Oh wise wisard, tell us the wisdom of arriving in my shit posts thread to tell us to program in rust.
Does rust increase grins price?
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Trendline broken, so it can go now to new lows in Grin/Btc markets.
Ouch. Is this an all-time low in BTC terms? 0.00057
While I do love speculation culture, maybe you should extand your time table so this rather voilent market doesn’t sink you.
As far as I’m concerned we have been downward for months now, the little bumps up mean little.
It seems the market is not stable yet, back to waiting for the right time to catch the falling knife.
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Also 4:1 grin/beam is a still a thing, watch for that dead weight causing a major crash in the future.
DCA is your friend guys. This project is uncharted territory, tread lightly. I mean, most of us here know how much potential there is for grin to be a top 5 coin, but it’s going to take time. The important thing, is that you don’t sell! That being said, buy only enough, so that it doesn’t bother you when it drops, or keeps dropping. If you panic sell to try and buy in later, that’s only going to help feed the force that pushes the price downward.
Take a sec and look on the bright side here. We’ve been in the $2.XX-$3.XX range for a long time. When you see it go down, take a deep breath and think about how cool this project is! Remember, this is a grassroots project, grin doesn’t have some entity with FUCKYOU levels of cash on hand to support marketing, manipulation, media coverage, etc.
About the newness: Grin is still pretty hard to use, for non computer savvy folks. Moreover, we don’t have cool shit like tip bots, because there’s no way to copy/paste the ol’ bitcoin tip bot code base to grin. That was easy for smiggitysmashcash, supplecoin, nebulum marbles, Xenu bucks, Planks, Marshmallow Fibers, and others to do, because they weren’t built on le mimble wimble protocol, so most of the work was already done there for them already.
Anyway, cheers everyone.
The standard advice is for standard people in standard markets; the diversification advice and its variants is fantastic for those standard people, as its a trade off where you lower you amount of risk by giving up the usefulness of your knowledge; which is great for your average person who when they get stressed buys high and sells low and probably doesn’t actually know anything. But if you were to diversify between say, usd and bolivar, you would necessarily be buying shit.
If you dca’d grin so far you would have lost ~60%(wild estimate) of your investment and sorry but thats not good advice here and now; realistically the price needs to stabilize first. Here and now dcaing is catching the falling knife blindly.
It’s not a loss until you sell.
I think what I want to reiterate, is that I suggest people DCA and also make those buys small enough that whatever % you’re in the red doesn’t matter to you much. For example, buying 1 grin a week, or 2 grin a month, whatever is comfortable enough that more downward price movenent doesn’t effect you emotionally.
YesI’m still in the red even with my DCA plan, but it’s such a relatively small investment, that I don’t really care, and thus, won’t sell. That way I still have my grin in case the rate of new grin holders > rate of sellers.
@Gandalf Hello! Welcome to the forum!
Your doing exactly what you should not be doing, convincing yourself you reducing your risk by doing something risky.
Monkyyys rule one of trading: be honest about why your doing things and what your doing.
Catching a falling knife is an insane risk, when a price paradigm breaks down, its extremely… bold to believe not only can you predict when a new paradigm will be established but on some level what that new paradigm will be. I am of course, bold and insane and will be buying in when it feels right and some early signs of bottoms show up; but heres the thing: I’m calculating, I’m thinking about as carefully as possible, I’m trying to be a major source of knowledge in this market absorbing as many details as I can and its still a major risk for me. For you to be doing it following an algorithm and convincing yourself that you shouldn’t do much thinking about it; its… eh.
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I’m shocked by the number of people on the internet who think this.
If I buy something, and it loses value, I have lost money. For example, I bought my car for more than twice its current value (8 years ago). Do you really believe I haven’t lost any money until I try to sell my car and “discover” the loss?
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Yes. Same goes the other way, like with stocks, you’ve really only made fiat money when you sell for higher than you bought the stock for.
What if you sell it and then buy it again on the same day for the same price? Did you then make/lose money?
Depends on what I initially bought it for.
But you can have fun with Grin. Send it between all those new wallets. You can’t do that with stocks.
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Many people think that Grin’s high inflation rate is a strong point. This is only true in the sense that its market capitalization may increase, but the value of a Grin may not increase. This means that it will only benefit miners, and long-term investors will not benefit from it. I think that in the long term, it is advisable to invest in scarce money, the BTC is the best example.
Why not just buy some ancient Greek gold coins then? They should fullfil your criterion i.e. scarce money.
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“many poeple” i.e. the devs are wrong, lucky reality doesn’t care about your thoeries only your actions and there is allot of elements copied off Bitcoin.
The price will fall until it is a good long term investment, continuous curves cross set points and it’s would be underpriced at 0, so a correct price exists. The never inflation side and the devs are both being stupid imagining tiny details change this reality.
I would argue that the majoirty of Grin’s miners are long term investors. Rather than buy an ICO/ premine, they invested in infrastructure/ rented hash. The estimated inital $100 million in SPVs setup for Grin was laughed at, however, that equated to 1.5-2mil GPS on C29. These investors(VCs in SPVs) are not looking to just ROI( VCs carry exceptional risk for high returns), they don’t fit the profile of a typical miner looking to dump for profit.
Based on the Bitwise exchange report to the SEC, Grin’s real trading volume on trusted exchanges( Bittrex/ Poloniex) is only around $200k USD per day vs the $11mil USD million reported on CMC. Sure, some of the other exchanges will have real volume aswell, however, it’s unlikely to be anything significant( perhaps 100k max and that’s being generous). If there is $300k of real volume, you also have to assume that the majority of that volume is from market makers( bots) looking to scalp the spread, or arbing between exchanges. Has anyone tried to buy a decent size postion on market? You can’t, without pushing the price up- Unless you wait very patiently. On the real exchanges there has been someone accumlating at the lows and reloading as price moves down.
I’d bet that no more than 100k USD per day is actually sell volume( real liquidity) that you could accumulate. So of the 86,400 Grin emmitted each day i’d estimate only around 33k is being sold on market. The other 53k GRIN is being held. If you’re an institutional investor or VC looking to accumulate Grin, you’re battling everyone else for that maybe 33k Grin per day, so it becomes very difficult to buy without pushing price up. Hence why long term ‘investors’ at this point are miners.
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