Miners only care economic market incentives. And Grin hashrate tells something.
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Good for small G1 mini miners who holds the coins. The big ones instant sells the new mined Grins thats why the price can not recover.
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yeah it should be better if it hits 1 kgps, more secure and decentralized network. I think Satoshi was wrong about it all.
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Can you elaborate on this? I haven’t thought a ton about hashrate and mining yet.
Hash/Graph rate appears to be back to normal now… Power outage somewhere in China 
It is not normal, it is multi year lower vs low since years.
Less hashrate, less security and decentralization of blockchain. Only a few miners mine, centralized and risky to %51 attacks.
I know that, but what did you mean about this
I think Satoshi was wrong about it all.
And why would the network be more secure if the hash rate goes 4 times lower?
yeah it should be better if it hits 1 kgps, more secure and decentralized network
Quite certain that was irony…
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Less hashrate, less security and decentralization of blockchain
This is not so simple - really what measures decentralization is the number of mining parties on the network. Network hash could be 100kgps but if it’s split between two miners then that’s worse than 10kgps spread across 1000 miners.
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it is worse than that.t. 1 miner mines with 10kgps, ON/OFF at daily. You see jump up and down
from 4kgps to 8 kgps %100 up and down as however he wants.
Grin became centralized more than you imagine, no fair no security to me.
What is the risk? Everyone can see if the chain is forked or rolled back. It’s not ideal, but hashrate follows price, so not really unexpected imo. I don’t think it drastically affects security (who is going to attempt some long-range blockchain rollback attack? for what? to try and get the 0.1 BTC liquidity on tradeogre or something?).
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Risk is centralization, on the mercy of a single miner and contra to Grin features. Crippling the ecosystem and adoption.
Are we all forgetting about game theory? Isn’t this just signaling that it’s a good time to start mining?
Regarding malicious behavior, isn’t it against their best interest to do so? The game theory again. If they mess with the chain, it’s wrecks the price and they’re left holding grin that no one wants. So they do all that work for nothing.
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The risk of continuous centralization is lower when you have a few miners and low difficulty than the same situation and a high difficulty. Why? Because anyone can intervene and make a significant contribution. So whoever is worried or thinks the situation should improve can start mining. That’s what Bitcoin community, including Satoshi, did in the early days/years. Someone has to do the work… and prove it:)
And yes, the risk of a 51% attack is higher when the difficulty is low because it’s simply less costly to create history/blocks. One more reason for people that care to turn on their miners and make it harder (even if just a little bit).
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This is not early days of bitcoin, it has passed 5 years from Grin mainnet. Since Early days of bitcoin, it went contious up trendly, on the contrary Grin hashrate falling down trendly.
You cant claim this, if want to prove it, make a tweet about it with bitcoiners engage and let’s see.
I will bend the knee if this is true.
Again not people tend to mine becuz of incentives it looks like, it is not the begginning of mainnet but this is after 5 year time passed after mainnet.
You add apple and oranges.
1 big miner mining is problem and nobody can call it a network or blockchain.
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Why are you acting like Grin should have the same trajectory as Bitcoin? There’s no halvings here, no limited supply, so the trajectory is inherently very different.
Indeed
Look at the inflation rate. The only way price goes up is via better UX (development), but even with that, the early days (right now) is not expected to have price go up a crazy amount with this inflation. Most important thing is the use case as money. Get more users through superior UX
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yes, inflation rate, fair launch proof of work etc. understood.
@Cobragrin is right it becomes more and more centralized look at this miner enclosed.
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What is stopping you from mining? That is the question we should all be asking ourselves.
For me, I just haven’t looked into it before. Not something I’ve ever done. So it’s just a lack of knowledge.
What’s the reason for you?