@syntaxjak I did not want to go in details, but yes I counter dumped the price, so bought back the price within the range where there were no more buy orders. So, large red candle done by others, then bought up with 1$ worth of Grin to restore the price creating a nice green candle. The funniest thing was that after my 1$ price buy up, others kept on buying since they had seen such a nice 'bounce".
It illustrates the point that with little money, one can sometimes influence the market sentiment greatly.
Just do it jourself with your funds and earn in the process, that is best and the truly decentralised way of doing things.
I think we need new management of this project, the “do it yourself” attitude ain’t working. What are the donated funds for if yall don’t do shit with it for the community just pay yourselves. Lol scammers
Actually I shouldn’t complain, I’ve never donated so at least I haven’t been grifted by these guys. Gotta feel bad for everyone who did though, any donations to these guys will only lower grin’s value as they dump it for more btc hahaha fact.
My offer to help yall has been rescinded.
In fact, I’ve never made any money market making or trading ever. I don’t even know how to do it, just click buttons I heard.
How does it benefit the community to simply sell the community funds? You spread it out, but all that happens is you sell it over a longer period of time. What good is that actually doing? I’m actually wondering here.
When we say “do it yourself”, we are saying “make money for yourself”. Why would you be opposed to making money for yourself? You said that you could be a market maker with your own grin. And if you’re good at it like you say, you could have your own business. That seems smart to me.
When the grin CC funds are all gone, there will be nothing to fund community projects that actually find real uses for grin beyond trading. So I think selling them all is a bad idea.
The only person on the CC that could potentially get paid is the one groundskeeper, and even that is probably getting rejected. Ironically, the groundskeeper is the only one keeping the CC transparent and open with the community.
Exactly, just wait for it. First no support for funding the groundkeeper, then half a year later community members will start complaining there is a lack of transparency and the documentation is not up to date, o and not enough outreach (newsletter)
lol - huh? Sell community funds? Anyways, ya, how do I even turn on the computer, just press some buttons I heard. Maybe just need to pour some brondo on it - you know brondo is the thirst mutilator right?
Why are you acting belligerent? What changed here?
You’re asking for the Community Council to give a large chunk of their funds to use as liquidity, yes? And then have you (or some other expert in market making) manage it.
I understand that liquidity (and thus market making) is both buying and selling. But in reality, whenever Grin becomes available, it just gets bought. That’s why exchanges are “desperate” for it. So what you’re proposing is really just selling off the Community Council funds, which were funds dedicated to promoting community projects that expand the usage of Grin and improve its UX.
Now, why were CC funds set aside to begin with? Because Grin doesn’t have halvings. So any increase in price in the next 20 years is going to be based purely on UX improvements (more usage).
In terms of what “other projects” do, it seems fairly irrelevant because “other projects” are centrally controlled or pre-mined. Very different situation. It’s not the job of the Community Council to create a planned economy.
In fact, it would be better for someone to pursue market making as an individual or company acting in their own best interest and not beholden to any community requirements. You’d have the freedom to pursue the best, most profitable market making strategy for you.
“Whenever grin becomes available, it just gets bought”
It’s certain things you both say that reveals to me you guys have literally no idea what you’re talking about, like absolutely no clue what so ever.
It’s become completely futile trying to teach yall anything cuz you think you know but it’s Painfully obvious to anyone in the game, that yall are just pretending and are unwilling to learn - a dreadful combination!
Time to close this topic. Repeating argument and going in circles is rather useless. You asked, we discussed and you have your answer.
Summary
Liquidity is important, does the CC agree. Yes, but low liquidity at any price is a sign the market does not support that price.
Does the CC want to use CC funds for market making by giving some to @syntaxjak to play market maker No, it is against CC spending guidelines to influence the market in any way and we prefer a decentralized approach where community members do the market making with their own funds and where CC funds are not exposed to risk.
I believe that Grin’s low liquidity is the result of a number of issues. Being a so called privacy coin, means that exchanges have legal challenges listing it. This means that less people have access to it which leads to low demand, low liquidity and low volume. For a market maker, there is low profit with high risk (of exchange hack/scam).
I personally wouldn’t put any significant amount of my capital on an exchange such as TO and wouldn’t want the CC to do that either.
In summary, I think that Grin’s low liquidity is a symptom rather than a cause. It’s possible that increasing liquidity could increase volume but doing that on only two exchanges is very risky. If a reliable DEX was in operation, I’d certainly be interested.
Honestly, I’m totally fine with yall completely abandoning grin on the open market. This lack of liquify has been a huge boon to me personally, I dunno what I was thinking trying to bring some price stability to grin - the more volatile, the more profitable it is for the market maker - as for the traders, they are wisely steering clear of grin.
Good luck cc, yall got no developers, no liquid, no nothing, yall don’t Even have any grin so stop acting like you have any liquidity to provide anyways .How much grin does the cc have on its balance? Thought so, just another pretender.
I do love the naivety of these cc and oc groups, the self proclaimed leaders of grin, yall do know that music producers buy their own albums to make it to the top of the charts right? News flash, you either play the game or get played by it - grin is getting absolutely destroyed by yall community members sitting on your hands holding grin back! Anyone who truly believes in this project would want the world to know about it, that means paying for ads. What good is your funds if yall can’t even keep one developer on board or even finish one project let alone support grin on the open markets.
Time to close this topic. Repeating argument and going in circles is rather useless. You asked, we discussed and you have your answer.
Summary
Liquidity is important, does the CC agree. Yes, but low liquidity at any price is a sign the market does not support that price.
Does the CC want to use CC funds for market making by giving some to @syntaxjak to play market maker No, it is against CC spending guidelines to influence the market in any way and we prefer a decentralized approach where community members do the market making with their own funds and where CC funds are not exposed to risk.
.
Just do it jourself with your funds and earn in the process, that is best and the truly decentralised way of doing things.
