Grin Observer - GRN/BTC - Price Movement and Discussion

[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?

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.

Cost factors arent constant.

You got different electricity costs, rent, wages etc in different locations.

Miners who arent profitable will shut down and make it more profitable for other miners.

[yefi]

45BTC "wall" on Poloniex @ 67330 sats. Cute.

[Globb0]

As long as there is some market for the thing that logic holds true

[RivAngE]

45BTC "wall" on Poloniex @ 67330 sats. Cute.

Not sure if that "wall" you're talking about is a "ceiling" or a floor!
I'm trading in Bittrex and that price is slightly higher than where the market price is right now, so I guess it's a "ceiling" huh?

[yefi]

Not sure if that "wall" you're talking about is a "ceiling" or a floor!
I'm trading in Bittrex and that price is slightly higher than where the market price is right now, so I guess it's a "ceiling" huh?

It was a bid wall, so a "floor". He seems to have pulled it now.

[Cryptotourist]

New ATL. Great!

I can't get no, da da daaa, satisfaction, da da daaa.

[bitcoinPsycho]

I will buy at 1 satoshi

[consideritdone]

tumbling...  https://www.coingecko.com/en/coins/grin

[yuzuak]

grin out swap in

[Cryptotourist]

It's truly depressing looking at Grin charts.
Every time I'm like - hey it went down there, surely it's going to bounce off now. Not.

From a positive angle, surely we must be looking at a crazy ride up sooner or later. It can't just go down for ever.

[kabit9]

is there a good reason why one of the 'most promising' projects is taking such a beating?

[RivAngE]

is there a good reason why one of the 'most promising' projects is taking such a beating?

This has been asked a dozen times, though I understand it that you can't scroll through the many pages to find it posted here and there.
It's mainly because in the early period the inflation looks a bit too high and the price can't be sustained without broad enough acceptance. Now we have many coins in circulation and since the coins was too profitable for mining initially, most miners dumped without second though.

Now we have a down momentum but it should stabilise any moment now.

[bbc.reporter]

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)

Can you explain this further? Where did you get 8/3 and 4/3? Also, 1/3 marketcap of bitcoin and grin is still in $1.33 - $2.67? I assume you already accounted for the coins mined, however what if bitcoin goes on a new all time high and this pumps grin with miners refusing to sell?

I reckon we might witness grin reach the top 10 and fall back within the top 50 within 10 years.

[tranthidung]

New ATL. Great!

The perfect scenario for me is Grin coin falls to $1.
If the coin really fall to $1, I will buy it immediatly without any level of hesitation.
I have tried to prepare as much available capital as possible for that day.
It's my plan for the Grin coin accumulation and thank @theymos for warned that the Grin coin price will drop over time.

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.

[kabit9]

is there a good reason why one of the 'most promising' projects is taking such a beating?

This has been asked a dozen times, though I understand it that you can't scroll through the many pages to find it posted here and there.
It's mainly because in the early period the inflation looks a bit too high and the price can't be sustained without broad enough acceptance. Now we have many coins in circulation and since the coins was too profitable for mining initially, most miners dumped without second though.

Now we have a down momentum but it should stabilise any moment now.

Thank you very much Sir for a polite and clear answer (a rarity on the forum these days).

[yefi]

Looking good, at least for the short term.

[Dragonrage201]

Grin price seems to have bottomed in the low $2s and now bouncing  back. Do not know if it will fall into $1s in future or not.

[Cryptotourist]

Hopefully it's swimming with the whales time.



Need to see it break through 0.0010 to be convinced.

[bbc.reporter]

@Cryptotourist. Agreed, hopefully hehehe. However, I am ready to dump some on this pump to recover some losses and buy back again when it dumps.

I reckon the possibility of a sub $1.00 grin will always be there for the first 10 years.

[Cryptotourist]

10 years is literally a life time for crypto.
Instead I'm interested in the first year or two of a coin, more specifically trying to buy it's dips.
My position on Grin is that the current ATL (~0.00055 BTC per Grin) & whereabouts is/was a pretty good entry point.

As stated before, I do not agree with sub dollar or half dollar bottom predictions.
It's like thinking that BTC will drop to $2k or less - which I don't.
I don't even see dollars when dealing with alt coins - all I see is compared to BTC.