Grin Observer - GRN/BTC - Price Movement and Discussion

[Hueristic]

@Febo. That is what litecoin is doing. Copy updates from bitcoin and other cryptocoin projects, hype those updates for the periodic pump and dump hehehe. This is a type of weakness in cryptocoins with a limited supply. It might take years before we can accept this.

This update will for the first time be very different update from Bitcoin. So it will be interested also from that point to see how much people will like it. Maybe will totally ignore it, since for them LTC is just second Bitcoin.

LTC has one usecase, to move funds between exchanges. And thats only if you don't mind being tracked. MW protocol won't change that.

[bbc.reporter]

@Febo. That is what litecoin is doing. Copy updates from bitcoin and other cryptocoin projects, hype those updates for the periodic pump and dump hehehe. This is a type of weakness in cryptocoins with a limited supply. It might take years before we can accept this.

This update will for the first time be very different update from Bitcoin. So it will be interested also from that point to see how much people will like it. Maybe will totally ignore it, since for them LTC is just second Bitcoin.

To be frank with you, I have lost belief in litecoin when Charlie Lee dumped on his community at the very top of litecoin's all time highs. This upgrade might only be another excuse to hype, pump then dump.

[bbc.reporter]

To spread awareness and inform the ill-informed people lately like me on Grin development and news updates.

The hoarding of bitcoin by institutional investors might be the perfect occassion for everyone to learn why fungibility and Grin's monetary policy might be the solution to mainstream adoption for decentralized peer to peer payments.


tl;dr

Node has been patched to 4.1.1.
@lehnberg funding request approved.
Two wallet RFCs by @tromp



Grin v4.1.1 has been released, fixing a small bug.


Dev

There are 92 open issues in /grin, and 48 open issues in /grin-wallet.
Merged PRs: 8 in /grin | 2 in /grin-wallet | 4 unique contributors
Weekly update from @jaspervdm.
Call for ideas on how to improve the naming of transaction rounds.
New RFC proposals by @tromp:

Early payment proofs, generating and validating payment proofs for all transactions, including a timestamp and memo field;
Safe cancel, allowing for safe cancellation of pending transactions, preventing future so-called play attacks.
The next bi-weekly development meeting is scheduled for Tue Oct 13 @ 15:00 UTC in grincoin#general on Keybase. You can add topics to the agenda.


Governance

Simplify governance proposal will be merged on Oct 13 unless there are significant objections.
Last governance meeting approved @lehnberg funding request, tabled @WarmBeer QA funding request, discussed deprecating http(s), state of floonet, and did some RFC reviews.
The next bi-weekly governance meeting is scheduled for Tue Oct 20 @ 15:00 UTC in grincoin#general on Keybase. You can add topics to the agenda.
RFCs

Draft

Parallel IBD p2p messages [node-dev]
Wallet rules for (re)play protection [wallet-dev]
Eliminating finalize step [wallet-dev]
Parallel IBD [node-dev]
NEW! Early payment proofs [wallet-dev]
NEW! Safe cancel [wallet-dev]
Open

Change Difficulty Adjustment Algorithm [node-dev]
QA Team [core]
Deprecate HTTP(S) Transactions [wallet-dev]
Final Comment Period

fix-fees [node-dev], with disposition to merge by October 22 (extended).
simplify-governance [core], with disposition to merge by October 13.

Source https://grinnews.substack.com/p/118-grin-411-released

[Febo]

@Febo. That is what litecoin is doing. Copy updates from bitcoin and other cryptocoin projects, hype those updates for the periodic pump and dump hehehe. This is a type of weakness in cryptocoins with a limited supply. It might take years before we can accept this.

This update will for the first time be very different update from Bitcoin. So it will be interested also from that point to see how much people will like it. Maybe will totally ignore it, since for them LTC is just second Bitcoin.

To be frank with you, I have lost belief in litecoin when Charlie Lee dumped on his community at the very top of litecoin's all time highs. This upgrade might only be another excuse to hype, pump then dump.

I dont believe he was telling truth. He never sold anything. He was just sick and tired of people accusing him he is pumping LTC to get rich. So he simply said. I sold, and from that moment on he thought will be free. But then opposite accusations come. The ones why you dont like him.


And yes. Opaque ledger matter. No one likes that whenever you move even part of your wealth to all media talks about it. Why would Queen of England want that?

[Febo]

We are not there yet but price is getting close to 1000 sat. Is this good price to set buy orders, Or do you guys expect price to go below that?  How low can it go?

[mindrust]

We are not there yet but price is getting close to 1000 sat. Is this good price to set buy orders, Or do you guys expect price to go below that?  How low can it go?

What makes you think it'll stop at 1k sats? It could very well go to 100 sats and beyond from there. This coin needs a miracle, some big news to save itself from dying. Zero adoption, zero promotion... there is only tech which can be copied and already copied by other projects like BEAM (or was it BEAN? whatever)

[bbc.reporter]

@Febo. Clearly lower. Miners are on a permanent dump and supply to issuance ratio as at high percentage. The project also has not gained traction among cryptocoin services yet.


Grin updates.

https://grinnews.substack.com/p/119-v500-scope-freeze-

https://grinnews.substack.com/p/120-keep-on-keeping-on-

[Febo]

I am not sure of any price. All I am sure is that at some point bottom will be found. At some point  price will be so low that none beside miners will sell and also so ow that what miners sell will be sod fast. For a year or more I had 1000 sat in mind. 100 sat seems very low to me. Once Bitcoin reach 20k and new people start flocking in crypto,  alt coins will start pump. We are not there yet. But I doubt that will not happen in a year time. Probably much earlier.  That will for sure have an impact on this constant Grin drop in price.

[smartcomet]

Can’t see any support at 0.25$. There is some chance the price will go down to 0.1$ when BTC reaches ATH next year.
If so, the bottom price will be 0.1/25 000 = 400 sat

[bbc.reporter]

I am not sure of any price. All I am sure is that at some point bottom will be found. At some point  price will be so low that none beside miners will sell and also so ow that what miners sell will be sod fast. For a year or more I had 1000 sat in mind. 100 sat seems very low to me. Once Bitcoin reach 20k and new people start flocking in crypto,  alt coins will start pump. We are not there yet. But I doubt that will not happen in a year time. Probably much earlier.  That will for sure have an impact on this constant Grin drop in price.

Agreed. There might be bitcoin whales who might be beginning to think of their exit from a blockchain where all the transactions are visible hehe. I reckon Monero might be the biggest receiver of this and I also hope our Aeon hehehe!

Read this. How can this whale hide all his coins from the government?



69,369 bitcoins, worth approximately $955 million, just moved out of wallet address 1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx, the fourth-largest bitcoin wallet according to BitInfoCharts.

Source https://www.theblockcrypto.com/linked/83531/fourth-largest-bitcoin-wallet-moves-1-billion-bitcoins

[Febo]

Any news about this?

Grin Network Is Under the 51% Attack!
Payouts are stopped. Please mine at your own risk only because the new blocks could be rejected.


https://twitter.com/pool2miners/status/1325277809183510529

[B1tUnl0ck3r]

you still believe in this crap? 

[bbc.reporter]

Any news about this?

Grin Network Is Under the 51% Attack!
Payouts are stopped. Please mine at your own risk only because the new blocks could be rejected.


https://twitter.com/pool2miners/status/1325277809183510529

This is the risk of cryptocoins that utilizes proof of work. If it cannot accumulate high value then it cannot accumulate a high hashrate. It will be Nicehashable.

Bitcoin was very lucky no one knew what it really was in the beginning hehe. I reckon the government would have attacked it repeatedly.

[mindrust]

Wtf is wrong with this piece of shit? If it won't pump now then when?

 

Theymos make grin great again.

[bitcoinPsycho]

Wtf is wrong with this piece of shit? If it won't pump now then when?

 

Theymos make grin great again.

Bitcoin is where its at don't you know?

[mindrust]

Wtf is wrong with this piece of shit? If it won't pump now then when?

 

Theymos make grin great again.

Bitcoin is where its at don't you know?

Yeah it is doing great but I am wondering... why alts don't follow... Even ltc kinda follows btc even though not as strong but grin is either still dumping or staying same.

[bitcoinPsycho]

Wtf is wrong with this piece of shit? If it won't pump now then when?

 

Theymos make grin great again.

Bitcoin is where its at don't you know?

Yeah it is doing great but I am wondering... why alts don't follow... Even ltc kinda follows btc even though not as strong but grin is either still dumping or staying same.

I guess  people dump there alts for the most secure blockchain BTC . Makes sense to me

[mindrust]

I guess  people dump there alts for the most secure blockchain BTC . Makes sense to me

I don't think "people" are behind this pump but to each his own.

[bitcoinPsycho]

I guess  people dump there alts for the most secure blockchain BTC . Makes sense to me

I don't think "people" are behind this pump but to each his own.

Only the clever ones     (dump alts for btc)

[mindrust]

I guess  people dump there alts for the most secure blockchain BTC . Makes sense to me

I don't think "people" are behind this pump but to each his own.

Only the clever ones 

Let's see if they are clever enough to hit my sell target price. I hope they are.