Well then I’d better start working on my Jeff Goldblum ‘life finds a way’ grin meme…
Yeah, as everyone’s noticed bitcoin’s going up with no volume, spindly trades of bots selling to themselves to up the price, which is what always happens before the weekend dump. They’re trying to get people to buy in to dump. So, right now it looks like Grin is going down with other similar projects while the majors go up, but I believe that’ll reverse this weekend.
Grin is well-poised for this future. Strong proof-of-work security, privacy extreme (you can’t track what’s not kept) both looking great future forward. It’s supposed weaknesses are irrelevant in this future: the emission schedule is good if it’s too be a cyberpunk economy store of value on the fringe, and the transaction slowness is irrelevant for this kind of value proposition. Dapps and such require fast coins, but they also require host-country acceptance. Grin is fast enough for what it would do in this future. It’s almost like Grin is Bitcoin 2.0 when Bitcoin was just beginnning to go in the nursing home, which is what I thought in the first place.
Not yet, I’m still worried this was a pump and dump or a random eddy from the raise in btc.
This doesn’t look different enough from march for me.
The best time to buy btc was not when it was going up, but rather when it was flat, a week of spikyness isnt the same a a new month of flat.
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Hmmm? I posted 5 days ago and nothing changed in my opinion.
Source? Binance just announced they were opening a US branch.
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No Binance is blocking US. They say they hope to resolve the issue someday later possibly with the agreement with BAM. But do you think US users are going to wait around for months to see if this happens, or just sell their coins in the next 90 days while they can, and buy back in a year if this really ever happens. Also, FinCEN gets to decide, it’s not definite. No business can expect to maintain loyalty while closed for months to a year.
To be clear, I am NOT blaming Binance. The US is screwing Americans, national security and future US prosperity, but I didn’t really expect good decisions from total morons. That would be odd.
There are a few obvious differences when you just look at “back of the envelope” style analysis
-In March price increased a max of 54% from ATLs, this time price has increased a max of 124%( so far)
-From the March move, price made it’s high after 9 days and then only took 18 days before it made new ATLs again. This time there was alot more consolidation( The initial pump from ATLs pulled back and consolidated with some very small daily range bars and then broke out into new highs which were still being made 30+ days into the move.
-This current move would have looked a lot similar to the March move if price had broken down to ATLs again at the end of May. But it didn’t.
-Those big 2x big thrusts up on 8th & 12th of June had volume close to 2x greater than any other single day reported on Poloniex( the most legit/ largest real volume exchange)
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And here we go - 11% in one hour … $4.19 now. We’re gonna fly, men.
I’m not sure I see the importance of all time lows in a bear market that I think is disgustingly over hyped by inexperienced traders.
My mental model going all the way back has been “fancy math people want to buy fancy math coin at any price offered; and they are going to get burned” Optimism and a quick buck isn’t convincing that has changed. We need crushing depression and stability.
Oh my, this is awesome!!!
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Grin looks like its topped out for now. If it moves quickly now breaking new highs I think that would be a blow off top and can imagine it reversing pretty violently. If it consolidates here at a tight range between 0.00045-0.0005 for the next few days - weeks, I can imagine it having enough energy for a next leg up into 0.000865.
Otherwise, I am expecting it to bleed into a trading range below 0.00035. Probably the area to look for buys if it finds a range somewhere below there. If it tests the bottom and doesn’t bounce i mean, you’re looking at another 50% drawdown easily.
Just my brain farts.
I think Grin’s going to act like my other coins with a generous emission: they basically bump 10-15% every 3-4 weeks and range otherwise. FOMO is always present sometime, but mollified by the every increasing supply. Grin’s biggest problem is it’s competitors - the other POW privacy coins. I believe technically it’s clearly the best of those, but others need to see it.
I agree that hopes for a quick buck isn’t a convincing reason to buy into anything; however, the optimism of the general public of this coin isn’t completely correlative to market sentiment and is a bit more complicated and astute than just “fancy math people” buying whatever.
Just another observation, it looks like for the last day, its been pretty correlated with BTC movement. (looking at GRIN/BTC pair). Don’t know how long this will last, but might be good to pay attention to both while they are correlated temporarily. I think Grin lags a tiny bit simply due to size and volume.
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Wow, that’s pretty dark. In a functional democracy, people should actually have ALL the power. And I can’t see why people today wouldn’t be autonomous or powerful. Especially in the United States.
I don’t want to start a political debate, but I think crypto currency is the most powerful tool for a libertarian renaissance that was ever invented.
I think we see nothing less than a new age of financial enlightenment. For those that want to join that is.
No, I don’t think so. PoW and a permissionless peer-2-peer cash is revolutionary new. “Just some FinTech tool” is: Paypal, Facebook Coin, Online Banking, etc.
Banks hardly do anything for the economy. And when they fall, they cost a lot of tax payers’ money. How is that good?
All they do is live on interest rates that industry and people have to earn.
Maybe I’d agree insurance companies do some good, but banks?
I agree on that, crypto can probably not be a tool for the 3rd world immediately.
However, it will probably not even be a tool for the financially uneducated.
We might very well see a 2-class monetary society in the next decades, where the financially educated will use crypto, and the other won’t.
But maybe I’m too optimistic 
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More optimism… joy.
Another unblooded hand to catch the falling knife before it hits the ground. I’ve been saying the same thing for 6 months, and the market has been down for 6 months; prices are a conflict between pro’s and cons, and no paradigm has yet to consider con’s and there isn’t shorting when I say “fancy math people buying at any price” the important bit is the latter half. I want buyers to consider cons and have a balanced view but NO, the people who I seen buy in are happy happy happy all the time. When I simply don’t think that justified for a grin/btc market in the same way it was for btc/usd
I understand what you’re saying. I’m going to read more of your posts and figure out exactly where you’re coming from so I can further my understanding of your position. I don’t believe in hopium and arbitrary pricing and I don’t know the true value of GRIN, but I remain optimistic in its usefulness and adoption.