Grin Observer - GRN/BTC - Price Movement and Discussion

[Hueristic]

From my experience with Hotbit: stick a buy order one sat below the sell and suddenly all the trading dries up and you can hear the crickets...

Personally I set up my buy orders lower than big Buy walls. Most of time, my orders will be filled up all because coins usually drop below price below Big Sell Walls. I don't use Hotbit exchange, but I believe that it is basic and common characteristic on all exchanges, not only on the Hotbit. Breaking Buy walls and fall deeper, or breaking Sell Walls and rise higher. For Grincoin, its low price now is perfect one to hop on and wait till the coin starting to rise, weeks later. Bitcoin rises recent days gave us perfect opportunities to buy very cheap altcoins, including Grincoin.

Bolded is good advice, not sure about the rest.

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[yefi]

To be clear, what I wished to point out was the fake volume on Hotbit. 95%+ of the orders appear between the spread. Close it up, and abracadabra, these mercurial orders disappear.

[Hueristic]

To be clear, what I wished to point out was the fake volume on Hotbit. 95%+ of the orders appear between the spread. Close it up, and abracadabra, these mercurial orders disappear.

2true, I don't think anyone misunderstood that.
 I checked it out when they listed Monero and said "fuck no"!

[Febo]

@Febo. No, not if bitcoin was $20k. I ask in the present circumstances. Bitcoin holds its value better than grin so it is more sensible for the miners to dump grin and hold everything in bitcoin after expenses.

Is someone trying to tell the cryptospace that grin is what bitcoin should be hehehe.

Right now Grin cant be neither $0.5 or $10.  Tomorrow Bitcoin might be $20k.    But yes I agree with you that Grin is closer to $0.5 then $10 right now.

[HairyMaclairy]

This way they get rid of the biggest fake volumes that comes from most exchanges, for example Hotbit reports 11,749,655€ 24h volume on GRIN which is then summed by Coingeko! I haven't used Hotbit, but that GRIN volume guarantees a note to myself to never ever try them.

From my experience with Hotbit: stick a buy order one sat below the sell and suddenly all the trading dries up and you can hear the crickets...

Haha that’s clever

[bbc.reporter]

Bitcoin holds its value better than grin so it is more sensible for the miners to dump grin and hold everything in bitcoin after expenses.

It happens with not only Grincoin, but also with other altcoins, so that is why when bitcoin moved up to above $6000, altcoins turned into Red. There are less investors whom want to own and hold their altcoins at the moment. Because they tend to be greedy and want to join and enjoy the ride of bitcoin. They likely bought bitcoin recent days and hope that Bitcoin will keep increasing to around $10000. Haha. Personally, after cashing out my bitcoin, I still keep accumulating cheap altcoins recent days.

Agreed. However this does not make grin a better investment than other altcoins. This is a common mistake made by bagholders. We look for excuses for our bad decisions by saying that it is ok because of reason x or reason y.

[tranthidung]

However this does not make grin a better investment than other altcoins. This is a common mistake made by bagholders. We look for excuses for our bad decisions by saying that it is ok because of reason x or reason y.

Sure, when you fall in love with one altcoin, you should not compare it with other altcoins. Even it is better or worse than other altcoins, you will still love it. It is same as what we ususally do with our wives or husbands, do you agree with this point? Personally, I fall in love with one altcoin because I see one or several promising usages of the coin that in turn can help the coin has good growths and widely acceptance in its later phases.

[HairyMaclairy]

28k sats and all is well...

[wheelz1200]

28k sats and all is well...

Man that's a depressing chart I'm having a hard time analyzing whether or not with the infinite coin generation if that will end up hurting or suppressing prices.  If you want to buy grin you can always wait until tomorrow when its lower.  I know most coins are in the reward phase and new coins get generated daily but the end is known not so with grin.  Love the coin just dont know if I want to go in on it 

[Globb0]

geco coin seemed to show dropping volume

[tranthidung]

28k sats and all is well...

Once again, theymos is not dumb because he wrote months ago when everyone FOMOed with Grincoin that the price of Grincoin will decrease at least over first one year due to its inflation scheme. Now, we have proofs that theymos prediction is right. Personally, I think that it is time to relax, and forget about Grincoin, even when you bought it around 35k satoshis, because Grincoin will recover and surpass the range around 35k satoshis later. The coin has fallen into its bottom range, so it's not time to be panic. When bitcoin fell to #3700, someone said it would drop deeper, even to zero, so what actually happened?

[bbc.reporter]

28k sats and all is well...

Man that's a depressing chart I'm having a hard time analyzing whether or not with the infinite coin generation if that will end up hurting or suppressing prices.  If you want to buy grin you can always wait until tomorrow when its lower.  I know most coins are in the reward phase and new coins get generated daily but the end is known not so with grin.  Love the coin just dont know if I want to go in on it 

In the beginning the more than 10% of supply inflation in the next 10 years might surpress the price, however, in theory the surpressed prices might not be that bad. It might cause the price to be more stable, in theory.

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

[BitBustah]

The price drop in satoshis was completely expected.  Anyone that didn't think this would happen was delusional.  Its basic math, doesn't take a genius to figure out.  24h trading volume is nowhere near $20million either, coinmarketcap is a fraudulent site promoting fake volume numbers.

I would be interested in knowing what percentage of people paid for copper memberships with grin since that became an option.

[bbc.reporter]

@BitBustah. I reckon not very high. I would speculate that it is less than 100 copper memberships paid for in grin hehehe. It would be easier to pay for it in the cryptocoin they already hold.

[suchmoon]

@BitBustah. I reckon not very high. I would speculate that it is less than 100 copper memberships paid for in grin hehehe. It would be easier to pay for it in the cryptocoin they already hold.

I can't find the post now but I think theymos mentioned that it was 5 in 2 months. It's been ~4 months now so perhaps it's up to 10 . I was considering paying with grin for my bot account but it was just too much hassle to bring up my semi-cold wallet... ended up paying with BTC.

Edit - here it is:

Since grin started being accepted, 5 out of 687 payments (0.7%) were via grin.

[theymos]

I can't find the post now but I think theymos mentioned that it was 5 in 2 months. It's been ~4 months now so perhaps it's up to 10 . I was considering paying with grin for my bot account but it was just too much hassle to bring up my semi-cold wallet... ended up paying with BTC.

It was just an initial burst, there's only been one more since then. 6 out of 1166 total payments.

Someone just today reported to me that they were unable to send an amount with grin's 9-digit precision. It sounds like whatever wallet they were using only supported 8-digit precision. They haven't yet responded to my question as to which wallet it was. If it's a very popular wallet, maybe this has impacted people's ability to pay via grin.


I still think grin has value to lose since it's so inflationary. In early 2020, inflation will settle down a bit and apparently a GUI will be released, so that's a good guess at an inflection point. But inflation will still be a huge influence for a long time, so I'm not really expecting it to explosively "moon". For example, I think it'll take years to reach $20 again, assuming it survives long enough to do so.

[criptix]

I can't find the post now but I think theymos mentioned that it was 5 in 2 months. It's been ~4 months now so perhaps it's up to 10 . I was considering paying with grin for my bot account but it was just too much hassle to bring up my semi-cold wallet... ended up paying with BTC.

It was just an initial burst, there's only been one more since then. 6 out of 1166 total payments.

Someone just today reported to me that they were unable to send an amount with grin's 9-digit precision. It sounds like whatever wallet they were using only supported 8-digit precision. They haven't yet responded to my question as to which wallet it was. If it's a very popular wallet, maybe this has impacted people's ability to pay via grin.


I still think grin has value to lose since it's so inflationary. In early 2020, inflation will settle down a bit and apparently a GUI will be released, so that's a good guess at an inflection point. But inflation will still be a huge influence for a long time, so I'm not really expecting it to explosively "moon". For example, I think it'll take years to reach $20 again, assuming it survives long enough to do so.

A bit OT, but did you donated the 50 btc? 

[theymos]

A bit OT, but did you donated the 50 btc? 

No, that wasn't me.

[wheelz1200]

I can't find the post now but I think theymos mentioned that it was 5 in 2 months. It's been ~4 months now so perhaps it's up to 10 . I was considering paying with grin for my bot account but it was just too much hassle to bring up my semi-cold wallet... ended up paying with BTC.

It was just an initial burst, there's only been one more since then. 6 out of 1166 total payments.

Someone just today reported to me that they were unable to send an amount with grin's 9-digit precision. It sounds like whatever wallet they were using only supported 8-digit precision. They haven't yet responded to my question as to which wallet it was. If it's a very popular wallet, maybe this has impacted people's ability to pay via grin.


I still think grin has value to lose since it's so inflationary. In early 2020, inflation will settle down a bit and apparently a GUI will be released, so that's a good guess at an inflection point. But inflation will still be a huge influence for a long time, so I'm not really expecting it to explosively "moon". For example, I think it'll take years to reach $20 again, assuming it survives long enough to do so.

Probably just for the novelty of paying in grin for those 6 people lol.  Love the technology but I am with I think it still has much more value to "lose" still.  That is an issue if most think as well, the miners will keep dumping at a lower price with little incentive for people to buy.  Will definately be watching the market as it progresses as a study in this type of coin distro. 

Are you planning on indefinitely keeping grin as a payment or is it just sort of a test phase for you accepting it?

[tranthidung]

That is an issue if most think as well, the miners will keep dumping at a lower price with little incentive for people to buy.  Will definately be watching the market as it progresses as a study in this type of coin distro. 

Miners will keep to dump their Grin coin at prices that still bring profits for their mining after subtracting electricity cost. Therefore, we have to wait till the price at which miners get very little profits from their mining if they sell their coins at such low price. After that price range, miners will stop dumping their coins, and Grin coin will rally definitely. Waiting patiently is key for now if you have big interests in Grin coin.