little.  But I'm obviously not nearly as knowledgeable as 95% of bitcointalkers as far as what constitutes a good altcoin anyway.

[bones261]

I'm also looking at Dash.

Haven't finished reading this thread yet, but watch out lest you become the next target of cryptohunter for that.  Just voice a modicum of support for Dash and you'll end up on the sharp end of his trolling stick.

Grin?  Never heard of it.  Not interested in it, even if Theymos is throwing his support at it--which makes me scratch my head a little.  But I'm obviously not nearly as knowledgeable as 95% of bitcointalkers as far as what constitutes a good altcoin anyway.

Meh, Jet Cash already had to face the grilling from that person. https://bitcointalk.org/index.php?topic=5098607.33 Cryptohunter decided to back off due to Jet Cash's age and not wanting to be a bully.

[CryptopreneurBrainboss]

I could not agree more with this user...

This is what we call indirect endorsement. Just wait for the cryptonews media to handle the rest publicity. Very soon you'll see news likes  

Cryptocurrencies biggest and oldest forum "bitcointalk" co-founded by satoshi himself accepts GRIN as a means of payment

and the so called crypto-experts on twitter and YouTube will add to the hype by adding it to their top altcoin to watchout for in 2019. Some might even say GRIN is the new BITCOIN . although If I was a part of this project the news above (grins added as means of payment on bitcointalk) will be advertise on grin site. This wasn't the intention of theymos although when a forum like bitcointalk accepts you as a means of payment it's an indirect endorsement sending signals to potential investors that the project is a go for...

Once this Bcash guys will discover this they will take it to another level.

One good thing about this announcement is that it actually expose me more to grin, I was just hearing the name without any serious intention to research about it but spend most of my time today doing some research after I saw this announcement. Keeping an eye on the price though , if theymos loves it why shouldn't i 😂

Can we just hold a moment of silence for those who saw this announcement and went to buy at ATH what a massive drop GRIN just experiences over -90%

[HiDevin]

I can't wait for grin to be accepted as forum payments, maybe one day you'll accept the bitconnect tokens that people have and make them billionaires too.

[0xb100d]

Did not see this coming, definitely going to help get the wrinkles out of grin.

To those people commenting on the emission rate of grin, please check out the project's monetary policy document:

https://github.com/mimblewimble/docs/wiki/Monetary-Policy

If you really start thinking about it, it's an incredibly valuable experiment.

My 2ᵹ.

[LennySands]

By default they want you to essentially pay to IP addresses. This was stupid when Satoshi tried it 10 years ago, and it's stupid now. At the very least you should strongly encourage (ie. nearly force) people to give out public keys along with their IPs, since otherwise MITM attacks are trivial. Even then it sucks to require the recipient to run an open-to-the-Internet server at all. And for goodness' sake, don't use the broken/centralized HTTPS system; the Bitcoin Core devs have been going to a lot of trouble trying to remove that garbage from Core.

Grin also supports keybase for the slate exchange which solves both the key distribution problem and the authentication problem.

https://github.com/mimblewimble/docs/wiki/Wallet-User-Guide#keybase

[Last of the V8s]

keybase is a joke for security though

[antanst]

Can GRIN do this? Can GRIN compete with VISA and remain decentralized and immutable with a fixed supply and no trust in 3rd parties?

s/fixed supply/predictable supply/

Yes, that combined with its privacy is what makes it so exciting. You can probably achieve even greater scaling with BTC+LN, and I consider that quite likely to be what the economy actually goes toward, but grin is a very different and interesting alternative approach.

If I'm not mistaken, Grin has a 100 byte kernel baggage for each transaction that stays forever. So it might be more scalable than Bitcoin (an impressive feat considering that it adds a level of privacy as well), but still not Visa-level scalable. I'm not sure how it can be compared to LN's much better scaling.