Grin Observer - GRN/BTC - Price Movement and Discussion

[Febo]

waiting for $0.50 hehehe.

Waiting for $0.50, that might never really happen.  Maybe better take few prices and buy part of it then. Like 1/3 at $1, 1/3 at $0.5 and 1/3 at $0.25.

[1715233055]

1715233055

[Cryptotourist]

Nice lil pump.



Market Rank #113

[Febo]

New 50 BTC donation to the Grin General Fund - Nov 11

https://www.grin-forum.org/t/donation-to-the-grin-general-fund-nov-11/6446


I wish I would be like Grin when I grow up. 

[Yaunfitda]

New 50 BTC donation to the Grin General Fund - Nov 11

https://www.grin-forum.org/t/donation-to-the-grin-general-fund-nov-11/6446


I wish I would be like Grin when I grow up.  

Here's the block trail:

https://blockchair.com/bitcoin/transaction/0810b1644cea890aad01564de5e4518ebcddb4c84df0c93223f050d580edee45

Maybe someone will questions it's validity  , currently it's up by 17% in the last 24 hours.

$1.34 17.06 %  

[mindrust]

It is $1.56 (+10%) right now. Wasn't this $1 not long ago? Why is the pump? Looks like bulltrap to me tbh but who knows... Maybe grin will lead the next crypto bull run.

[tyz]

It is $1.56 (+10%) right now. Wasn't this $1 not long ago? Why is the pump? Looks like bulltrap to me tbh but who knows... Maybe grin will lead the next crypto bull run.

The reason of this pump can be explained with a 50 BTC donation by an anonymous Bitcoin veteran. The Bitcoins donated where moved last time in 2010. Some even speculated that it could have been Satoshi, but to be honest, the 50 Bitcoins were send from Coinbase exchange to the address in 2010 and I doubt Satoshi even used Coinbase.

https://www.grin-forum.org/t/donation-to-the-grin-general-fund-nov-11/6446

[Hueristic]

It is $1.56 (+10%) right now. Wasn't this $1 not long ago? Why is the pump? Looks like bulltrap to me tbh but who knows... Maybe grin will lead the next crypto bull run.

Looks like its being spun to setup a P&D to me.

https://newslogical.com/charlie-lee-claims-satoshi-nakamoto-recently-donates-50-btc-to-grin/


Let the Devs work in peace and have patience.

[RivAngE]

It is $1.56 (+10%) right now. Wasn't this $1 not long ago? Why is the pump? Looks like bulltrap to me tbh but who knows... Maybe grin will lead the next crypto bull run.

Looks like its being spun to setup a P&D to me.

https://newslogical.com/charlie-lee-claims-satoshi-nakamoto-recently-donates-50-btc-to-grin/

Let the Devs work in peace and have patience.

It makes sense to see a pump though,
1) Some people are rushing to buy after learning of the support the devs have received,
2) The devs hopefully spend some of the BTC to buy their own coin

However even if they'd trade all 50 BTC to buy GRIN coins, that'd only add 1% to its total market cap!
Hopefully they'll use this donation to pay for personnel or other collaborations and create something awesome which will add value to the network, not just pump the coin. And I believe they won't just P&D the coin, they seem clever enough to know that won't do them any good in the long run.

[Hueristic]

It is $1.56 (+10%) right now. Wasn't this $1 not long ago? Why is the pump? Looks like bulltrap to me tbh but who knows... Maybe grin will lead the next crypto bull run.

Looks like its being spun to setup a P&D to me.

https://newslogical.com/charlie-lee-claims-satoshi-nakamoto-recently-donates-50-btc-to-grin/

Let the Devs work in peace and have patience.

It makes sense to see a pump though,
1) Some people are rushing to buy after learning of the support the devs have received,
2) The devs hopefully spend some of the BTC to buy their own coin

However even if they'd trade all 50 BTC to buy GRIN coins, that'd only add 1% to its total market cap!
Hopefully they'll use this donation to pay for personnel or other collaborations and create something awesome which will add value to the network, not just pump the coin. And I believe they won't just P&D the coin, they seem clever enough to know that won't do them any good in the long run.

No-one ever said it was the devs who would P&D, I doubt the devs even have enough coins to dent the market if they dumped. Stop thinking this is a pre mine scam coin guys.

I hope they don't do the bolded (well not until they are ready for prime time) and I don't think they will, as they know the policy better than us and know they can grab m0ar later and they will also know the timing better than any of us here.

BTW if they do they will post it in the spent funds git so we will know so there is that.

[bbc.reporter]

It is $1.56 (+10%) right now. Wasn't this $1 not long ago? Why is the pump? Looks like bulltrap to me tbh but who knows... Maybe grin will lead the next crypto bull run.

The reason of this pump can be explained with a 50 BTC donation by an anonymous Bitcoin veteran. The Bitcoins donated where moved last time in 2010. Some even speculated that it could have been Satoshi, but to be honest, the 50 Bitcoins were send from Coinbase exchange to the address in 2010 and I doubt Satoshi even used Coinbase.

https://www.grin-forum.org/t/donation-to-the-grin-general-fund-nov-11/6446

He was not referring to Coinbase the exchange hehehe. He was saying that the donation came from a coinbase transaction. The 50 donation came directly from one of the early generated coins by an early bitcoin miner.

Charlie Lee is hyping this as a Satoshi donation hehe.

[mindrust]

Theymos likes the coin a lot. I would say it is theymos. Some people say theymos is satoshi too btw and that's not a far off possibility. We'll see how long it is going to hold its ground with this bandaid. There simply isn't much demand but everything can change so quickly once binance adds it.

[Febo]

It actually makes total sense for price to pump when donation is done. Donation was more then 1.5% of Grin marketcap. It added the value to the coin. It will help to pay development. All coins that base on donations to general found or have projects that crowdfund them self, should increase in price when such donations or a project gets fully founded. Coins that are founded by stealing from miners with some sort of a tax or premine can only be pumped by market manipulation.

[ePesoInitiative]

It is $1.56 (+10%) right now. Wasn't this $1 not long ago? Why is the pump? Looks like bulltrap to me tbh but who knows... Maybe grin will lead the next crypto bull run.

The reason of this pump can be explained with a 50 BTC donation by an anonymous Bitcoin veteran. The Bitcoins donated where moved last time in 2010. Some even speculated that it could have been Satoshi, but to be honest, the 50 Bitcoins were send from Coinbase exchange to the address in 2010 and I doubt Satoshi even used Coinbase.

https://www.grin-forum.org/t/donation-to-the-grin-general-fund-nov-11/6446

He was not referring to Coinbase the exchange hehehe. He was saying that the donation came from a coinbase transaction. The 50 donation came directly from one of the early generated coins by an early bitcoin miner.

Charlie Lee is hyping this as a Satoshi donation hehe.

The donation is almost half a million dollars in today's Bitcoin price. That is a large sum of money for a donation. Only a large holder of Bitcoin can easily give away anonymously. This tells me that the donor is a very early Bitcoin holder whom is hedging on Grin to be a possible Bitcoin replacement - not really sure though.

[bbc.reporter]

@ePesoInitiative. However, it is a bitcoin replacement. It is a replacement for all cryptocoins that will become insecure when their coin issuances have reached their limit.

Transaction security depends on how much is received by miners in a block. When issuance has reached the limit, I reckon paying high fees for secure transactions will only encourage users to use an altcoin. This will also cause miners to leave because the people that pay them have gone and the issuance in the block as payment for them are gone.

[Hueristic]

Theymos likes the coin a lot. I would say it is theymos. Some people say theymos is satoshi too btw and that's not a far off possibility. We'll see how long it is going to hold its ground with this bandaid. There simply isn't much demand but everything can change so quickly once binance adds it.

Thats Ludicrous.

The donation is almost half a million dollars in today's Bitcoin price. That is a large sum of money for a donation. Only a large holder of Bitcoin can easily give away anonymously. This tells me that the donor is a very early Bitcoin holder whom is hedging on Grin to be a possible Bitcoin replacement - not really sure though.

That's an extremely small sum for such an extended development timeline not to mention the goal. There will need to be more such infusions over the years.

[consideritdone]

Grin price move last week has been good https://www.coingecko.com/en/coins/grin

[bbc.reporter]

The donation is almost half a million dollars in today's Bitcoin price. That is a large sum of money for a donation. Only a large holder of Bitcoin can easily give away anonymously. This tells me that the donor is a very early Bitcoin holder whom is hedging on Grin to be a possible Bitcoin replacement - not really sure though.

That's an extremely small sum for such an extended development timeline not to mention the goal. There will need to be more such infusions over the years.

Agreed. However, they also say that Satoshi's wallets hold millions of bitcoins. There will certainly be more 50 bitcoin donations going to Grin's development team hehehehe.

[Cryptotourist]

I'm not sure I like the narrative that Satoshi supports or is behind Grin's development donations.

Although this makes sense:

Transaction security depends on how much is received by miners in a block. When issuance has reached the limit, I reckon paying high fees for secure transactions will only encourage users to use an altcoin. This will also cause miners to leave because the people that pay them have gone and the issuance in the block as payment for them are gone.

This doesn't:

However, it is a bitcoin replacement. It is a replacement for all cryptocoins that will become insecure when their coin issuances have reached their limit.

You are speculating that in a few years, when 95% of BTC has been mined, somehow Grin will replace it, and all alt coins including BTC will be pegged to Grin?
Or that Grin will be adjusted somehow to act as a 2nd layer solution to BTC?
What happens to BTC/BTC price then is my real question - since you mentioned the word, replacement.

Agreed. However, they also say that Satoshi's wallets hold millions of bitcoins. There will certainly be more 50 bitcoin donations going to Grin's development team hehehehe.

Well, Satoshi's computer mined the first 36k blocks/1.8M BTC, most of them never moved, as commonly accepted.
The donator's mined BTC was the reward for block #94894. Obviously an early miner is involved (01/12/2010), but Satoshi himself?

Strange, Last Active: December 13, 2010

[rocku12345]

I'm not sure I like the narrative that Satoshi supports or is behind Grin's development donations.

Although this makes sense:

Transaction security depends on how much is received by miners in a block. When issuance has reached the limit, I reckon paying high fees for secure transactions will only encourage users to use an altcoin. This will also cause miners to leave because the people that pay them have gone and the issuance in the block as payment for them are gone.

This doesn't:

However, it is a bitcoin replacement. It is a replacement for all cryptocoins that will become insecure when their coin issuances have reached their limit.

You are speculating that in a few years, when 95% of BTC has been mined, somehow Grin will replace it, and all alt coins including BTC will be pegged to Grin?
Or that Grin will be adjusted somehow to act as a 2nd layer solution to BTC?
What happens to BTC/BTC price then is my real question - since you mentioned the word, replacement.

Agreed. However, they also say that Satoshi's wallets hold millions of bitcoins. There will certainly be more 50 bitcoin donations going to Grin's development team hehehehe.

Well, Satoshi's computer mined the first 36k blocks/1.8M BTC, most of them never moved, as commonly accepted.
The donator's mined BTC was the reward for block #94894. Obviously an early miner is involved (01/12/2010), but Satoshi himself?

Strange, Last Active: December 13, 2010

Too many investors are discusing that 50btc donation, but it is not really valuable in a whole sitation of GRIN development.
I don`t know why but the overal quantity of dev`s commits are really poor this autumn.
Maybe right because of that the course of the GRIN coin is so low and not reacting in a big rise even after such news.

[bbc.reporter]

I'm not sure I like the narrative that Satoshi supports or is behind Grin's development donations.

Although this makes sense:

Transaction security depends on how much is received by miners in a block. When issuance has reached the limit, I reckon paying high fees for secure transactions will only encourage users to use an altcoin. This will also cause miners to leave because the people that pay them have gone and the issuance in the block as payment for them are gone.

This doesn't:

However, it is a bitcoin replacement. It is a replacement for all cryptocoins that will become insecure when their coin issuances have reached their limit.

You are speculating that in a few years, when 95% of BTC has been mined, somehow Grin will replace it, and all alt coins including BTC will be pegged to Grin?
Or that Grin will be adjusted somehow to act as a 2nd layer solution to BTC?
What happens to BTC/BTC price then is my real question - since you mentioned the word, replacement.

Those quotes' arguments are similar.

It might take longer after all the bitcoins have been mined, however, yes I speculate that Grin will be seen as a replacement for bitcoin for cryptocoin storage and transactions. Grin's monetary policy assures that its security is sustainable.