I do not stop mining - the point was that there are centralized big players in the network - just a fact.
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Wouldnât it dilute their influence if more people started mining? Which brings me back to my first question of âwhat is stopping usâ?
Or do they have so much more influence that it wouldnât even make a difference?
I am not to worried about a lower graph rate. The proportion of block subsidy to the value of transaction in grin stays the same. Meaning an attack is not anymore economically attractive now than it would be with a 10x higher difficulty and hash/graph rate. The whole principle of PoW is that intensives protect the chain since any attack would mean a certain waste of money and resources.
This only leaves the option for a 51% FUD attack, meaning there is the pure objective of causing fear in the market. 0.51*6000 = 3000 Graphs per second. Lets say this attacker would have a super low price for G1 chips of 100$, for a graph rate of 1.2, that would be 100$*3000/1.2 = 250,000$ for the hardware alone at least and then you still have the electricity cost. So a FUD attack would be quite costly.
Alternatively someone could rent GPU power for an attack, but we have grindefender.online 
[REF] which should start mining the other chain when an attack is registered making an attack both obvious and costly. I see the website is not online anymore @bladedoyle @Paouky. Is grin defender still online?
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They are both absent since 2021.
GRIN is centralized and lower gps /security should worry Everybody related Grin.
You again assume attacker will be only economic incentives, not like states or others. This is wishful thinking and praying.
If there is no cartel or monopoly in GRIN (communities of large miners), then it is doomed.
The community is amorphous.
I no longer understand where GRIN is going and what it is for.
Some kind of pile of disparate proposals that lead to nothing.
Messages about high infolation are nonsense. Whatever the inflation, no one uses GRIN. This is an 8-lane expressway on which a horse-drawn cart travels
High inflation ensures that the only way the number goes up is by the number of users increasing.
The number of users only increases if Grin has good UX.
Good UX requires developers.
Developers require motivation (either monetary or ideological). Grin does not offer monetary motivation (outside of the CC rewarding or offering bounties) in these early days because of inflation, so the only motivation is ideological. The good thing is that Grin has the best ideas (values) out of any other project. It canât be beat.
But the number of people motivated by virtuous ideas will inherently be small. Best we can do is stick together and encourage one another. Even 6 highly motivated individuals on a shared mission can change the world. Itâs happened many times.
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now the entire capitalization of the coin is lower than the volume of donations that were sent to the GRIN communityâŚ
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(I apologize to the OP for changing this to a price discussion thread)
What do you expect, @Markozzz ? Outside of pure speculation, there is very little real usage of crypto.
Even bitcoiners will admit that it is a solution seeking a problem. The bitcoin narrative changes so often because theyâre still trying to find the real problem that theyâre solving. Because as foundational money, Bitcoin isnât it (Thereâs not enough of it and the emission was scammy).
Ultimately bitcoin is a solution for the problem of âI donât have enough wealthâ. But that is not the problem that Grin is a solution for.
imho,
we have to buy 1 or 10 (tally-ho) g1-miner(s) = 10 for solo, 1 for pools
we have to buy grins on 1 or 10% (tsdaka) of month returns
we have toâŚ
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I saw the g1 miner can make $10 profit per day. Is that accurate? If so, you could just run that right? Would you make more if you hooked that one miner up to a pool?
What does âtsdakaâ mean?
Good luck finding a G1, not made anymore with no plan for more, and very hard to source used as well.
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Man, thatâs such a bummer. I see the G1 mini is still being sold, but it doesnât look profitable at allâŚ
Edit: I researched the g1 mini more and it actually seems like an awesome device. It was cool to see these two videos as well!
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hi, trab
not only g1, g1-mini too
âtsdakaâ is jewish = % of income that we spend (not quite a regular verb) on donatations or support
grin is a social impotant project and we have toâŚ
I saw the g1 mini is for sale on the ipollo site. Seemed in stock to me. iPollo G1 Mini â iPollo Store
Very few people have found a use for crypto outside of speculation. If you can find a real use for crypto though, you donât need to think of it like âdonationsâ.
Grin is perfectly positioned as a Layer 1 competitor to Bitcoinâs Layer 2 Lightning. Everyday transfers of smallish amounts of cash.
The small market cap is okay for a Venmo/Cashapp type use case. Fast (enough) interactive transactions, good (enough) privacy, enough coins for micro transactions, emission strategy that can support a stable price.
I think focusing on the product side of things can really help grin at this point.
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The mini also holds value very well. The floor price on ebay used is $300 unless there is an auction.
I got lucky sourcing 4 miners for $1086 and could recoup my costs quickly if I wanted to.
Donât know any other ASICs besides the latest and greatest selling used for MSRP.
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Seems like theyâre selling it for $300 on the official iPollo website. Is that a scam website or something?
Nah itâs legit, I do believe there is a $100 import tariff (correction: they charge $100 for S&H) on top for the US if you buy from Ipollo though.
Iâm 50/50 on buying from @NeoGeo and ebay wins. <$300 miners arenât that difficult to source.
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Seems like a benefit of buying from iPollo is the support they provide if something goes wrong?
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Yes, but a used miner should be past the infant mortality part of the bathtub curve, and kept operational at optimal temps itâs unlikely to have issues
And iPollo charges $99 shipping for 1x G1-mini to US.
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