Due to the low-threshold mining settings of Grin and the mining mode, many new miners flooded in and shared the cake of Grin with the old miners.

The spirit of Grin's decentralization is a clear stream in the blockchain world, and it is also a handful of hot carbon in the bear market, which makes the mining and currency circles at the end of the year a little hot.

secondary title

a grenade

The mining circle hasn't been this lively for a long time.

Bixin, Shuangyou and other major mining pools have created new communication groups about Grin. Every day, a group of new miners twittering influx, and every day the group staged irregular questions and answers, full of an atmosphere of seeking knowledge.

All because of the emergence of Grin, Grin is a smiley currency, and the bottom layer adopts the Mimblewimble protocol. Because of the anonymity of the publisher and the technical characteristics of privacy and lightness, Grin is known as a new generation of privacy currency or even Bitcoin 2.0.

Grin has no ICO, no pre-mining and does not accept investment. More importantly, everyone can only obtain Grin in the form of mining. It adopts an unlimited supply model and linear release, with an average output of 1 block per minute .

This means that both institutions and individual retail investors stand on the same starting line and compete with each other with the computing power of mining machines.

Grin is like a grenade, thrown into the water that has been silent for a long time, stirring up and even detonating the entire blockchain world

According to a document called "Grin Mining Tutorial" circulated on the Internet, the hard requirements for mining Grin are Windows, Mac systems, and Linux operating systems, and a minimum of 4G video memory is supported. N cards are more efficient than A cards, and A cards are not currently supported. Card - 470G.

At 11:00 p.m. on January 15th, Beijing time, the Grin mainnet was launched, and several major mining pools such as F2Pool and Xinghuo Mining Pool have already announced their support for Grin mining, and everything is ready to go.

At this time, the Grin miners have already prepared and are waiting to dig out the first block. This scenario played out many times over the careers of these miners.

Rong Bing, the co-founder of Honeycomb Mining Machine, said that he can clearly feel the influence of Grin in terms of market sentiment. Basically, the graphics card miners they host have notified that they will switch to mine Grin.

In the eyes of graphics card miners, GPU mining machines are divided into two types: A card (AMD’s graphics card) and N card (NVIDIA’s graphics card). Compared with the former, the latter has more advantages in computing power and power consumption but is more expensive. A second-hand N card costs tens of thousands (the market price of a second-hand NVIDIA 1080Ti is 8,000 yuan), while the market price of a second-hand A card is about 300 yuan.

According to the calculation of the rating agency TokenInsight, for the Grin project, it is almost impossible to recover the cost if a new mining machine is purchased. This has resulted in a majority of Grin miners being older miners.

The founder of F2Pool "Shenyu" once put his own 10,000 N cards into Grin mining. These 10,000 graphics cards have already recovered their cost by mining other currencies, and the current consumption is "only electricity bills".

Most new miners choose amateur mining or rent computing power.

Wang Shuai, the founder of Block Rhythm, placed an NVIDIA 1080Ti mining machine next to his workstation in the office, and within a week after the Grin mainnet went live, he could dig out an average of 1 Grin per day. He has never been engaged in mining other currencies before, just enjoying the fun of mining Grin.

Shen Weipeng (pseudonym), the owner of the mine, revealed to Odaily that a customer had been looking for an A-card mining machine for a long time but failed, so he had to find himself to rent 5,000 A-card mining machines to mine Grin. money price) lease.

secondary title

Grin effect

"GPU miners are the least loyal. They can mine any currency, and the higher the currency price, the higher the mining price." Captain Yu, the head of the Mining Sea Association, told Odaily that he is not optimistic about Grin. Many people came to find rental mining machines to mine Grin, but he thought it was troublesome and refused.

In Captain Yu's view, Grin is an "old coin" that has been out for a long time, and behind the sudden hype, there are hidden secrets.

But the emergence of Grin or Grin does release a hope for graphics card mining machines, especially N card mining machines.

Miner Wu Zhongming (pseudonym) has deployed 70 N-card mining machines. On average, each mining machine can mine 1.3 Grin per day. When the currency price is between 60 and 100, 800 Grin have been produced successively, which is much more profitable than other coins.

Wu Zhongming is optimistic about Grin's technology and the fundamental spirit of Bitcoin. He also revealed that once the price of Grin currency drops to a point where the income is not as good as other currencies, he will also switch computing power to mine higher-yielding currencies.

"Miners are probably the most practical and profit-seeking people in the blockchain world." Liu Fang, a miner, revealed that she entered the mining circle to make money, not for other reasons.

These miners are more direct and pragmatic than ICO projects under the guise of a technological revolution.

The appearance of Grin reproduces this.

At a mining seminar on the afternoon of January 17, Shenyu revealed that the income from mining Grin was 10 times that of Ethereum, which led many N card miners to turn to Grin. At that time, the price of Grin on the exchange was $14 (Mytoken data).

Shenyu sold 100,000 Ethereum at the price of 20 yuan in early 2016, earning more than 2 million. Later, the highest price of Ethereum was 120,000. According to theoretical calculations, Shenyu earned more than 2 billion less.

On January 18, Shenyu revealed to Odaily that in order to avoid a repeat of "missing Ethereum", he will not sell Grin anymore.

Three days later, Shenyu revealed that it was not suitable to hoard Grin in the early stage, and it was already shipping. At this point, the price of Grin fell back to $3.

According to Feixiaohao data, at 8 am on January 28, the price of Grin rose to $13.37, an increase of 421.19% on the 7th. For a while, the mood of the miners was stirred up again.

Wu Zhongming's feedback on this is "(the currency price) was pulled too early, how much has been dug up." In Ge Fang’s view, Grin still seems to be a manageable project, just like many previous projects, Monero, AE, Zcash, BTM…

On the other hand, as the currency price began to increase on January 24, the cumulative difficulty increased sharply, which shows that the computing power is increasing and miners are entering the market one after another.

secondary title

Grin, the next Bitcoin?

In the eyes of many people who have been in contact with Grin, Grin is undoubtedly the revival of Bitcoin fundamentalism—no ICO, anonymous promoters, and the core team does not accept investment. Even the mining selection once referred to Bitcoin’s develop.

It is reported that the Grin core development team initially considered completely anti-ASIC, but after communicating with ASIC developers, they found that they hoped to change from anti-ASIC to ASIC-from the initial 90% GPU+ 10% ASIC transition to 100% ASIC.

And this process coincides with the development of bitcoin mining. You must know that before the emergence of ant mining machines, bitcoin miners also relied on computer graphics cards for mining.

Before the core essence emerges, everyone's reference standard for Grin is its high yield, but the early high inflation rate brought about by its issuance mechanism has brought a lot of resistance to the development of Grin.

There are two distinct factions in the mining circle: Grin and anti-Grin.

Wu Gang, the founder of Bixin, said on the social platform: "Grin is a currency with a fixed output every day. The best entry point is not now, but when it is needed, because Grin is infinitely produced. The unlimited supply model will make Grin truly becomes a decentralized stablecoin.”

The author of the Yanmao miner "absolutely only" said that according to his observation, the income of any currency including Grin will not be much different from other currencies, otherwise other currencies will be "cool", "so in the end the new currency Basically, it will fall back to the same standard as other currencies.”

And BTC.TOP Jiang Zhuoer told reporters that anonymity has always been the goal of anarchists and hackers, but this is not just what the market needs. Compared with BTC, Grin’s slight advantage in anonymity is not enough to offset the scale of the currency. and a huge disadvantage in mobility.

image description

(According to a picture circulated in the miners’ group, Grin and Beam are still the choice of miners to pursue income)

In the financial market, there is a term called "value return", which refers to the process in which the stock index or stock price drops to its intrinsic value after the stock index or stock price deviates seriously from its intrinsic value.

And Grin will "return value", falling back to where it belongs. At 7 am on January 30, the price of Grin was $8.45, a 24% drop in 24 hours. It is foreseeable that the price of Grin will fluctuate for a period of time in the future, which will shake the mood of miners.

“I think Grin can reach CoinMarketCap’s top 20 within a year.” An industry insider who asked not to be named said, “Just look at how rubbish the top 20 coins are now.”

On the other hand, mining machine manufacturers are closely developing Grin mining machines.

On January 29, Innosilicon, a mining machine manufacturer, said that it will launch a Grin mining machine this summer. Previously, mining machine manufacturers Obelisk and Innosilicon also announced the development of Grin's ASIC mining machine.

Behind this action, it indicates that the computing power war on Grin is about to be staged. I don’t know who will become the next Bitmain. Will it repeat the fate of rapid rise and fall?

(I am the author Dave, you can add WeChat davesilly for blockchain reporting/communication, please note your position and reason)

(I am the author Dave, you can add WeChat davesilly for blockchain reporting/communication, please note your position and reason)