I do not agree. The fact that block rewards are fixed isn’t the only reason for fairness. A future project might get more attention if it shows Grin’s history, reduces inflation as I showed for the first 1-2 years, and then moves on to a fixed block reward. Then it may not have a structure like Grin where 95% people leave the project. The development process may go faster. It doesn’t stay with a single core developer. Sometimes alone. It’s important to note that Grin’s daily block rewards are as low as $3,000. For this project, it is the line between death and life.
Looking at what Ignotus has said in the past, he states that Grin’s inflation was not much different from Bitcoin for the first 8 years. What that means is that Ignotus didn’t expect Grin to fall so radically.
Also, in the past 4.5 years, Grin has lagged behind many networks. In the next 5.5 years, we will see together how TPS, scalability and privacy will be in the development process in other networks. Grin may fall far behind these.
Some people go, new people join, that is normal. Interestingly, the annual user growth ( ≈ 25%) in the number of forum users is already in balance with Grins current inflation (22%). Meaning if users represent demand, we can expect an approximate equilibrium between supply and demand and the Grin price might become relatively stable in the coming years.
If you ask me Grin is exactly where it is supposed to be in terms of price .
No, he did not say anywhere Grins price would not drop. He simply stated a fact. That is probably just an assumption you made… If you made a bet that Grin’s price would not to drop in the first years, you made a very wrong bet. And that is on you.
If you want time synchronized currency, you have to pick a point in time from which you start counting seconds. Using seconds from the past would be equal to a premine which I don’t find fair. The only fair way I see is to pick a time in the future and start counting from there. That point is the genesis block.
There’s no way for them to know what will happen because it’s never been tried before. You simply have to run the experiment “for decades to come”. It’s the first for humanity of such kind that I know of and even if it fails, it was worth trying.
Name one monetary network that implements supply as a clock and hence money as time. I don’t know of any serious attempts apart from this one.
People tend to compare projects based on the features they offer like TPS, privacy etc… It’s easy to forget they’re monetary experiments and perhaps should be compared based on what kind of monetary experiment they are:
I see these three categories as completely different monetary experiments. One is capped scarcity, the other is uncapped and somewhat arbitrary and the last one is as scarce as time. All three are interesting, but I think hardcap and timecap are especially new to humanity and both worth pushing to their limits. It’s impossible to know what will be used in 20 years which is why they’re labeled as experiments.
If we are talking about Grin´s price movements, yes we see 50% down in the last 3 months. But thats not only Grin, many alt-coins dropped.
We can also see that many people believe in Grin duo to the miners hashrate. Currently miners do not get paid well for their job - but the hashrate still highly exists.
And do not forget Grin has no foundation.
Grin is a very solid project and perfect for anonymous transactions.
Lets see what happens - stay cool with Grin.
Mainnet development is almost over.
On the other hand, look at Mina, look at Kaspa, look at Layer 2s. Grin has an infrastructure that can’t compete with any of them. In the next 5.5 years will be better these at least 3-4 times but probably Grin will be same.
In other projects, the number of main core developer was never radically reduce and development was not finished. Even Beam has been developed in more directions than Grin. You guys still see Grin in very different spots.
There are now more scalable, faster and more private networks. There will be more and more.
Therefore, the fixed block rewards, which you see as success, reduced the price, reduced network hashrate-security and weakened the strength of the project. If there was a little protection mechanism, Grin’s development could continue at full speed. It is very sad that this is still not understood.
Do not ignore the possibility of the experiment failing. Good lucks.
Failure is totally okay. Seriously, it’s fine.
If Grin fails, then it fails.
It’s the only crypto project I’ll ever invest in.
Failure is fine. Sometimes, failure can actually be a good thing. I personally don’t want Grin to become as big as Bitcoin or used by everyone in the world.
Seriously speaking grin is not good investment!
It’s literally does say on the main page
It’s very young and experimental. Use at your own risk!
Yeah, that’s true, but no ideas why it got delisted from Binance and price dropped sometimes lower than Grin.
P/S: I know your account since 2019 and saw you spent much time for Grin, I could understand the pain when price is going down and community is not going as you expected. Maybe, you just need to change the view to see Grin as an entertaining/non-serious project to keep your mind in peace.
If all this is true and these projects are simply better, then how would Grin changing it’s emission schedule now make it anymore appealing when all these other projects already have the emissions schedule you desire? Seems more like the Grin’s emission schedule is what makes it stand out at this point.
I’m not talking about now. I’m pointing out the wrong start.
If Grin had a structure that reduced inflation in the first years, the hype on it would not go away and could be developed to compete with them now.
Price fell, interesting decreased, development is over, volume decreased and delisted on 95% market. Currently there is only one core developer. People here still think that when Grin’s inflation drops, Grin will be unique, it’ll be hard to imitate it but imo no one will try this inflation model again, no one understand this. No need to try it again because the first 4.5 years took everything to the bottom. Also, no need to defend this inflation model because it is unstable like Bitcoin. There is no stability just incredibly falling. Knowing this, who will copy this inflation model? No one.
I do not think Igno’s intention was to create a hype coin.
Less so than Bitcoin or most other projects. Grin is the epitome of simplicity, a linear supply, what is there not get about that?
It falls…until it does not. Again, completely predictable. I do not know what the purpose is of these kind of posts. Is it A) you want compensation for lost investments? Or B) you want to try to decrease the price so you can stock up. Or C) some motive which you are not revealing?
You are a smart guy. I would find it incredibly hard to believe that you did not completely expect the Grin price to drop in the first year as anyone predicted it would.
Completely irrelevant. Who cares who does or does not copy Grin? Grin is unique and the first mover on being a ‘time-coin’, which only strengthens its use case, not weakens it. I think there will be few projects who would copy this model and that again only makes Grin more valuable.
Some good arguments I have read in the replies so far, Ill just add my two cents:
-I have a good feeling about PoW, I mean look at BTC half the market cap by a PoW coin. Also, In the USA many PoS are going to be deemed securities and delisted and who knows what else…
-Second, sure why not? As someone pointed out a third party can create a PoS project. This project can use Grin to give a real underlying value to its tokens.
-The big question is: Will Doge move to PoS? If this happens it will be a good experiment!
-The price of Grin has dropped. Excellent!! Great opportunity to buy some before the price goes back up
I could say ‘You’re the change that you need’.
If you feel you can contribute something for GRIN with your expertise, try to do it.
Though I see GRIN got several issues, I still run marketing for it as far as I can.
You know @Anynomous I don’t know what to say to you. Unfortunatelly, you don’t understand anything. Also, you never change so I m sure you won’t understand again. The inflation mode what I’m showing creates a hype coin? What are you talking about? Take a pen and paper and write this page. Try to understand.
Is it predictable that Grin’s market cap will drop to $5 million and block rewards drop to $3,000? Are you kidding or something? It is not predictable for a fully decentralized and special cryptocurrency to drop this low. We could have predicted it to stop at $0.xx. Not $0.0x.
You can only sustain this inflation model with a serious foundation. The first, only, and last example of this is Grin but it’s stand so hardly too.
If Ignotus had known that Grin would drop this much, he never tell only %33 difference between Grin and Bitcoin in the 8 years. He spoke as don’t exaggerate too much. We’re down to $5 million. We won’t still exaggerate? Maybe we should wait $500k marketcap?
While you may be happy that Grin is unique, over the past 4.5 years, other cryptocurrencies have evolved much more than Grin. Now there are dozens of more scalable, faster, cheaper networks. What happened to Grin? Almost all the developers left. For 4.5 years, even Grin++ gives error sometimes. What are you talking about? It was delisted from all exchanges. 95% of the money of the unconscious investors melted.
There is nothing positive.
Now you need to see how the thing you’re advocating put the project back down. In fairness, Grin wouldn’t have taken such a hit if slightly less inflationary money had been created. Mind you, I’m not saying hype coin. This also would made push Grin future more strong.
Finally @Anynomous , what I’ve said is all true. I say again, all. However what you talk is just a possibility and still not happened. Don’t forget this point when you are talking.
There is no other community that is so closed to criticism, introverted and does not follow what is happening outside. I suggest all you guys raise your head a little and look outside.
Kaspa, one of the most innovative POW projects, has announced a bridgeable token to the Ethereum network. How many people know about this development? I was talking here about about it, and they did it when i talk. Kaspa is trying to do 6 blocks in 1 second. It’s trying to connect a bunch of Dapps to the network. How many people know about them? When we talk, all you guys are POW supporter. Isn’t it?
We’re still in 60 seconds, right? Our TPS is very low. The probability of Dapp is next to impossible in the next 5.5 years. The probability of the stock market to list is close to zero. No volume, no transactions, no talking. How many people are willing to wait minumum 120 seconds while other coins pay instantly and pay with your dream Grin?
Instead of liking unrealized possibilities, look at realities that have happened. If there is no criticism, there is no development. What does not progress is doomed to die.
Don’t worry, it will be solved by Payment Channel Hubs, that requires relative timelocks, everything is in deep Research And Development, Grin is not “get rich quick” or hype coin, our approach is scientific.
Unlike you, Igno was not preoccupied with price and marketcap. Igno was more occupied with making the simplest possible money.
Unlike all other coins, Grin is made for future generations, not to benefit the current generation and least of all to “protect early investors”. It was Igno who proposed the pure linear emission as the epitome of simplicity and fairness.
More scalable as in allowing such fast chain growth that simple hardware on low bandwidth can’t keep up and takes forever to sync?
Faster as in almost as fast as payment channels that Grin can support?
Cheaper as in setting fees so low that the chain is overrun with spam (see nano/zcash)?
.
that Grin’s price would not to drop in the first years, you made a very wrong bet. And that is on you.