[ANN][GRS] Groestlcoin | 1st to activate Segwit & Taproot

[drakoin]

bittrex early bird optimists
meanwhile these are the nxt-e prices

Why optimists?  I really don't get this scene anymore. When a coin is new, a price can be created.

But some miners do not even want to create attractive prices anymore, they undersell each other - so far below what is a nice price. And then you don't even earn enough to pay the electricity. Makes no sense.

Back in the old days (i.e. 10 weeks ago), when GPU mining of PoW coins was still worthwhile, a coin started to be interesting when 1 MH/s (scrypt) could create an equivalent of about 2 million Satoshis per day. In the first days or even weeks of a coinstart, especially with a new algorithm, (much) more than that, sometimes.

But now look at this:

If my preliminary calculations are right,
2 million Satoshi worth of coins per day
with 1 MH/s scrypt hardware would
need 2506 Satoshi per Groestlcoin
at the current Groestl-difficulty of 88.3 .

Dumping the coin now for one sixth of that ... is destructive.
Even if the electricity consumption is only 50% (which by the way is fantastic, thank you devs, for this algo!).

The difficulty must rise and rise and rise, that is good for the security of the coin - but will the price rise even faster? I doubt it.

Miner, educate yourself better! Learn what you need to know otherwise you cut the branch you are sitting on! And all of us fall - because of you.

 


EDIT: changed some words, took the anger out :-)

[deathchuck]

bittrex early bird optimists
meanwhile these are the nxt-e prices

Why optimists?  I really don't get this scene anymore. When a coin is new, a new price can actually be created, but some miners do not even want to create profitable prices anymore, they undersell themselves - so far below what is a nice price. And then you don't even earn enough to pay the electricity. Stupid.

Only a few weeks ago, a coin was profitable when 1 MH/s (scrypt) could create about 2 million Satoshi per day. In the first days or weeks even (much) more than that sometimes.

If my preliminary calculations are right,
2 million Satoshi per day
with 1 MH/s scrypt hardware would
need 2400 Satoshi per Groestlcoin
at the current Groestl-difficulty of 88.

Dumping the coin now for one sixth of that ... is plain destructive.
Even if the electricity consumption is only 50%.

The difficulty will rise and rise and rise, and that is good for the coin - but will the price rise even faster? I doubt it.

Miner, don't be stupid!

 

I agree with you, many miners are stupid. I can't understand why they are sold at a low price.
A good coin as GRS must be traded on the larger exchange with intelligent miners.

[tinus42]

Directly scanning the executable, we get this:

https://www.virustotal.com/en/file/4b379c93d3f712fbc48687f672ee517a3034ad5a9bd48905744aa87371517d7a/analysis/

Code:

SHA256:	4b379c93d3f712fbc48687f672ee517a3034ad5a9bd48905744aa87371517d7a
File name:	sgminer.exe
Detection ratio:	 3 / 51
Analysis date:	 2014-03-26 04:08:11 UTC ( 1 week, 1 day ago )

with two detections of a miner:

Code:

AntiVir	 APPL/Bitcoinminer.Gen	 20140326
ESET-NOD32	 a variant of Win32/BitCoinMiner.BF	 20140326

and a heuristics hit:

Code:

McAfee-GW-Edition	 Heuristic.LooksLike.Win32.Suspicious.J!88	 20140326

which appears often, also, but not only, in cgminer:  Heuristic.LooksLike.Win32.Suspicious.J!88

?

Miners always show up as positives because some trojans use them to mine coins for botnets. You can exclude them in your AV software though.

[drakoin]

bittrex early bird optimists
meanwhile these are the nxt-e prices

Why optimists?  I really don't get this scene anymore. When a coin is new, a price can be created.

But some miners do not even want to create attractive prices anymore, they undersell each other - so far below what is a nice price. And then you don't even earn enough to pay the electricity. Makes no sense.

Back in the old days (i.e. 10 weeks ago), when GPU mining of PoW coins was still worthwhile, a coin started to be interesting when 1 MH/s (scrypt) could create an equivalent of about 2 million Satoshis per day. In the first days or even weeks of a coinstart, especially with a new algorithm, (much) more than that, sometimes.

But now look at this:

If my preliminary calculations are right,
2 million Satoshi worth of coins per day
with 1 MH/s scrypt hardware would
need 2506 Satoshi per Groestlcoin
at the current Groestl-difficulty of 88.3 .

Dumping the coin now for one sixth of that ... is destructive.
Even if the electricity consumption is only 50% (which by the way is fantastic, thank you devs, for this algo!).

The difficulty must rise and rise and rise, that is good for the security of the coin - but will the price rise even faster? I doubt it.

Miner, educate yourself better! Learn what you need to know otherwise you cut the branch you are sitting on! And all of us fall - because of you.

 


EDIT: changed some words, took the anger out :-)

I agree with you, many miners are stupid. I can't understand why they are sold at a low price.
A good coin as GRS must be traded on the larger exchange with intelligent miners.

So let's turn this around. Sorry myself for having called that stupid. It's ... lack of knowledge.

There is a tiny last chance ... if we educate as many as possible about what they need to know.

Three first ideas:

• ! --> The mining price relates difficulty, block reward, and hashrate - to daily earnings.  Newbie-Miner, please study this.
  
  
• ! --> Wolfpack strategies (see insanitycoin debates "I was amazed that people ..." ):
  If someone wants to be eaten and sells low, single him out,
  but don't run after him and give him support by going low yourself.
  
  
• ! --> your idea. What else could be done?
  
  

[danghaonam]

gruve_p , if you haven't skill to improve this coin , plz ask or learn about this , or talent person who can lead this coin
A great coin can't be lead by a child , right ?

[deathchuck]

Bạn Hạo Nam chơi chiêu khích tướng hả?. He he

[danghaonam]

Bạn Hạo Nam chơi chiêu khích tướng hả?. He he

^^ Đi đâu cũng thấy bác vậy vl 
Thằng phát triển coin ngu quá phải góp ý thôi
Peace in happiness ^^

[verdun2003]

The team is slowly building up - I can do some PR on my end.

This coin has many things going for it, from low energy algo to CPU/GPU friendliness. We are in a instant world where people expect high gains in a very short period of time - this coin has 10 days guys, it took weeks for darkcoin, aurora or vertcoin to emerge - not even talking about bitcoin...

I've been mining this coin since a few days now, and love the fact that it is still undermined - Eventually, if the coin has value, it will explode no matter what we do, it's just a matter of time before the market realizes the advantages of groestlcoin.

[deathchuck]

^^ Đi đâu cũng thấy bác vậy vl  Grin
Thằng phát triển coin ngu quá phải góp ý thôi
Peace in happiness ^^

Hữu xạ tự nhiên hương, đời tự sanh tự diệt vô thường lắm. Nó có sức nó tự sống, nó yểu mệnh thì mình tự gánh chịu thôi. Vậy đi cho đỡ nhức đầu, ngộ nhỡ 1 ngày nó lên như Vert thì chả biết đâu mà lần. He he.

[gitrix]

Keep Mining ....!!! 
help & vote at mintpal .PLS.....!!!! make it visible!    it will be more profitable    !!

vote: https://www.mintpal.com/voting
Growth =  Persistence & Promotion

[binhpx]

^^ Đi đâu cũng thấy bác vậy vl  Grin
Thằng phát triển coin ngu quá phải góp ý thôi
Peace in happiness ^^

Hữu xạ tự nhiên hương, đời tự sanh tự diệt vô thường lắm. Nó có sức nó tự sống, nó yểu mệnh thì mình tự gánh chịu thôi. Vậy đi cho đỡ nhức đầu, ngộ nhỡ 1 ngày nó lên như Vert thì chả biết đâu mà lần. He he.

English please ,vozers ;-)

[Bigballs]

Grostl twitter account is up!

https://twitter.com/GroestlcoinTeam

Gonna be reminding on each page!

Start following, retweeting and supporting your community NOW!

[Chainger]

https://cpu-pool.net/grs down?

[DubFX]

https://cpu-pool.net/grs down?

Seems also down for me.

[child_harold]

We need some more quality pools - im thinking coinmine - will PM feeleep now

[child_harold]

ALSO need to update main post with:

1. bittrex under exchanges
2. suchpool suprnova under pools

[child_harold]

Is there a reason why the logo is G2? 

The logo is a Scrabble™ game piece.



I thought it was clever, but  I'm not sure if Milton Bradley's lawyers would approve.

Grøstl is a new cryptographic hash function designed in response to the Cryptographic Hash Algorithm Competition announced by NIST. Grøstl is one of the five finalists in the competition and it is a tweaked version of its predecessor called Grøstl-0, the original submission to the competition.

So the 2 is a version number

[tinus42]

Is there a reason why the logo is G2? 

The logo is a Scrabble™ game piece.



I thought it was clever, but  I'm not sure if Milton Bradley's lawyers would approve.

It is too basic to fall under copyright law. There is no original design, just a letter and a number.

[verdun2003]

Is there a reason why the logo is G2? 

The logo is a Scrabble™ game piece.



I thought it was clever, but  I'm not sure if Milton Bradley's lawyers would approve.

It is too basic to fall under copyright law. There is no original design, just a letter and a number.

Who cares about copyright in the crypto world?

[stizz]

bittrex early bird optimists
meanwhile these are the nxt-e prices

Why optimists?  I really don't get this scene anymore. When a coin is new, a price can be created.

But some miners do not even want to create attractive prices anymore, they undersell each other - so far below what is a nice price. And then you don't even earn enough to pay the electricity. Makes no sense.

Back in the old days (i.e. 10 weeks ago), when GPU mining of PoW coins was still worthwhile, a coin started to be interesting when 1 MH/s (scrypt) could create an equivalent of about 2 million Satoshis per day. In the first days or even weeks of a coinstart, especially with a new algorithm, (much) more than that, sometimes.

But now look at this:

If my preliminary calculations are right,
2 million Satoshi worth of coins per day
with 1 MH/s scrypt hardware would
need 2506 Satoshi per Groestlcoin
at the current Groestl-difficulty of 88.3 .

Dumping the coin now for one sixth of that ... is destructive.
Even if the electricity consumption is only 50% (which by the way is fantastic, thank you devs, for this algo!).

The difficulty must rise and rise and rise, that is good for the security of the coin - but will the price rise even faster? I doubt it.

Miner, educate yourself better! Learn what you need to know otherwise you cut the branch you are sitting on! And all of us fall - because of you.

 


EDIT: changed some words, took the anger out :-)

You clearly misconstrued my post.

All I did was point out price discrepancy between the 2 exchanges. I made no opinion about what the price should be. If it matters to you I think 2500 satoshi is realistic in the coming months.

and why not optimists? I am one too. I'm just not going to buy GRS for 3x what it is going for elsewhere; I'm buying at 500 satoshi, not 1500.