But who got bingo?
I think I’m missing a few
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Gemini - the Winkelvoss twins? Really?
I also like gemini, the tiny coin count suggests they care about not enabling shitcoins and I think auctions are possibly important altho I’m not clear on the details as im not causing slippage in btc any time soon, but it maybe an important service. Add in a tether competitor when I deeply hate bitfinex, I think they are very important.
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In a shocking turn of events, I’m going to let this upswing slide again.
When I look at btc price and see a 7bleh it feels low, which is insane of course given it’s just raisen so much, but you know it means I have forgetten the old paradiem i.e. Bitcoin has a new paradiem to stabilize. Soon tm, soon tm, beam ratio is broken, it’s capable of upswings in btc, these gains grin got when btc went up could be lost if btc goes 7500 and it’s unlikely that btc is going to jump 2 k week after week.
For the first time ever I’m thinking grin will be flatish for 2 weeks ish, to match probable btc stabilizing, that .00028 number?
Next knife catch, the stars align… Unless I think of new reasons.
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Brave senator, advocates for Bitcoin on live TV and congress clearly stating cypherpunk thought.
So what’s everyone up to this weekend? I’m just chillin’, gonna practice guitar, maybe go to the shooting range, and suck at golf in public on Sunday.
I’m continually surprised how grin prices seem to be closer to USD than BTC denominated. When BTC goes up, grin often goes down, which keeps USD price more stable. Why?
I think thats the btc dom making moves; not usd pricing.
Maybe a large miner is funded/owned by an investor who has a specific USD recuperation target. Coins are always coming in, but they wait for a USD price threshold to sell…
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You could be onto something. Based on the Coingecko ‘trusted’ exchanges, around half the volume is being transacted in USDT.
All this pretty much comes from Gate.io & Bitforex.
-BTI list real exchanges inline with the Bitwise report. They now list Gate.io as a verified exchange so at-least some of that USDT volume must be legit https://www.bti.live/exchanges/
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I’d like to see Grin listed on Gemini, more so than pretty much any other exchange.
-Gemini is the most legitimate exchange from a regulatory standpoint and is one of the most trusted custodians. If you’re an institutional client you’ll feel relatively safe holding coins on Gemini.
-Gemini recently partnered with Flexa to offer Crypto retail payments at major retailers( over 30k stores, because it’s seamlessly built into their existing payment systems). https://medium.com/gemini/flexa-and-gemini-partner-to-make-it-easy-to-use-cryptocurrency-b9ace9174bcc Although it’s more of a payment workaround, i.e Crytpo funds are held in custody by a centralized 3rd party and merchants will be paid in USD from Gemini’s issuing bank( I assume by the bank that issues the Gemini dollar). However, it still brings awareness to spending crypto for retail payments( which is going to be a huge appeal for the average Jo who has never yet held any CryptoCurrency before, but one day soon will)
- Since Grin is designed as a currency for spending( The magical P2P cash that BTC isn’t) and because a currencies most significant demand comes from having available spending money. Having Grin available to spend via the Flexa app at 30k retail stores seems like a great way to build awareness/ increase adoption. All without spending a dime.
Here’s an example of how seamless it is spending LTC( it wouldn’t matter what Cryptocurrency it as, it would all work the same since transactions are handled off chain. It just the backing of Gemini and the support of Flexa)
- Might sound really silly the thought of a regulated US exchange taking on a privacy coin like Grin, However, Zcash was the 3rd currency they listed.
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anyone have thoughts on zcash?
Some of you may remember I was active at Zcash Genesis and founded Zeropond as a community-backed Zcash mining operation.
The main points often made about Zcash are:
- privacy is top-tier among coins in theory
- almost no one uses the privacy features since it requires sending to special zaddr addresses that are not supported by almost anyone (support is difficult and exchanges don’t bother. They only accept “transparent” Zcash)
- some people criticize ZK-SNARKs as being too new and too complicated to be a reliable technology. I know cryptography experts who generally don’t trust the implementations of ZK proofs. It’s heady math that’s difficult to review.
- private transactions from zaddr to zaddr are slow to compute and verify although the speed has improved tremendously in recent releases.
That being said, the tech is getting faster with new releases, and as it ages and gets reviewed it will become more trusted. There’s a good chance Zcash is the best option for privacy long-term.
IMO, MW is not about privacy really. The p2p network still sees all your transactions before they’re on-chain. I think Grin dev has something planned for that but I’m not up to date. I see Grin as a performance coin not a privacy coin.
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The main downside on Zcashs privacy is the fact of being optional. Unless they make it mandatory, I do not see any chance for it to succeed. If they do not want risk to be kicked off exchanges they will certainly not follow that path either.
IMHO people do not really care to much about it being slow ATM. I guess only a minority does the amount of transactions, where the actual computation speed matters too much (yet).
The other flaw is the founder reward, which is arguable in either way, but I just think the whole story behind a coin plays a major role and should not be underestimated. This whole network thing is mainly a social contract and it´s not always the best tech to win the game.
So, I definitely see Grin quite superior in both categories to Zcash. The point you mentioned about the current transaction method via IP is the largest downside, but can be fixed.
Back to the storytelling: This is something you can not fix for Zcash. Although I am not sure it is enough for Grin to succeed and compete with 2nd or 3rd layer solutions in BTC.
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But the network won’t know they are yours as they all look like uniformly random data, varying only in number of inputs and outputs.
Only some of the people you transacted with could recognize some inputs as yours, but that will be of limited use as better decoy and aggregation methods are developed in future,
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Like Beam’s use of decoy outputs in the Dandelion stem phase?
Zcash support ASIC to have quick money for founders in 4 years. After 4 years, I guess they can abandon their project or create a new coin. They betrayed the community from promising people that Zcash is ASIC resistance from the beginning. Moreover, a coin created by the company could have a ‘backdoor’ as zookoo twitted.
I really regret support them and converted all my ZEC to XMR.
Now I’d like to early invest in something new like Grin.
I tend away from ZCash for the reasons listed by the previous few posts, but I have been involved in Horizen (ZEN) formerly ZenCash. This is a fork of ZCash with more open governance and a more use-case oriented community rather than Zcash’s mostly academic/industry leaning stance. For me Horizen is the best supported privacy coin ATM, but GRIN could easily take it’s place once more user friendly tools are in place.
Friendly reminder, ltc halfing has been know about in advance since launch and the market forces of hardware work on time scales of months, the hype about a sudden increase on halfing day is grossly misinformed