Grin Observer - GRN/BTC - Price Movement and Discussion

[bbc.reporter]

@RivAnge. I reckon higher costs would give miners more reasons to dump. Miners are also not idealistic people, they are businessmen hehehe.

@amruleshare. I am not certain if this is the situation up until now. However, I reckon it might also be because Bittrex and Poloniex's wallets are disabled for withdrawals.

isn't that  better for the price will look stable because most of the new coins by mine are still in the miner's personal wallet, I also do not believe the hotbit exchange has a significant $grin in their wallet, This is nonsense ! Kucoin $Grin Available

It will not make a difference, I reckon. If the miners need to dump what they mine to pay for their bills, they will dump.

Also, Bittrex already has grin deposits and withdrawals available.

[mindrust]

$2.82.

So road to sub $1 has begun.

Good news is, it will be a life time opportunity to get rich when it does.

[bbc.reporter]

@mindrust. In all of the predictions I have read on grin, I agree the most with theymos' advice and I trust his experience because of all of his years in the cryptospace.

He speculates that grin might see a low of $0.50.

[Hueristic]

When Moon?

[Texacha]

[Globb0]

Waiting for the masters to give me a nudge here

 

[RivAngE]

I would never expect me to say this but... "When ASICs?"

My train of though is that, since ASICs are usually expensive and have a long ROI, whoever buys them is expecting the coin to have a great future, no one would invest in an expensive ASIC expecting to mine a coin for the 2-3 months of its hype time.
So if people believe in the coin, then they won't dump their mined coins.

This is why I believe that the introduction of ASICs will reduce the dumping by 30%-40%.

[Febo]

I feel like the price will recover when ASICs join the network.
Ofcourse it's only a wild guess, but I suppose that whoever invests in a (probably) costly ASIC will have a long-term belief in GRIN, therefore they'll hold at least some amount of what they mine.

Hopefully whatever miner is released will be efficient enough in order to not waste much energy, both because of the environment and because we don't want GRIN to be sold for fiat to pay the electricity bills.

Price will not recover if there are more and more coins coming out daily. There is 5 millions now and in 2 months time there will be 6 millions more.  No matter how they will get mined, there will be 5 millions more. At current price that is $10 millions.

[Hueristic]

I would never expect me to say this but... "When ASICs?"

My train of though is that, since ASICs are usually expensive and have a long ROI, whoever buys them is expecting the coin to have a great future, no one would invest in an expensive ASIC expecting to mine a coin for the 2-3 months of its hype time.
So if people believe in the coin, then they won't dump their mined coins.

This is why I believe that the introduction of ASICs will reduce the dumping by 30%-40%.

that will just make it tank quicker and to a lower level but would make the rebound closer than a few years so bring them on, I'll buy this shit at bargain basement prices in 6 months if ASICs an Hybrid FPGAs start slamming it.

[Febo]

I would never expect me to say this but... "When ASICs?"

My train of though is that, since ASICs are usually expensive and have a long ROI, whoever buys them is expecting the coin to have a great future, no one would invest in an expensive ASIC expecting to mine a coin for the 2-3 months of its hype time.
So if people believe in the coin, then they won't dump their mined coins.

This is why I believe that the introduction of ASICs will reduce the dumping by 30%-40%.

But the one that will build ASIC will not sell them but mine with them by itself and with that push all GPU miners out since will spend way less electricity.  Have you thought of this also?

[Cryptotourist]

As far as I'm aware we didn't get a new ATL. Very close to it but not quite.

[holden.commodore]

Oh come on what is the point to have an awesome protocol but the coin itself is very hard for ordinary people to use, the wallet install and use is a challenge even for IT professionals.
Maybe in the future developers change that but by now any suddenly price increase will be just speculation.

[bbc.reporter]

As far as I'm aware we didn't get a new ATL. Very close to it but not quite.

Do not be worried, it will make it and keep making it a few more times within the next 5 to 10 years hehehe.

@holden.commordore. That is not the reason. Read more about Grin's monetary policy before assuming something.

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

The development team is clearly giving more importance on coin distribution than market capitalization.

[HairyMaclairy]

Prior ATL is around 0.0053.  And the chart is not pretty at the moment.  I predict we will go under the ATL quite easily.  

[consideritdone]

hype has ended now at $2 https://www.coingecko.com/en/coins/grin

[Globb0]

Is there a danger level where it goes too low to make asics worth bothering to develop? or is the asic plan just to use existing supported devices?

[criptix]

Is there a danger level where it goes too low to make asics worth bothering to develop? or is the asic plan just to use existing supported devices?

Last thing i read was that all the 10k vouchers for the obelisk are sold out.

Grin devs will even get a donation of 1 million $.

So i doubt there will be a problem in this regard.

Specs are 150 gps at 800 watt...

[Globb0]

[smartcomet]

United States 10-Year Bond Yield is between 1.5-3% in recent years, so when Grin in this range inflation, it is in 34 years and 67 years.
Let’s give Grin 1/3 market cap of Bitcoin, today BTC price is $4000.

Year #   Yearly monetary inflation rate    price $
34          3%                                     8/3=2.67
67          1.5%                                            4/3=1.33

So Grin price is reasonable in $1.33 --- $2.67
(now price is $2.62)

[RivAngE]

Is there a danger level where it goes too low to make asics worth bothering to develop? or is the asic plan just to use existing supported devices?

In 2019 I don't believe there's need for extensive R&D before a company like Obelisk can produce an ASIC.
Therefore the only cost we need to take into account is the production cost.
ASICs are largely affected by diminishing returns. What that means is that the more ASICs that are being put in use the lower their value gets (since the static block reward is split among more miners).

So if GRIN's price gets too low, all that needs to happen is for the manufacturer to produce only a certain amount of miners so that their users' ROI is a logical one.
Too many miners and they'll lose their customers' trust while their miners will keep being sold for lower and lower margins.