Grin Observer - GRN/BTC - Price Movement and Discussion

[tranthidung]

Possible entry point based on volume spike.  I am not going to enter because I am not feeling the vibe - but at an intellectual level there is a chance that this is a bottoming event.

It would be more convincing if the volume spike was double all previous volume.

Nice! Personally, I don't step in Grincoin at its temporary price. As the price chart shows, Grincoin dropped to below the double bottom point, so I think price will keep falling. I will consider to buy Grin coin when it falls around half of its current price. Maybe someone will tease me that I over expect extremely cheap price, but I have my own approach with patience play key role. If I miss cheap price of Grincoin, higher than what I expect, and I won't buy Grincoin, I won't lose anything. There are lots of other good coins with good or better entry points, hence there is no reason to feel so bad.

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[Hueristic]

Right. Convinced of what?
I'm definitely convinced that you like to repeatedly remind us about Grin's monetary policy.
In case you haven't noticed all alts are bleeding.

I'll jump eat my balls off, if we see $0.5 Grin, how about that?

I like reminding everyone because no one has acknowledged the fact that longterm grin holders' coins will be diluted by infinite emission. Everyone appears to be blaming the bear market and avoids asking what the infinite supply and the 5 years of high inflation effect will be.

Lets not be frightened by the word "Infinite" here, there is nothing wrong with a minor tail emission (infinite supply) if it is small enough to be offset by expected coin losses as it provides for infinite security.

The only concern is the continual pressure during the maturing period that the emission schedule brings and that was known long before launch so there should be no complaints about it and it is not considered FUD by taking that into account when deciding when and/or whether to become a holder for speculations sake.

[mindrust]

Right. Convinced of what?
I'm definitely convinced that you like to repeatedly remind us about Grin's monetary policy.
In case you haven't noticed all alts are bleeding.

I'll jump eat my balls off, if we see $0.5 Grin, how about that?

I like reminding everyone because no one has acknowledged the fact that longterm grin holders' coins will be diluted by infinite emission. Everyone appears to be blaming the bear market and avoids asking what the infinite supply and the 5 years of high inflation effect will be.

Lets not be frightened by the word "Infinite" here, there is nothing wrong with a minor tail emission (infinite supply) if it is small enough to be offset by expected coin losses as it provides for infinite security.

The only concern is the continual pressure during the maturing period that the emission schedule brings and that was known long before launch so there should be no complaints about it and it is not considered FUD by taking that into account when deciding when and/or whether to become a holder for speculations sake.

Those GRINs per second will pile up and up and up and up. There won't be an end to those newly minted coins. GRINs looks more like Dogecoin with privacy to me.

It makes sense to some people but I am not sure.

And why is that 1 GRIN per second? The markets should absorb 86400 GRINs everyday, forever.

I don't see this any different than the current FIAT system. Once you bend the monetary rules, you can always bend them some more. (That's exactly what's happening since they left the gold standard)

The limited supply idea makes more sense to me If you want a reliable store of value coin. Everything on earth is limited. The food, the energy, the water, everything. The money you use also should be limited so it automatically punishes those who make more babies than they could afford.

But as I see, It is not going to happen. People are already addicted to inflation, the place is already overcrowded and they won't be letting that shit go.

[HairyMaclairy]

Ok if it was going to bounce off that volume spike, it would have bounced by now.  It’s taking too long to go up.  

Down we go.    0.00019130 at the moment

[Hueristic]

...

The limited supply idea makes more sense to me If you want a reliable store of value coin. Everything on earth is limited. The food, the energy, the water, everything. The money you use also should be limited so it automatically punishes those who make more babies than they could afford.

Albert Einstein disagrees.

[Febo]

I don't see this any different than the current FIAT system. Once you bend the monetary rules, you can always bend them some more. (That's exactly what's happening since they left the gold standard)

I see the difference. In last 10 years n average M1 https://tradingeconomics.com/united-states/money-supply-m1 what is cash and money on bank accounts, (so forget fractional banking) increased 10% a year. In USA in EU in China. 10% is way more then 1.5% that Gold have. Grin will be there in 10 years time.  What is perfect emission it is up for a debate. And totally all are an experiment. What we for sure know there are plenty crypto currencies at the low end so I am very welcoming at least one to not be so low. And yes be like USD for first 10 years and become Gold only after 70 years.


What I keep posting is this. Coins that are bringing something new on a cryto table. Something that Bitcoin will not have 10 years from now will be used and will succeed. All of them. Those that just copy Bitcoin and pimp it up with some make up will be just collectibles and is totally logical Bitcoin will have 99.9999% of their marketcap.

[bbc.reporter]

@Hueristic. I am not afraid of infinite. It is a fix on bitcoin's moon math and it will stop any advantages for early investors.

@mindtrust. You need to read Grin's monetary policy to understand. Its emission will be similar to bitcoin's emission of today after 10 years.

[Hueristic]

@Hueristic. I am not afraid of infinite. It is a fix on bitcoin's moon math and it will stop any advantages for early investors.

@mindtrust. You need to read Grin's monetary policy to understand. Its emission will be similar to bitcoin's emission of today after 10 years.

i didn't mean to direct that at you and just was making a generalized statement.

BTW IOU +sM for that post.

The longer I read this thread the more I become convinced that people do not know what the words "By Design" mean and definitely do not DYOR and finally do not listen to those that do.

[mindrust]

I understand the concept, I get it there will be lost coins because people die and their coins die with them so we don't want to end up with dry supply after 10 years?

But bitcoin will be having block rewards till the year 2140... I mean the supply won't dry off at all at least in the next 100-120 years.

What grin does is, taking it a bit further by removing the supply cap and let the inflation go forever.

But... if you think the block rewards from mining bitcoin wont be enough for the world population in 2100, how do you know if 1 grin per second will be enough?

I am not really supporting this idea tbh but I'll be getting some grins anyway. This is all experimental stuff in the end.

[Febo]

I understand the concept, I get it there will be lost coins because people die and their coins die with them so we don't want to end up with dry supply after 10 years?

But bitcoin will be having block rewards till the year 2140... I mean the supply won't dry off at all at least in the next 100-120 years.

What grin does is, taking it a bit further by removing the supply cap and let the inflation go forever.

But... if you think the block rewards from mining bitcoin wont be enough for the world population in 2100, how do you know if 1 grin per second will be enough?

Bitcoin will have very limited emission after 2040. Like 160000 BTC left to mine for next 100 years.  We mine that now in three months.
Everything that is around Gold mining emission is fine long term. Grin will have it over that in next 50 years so I am not worried to not be enough.

[kabit9]

So what is the general consensus on GRIN?  Under $2 right now.... maybe a buying opportunity?  Hodl or fodl?

[mindrust]

I understand the concept, I get it there will be lost coins because people die and their coins die with them so we don't want to end up with dry supply after 10 years?

But bitcoin will be having block rewards till the year 2140... I mean the supply won't dry off at all at least in the next 100-120 years.

What grin does is, taking it a bit further by removing the supply cap and let the inflation go forever.

But... if you think the block rewards from mining bitcoin wont be enough for the world population in 2100, how do you know if 1 grin per second will be enough?

Bitcoin will have very limited emission after 2040. Like 160000 BTC left to mine for next 100 years.  We mine that now in three months.
Everything that is around Gold mining emission is fine long term. Grin will have it over that in next 50 years so I am not worried to not be enough.

Worrying is subjective.

The truth is, you don't know. Maybe I am not worried about the remaining 160k btc for being little. Bitcoin is divisible in the end.

What I do know is however, that in 2140, there won't be anymore BTC other than the 21million coins which will be mined. (in reality it won't be more than 15-16 million coins btw, because of the lost coins) I also know, in2140, Grin's total supply will be more than 3.000.000.000.000. (x142k of bitcoin)
Source

People say Grin's inflation will be like gold after a few years.

I see this as, people can't really decide if the inflation is good or bad. They should decide what they want first. Do they want inflation, or deflation? Do they want store of value, or FIAT-like currency, like Doge?

If they want deflation, Bitcoin gives you that. Much more than Grin does and it will be 142k times more by the year 2140.

[Hueristic]

So what is the general consensus on GRIN?  Under $2 right now.... maybe a buying opportunity?  Hodl or fodl?

[Febo]

Worrying is subjective.

The truth is, you don't know.

Exactly! We have no ideas how will this play 20 years from now. Considering that would be super dumb to have only Bitcoin and not having alternatives. To 20 years from now say: "Oh I wish I knew this back then."

[kabit9]

So what is the general consensus on GRIN?  Under $2 right now.... maybe a buying opportunity?  Hodl or fodl?

 

been hodling for a while now, thinking whether I should add to my holdings.  didn't cash out at $5 

[HairyMaclairy]

From a TA perspective the chart looks like a diseased dick.  We are clinging onto the bottom of the attempted consolidation by our fingernails.  I sodl a long time ago and would not re-enter now, at least not without some clear signal which is totally missing.  This is what high inflation looks like - a grind into the abyss. 

Looking for us to plunge further in BTC terms.

[bbc.reporter]

@HairyMaclairy. In your opinion, will grin diseased dick itself to $0.50? What is your crystal ball showing you hehehe?

@Febo. 20 years, grin's inflation will be lower than 3%. The price will depend on adoption.

[HairyMaclairy]

The air seemed still and tense about him. At first the globe was dark, black as jet, with the moonlight gleaming on its surface. Then there came a faint glow and stir in the heart of it, and it held his eyes, so that now he could not look away. Soon all the inside seemed on fire; the ball was spinning, or the lights within were revolving. Suddenly the lights went out. He gave a gasp and struggled; but he remained bent, clasping the ball with both hands. Closer and closer he bent, and then became rigid; his lips moved soundlessly for a while. Then with a strangled cry he fell back and lay still.

[Febo]

@Febo. 20 years, grin's inflation will be lower than 3%. The price will depend on adoption.

Price always depend on adoption. Adoption is part of a demand and demand pushes price up. Supply are the coins that people want to sell and is pushing price down.  Newly mined coins or emission adds to the supply since a lot miners have to sell to pay their electricity.  Influence of emission of a supply reduce over time.

[BitBustah]

@HairyMaclairy. In your opinion, will grin diseased dick itself to $0.50? What is your crystal ball showing you hehehe?

@Febo. 20 years, grin's inflation will be lower than 3%. The price will depend on adoption.

20 years is an eternity in crypto,  Why couldn't they just put a reasonable inflation rate at the start for grin.  Tech can be great but if price doesn't pump people wont care.