Imagine if you had the ability to go back in time and become one of the first people in the world to mine an experimental piece of technology called Bitcoin. Would you do it? Well, you might potentially have your shot with Grin (GRIN) coin.
Grin Coin Could Revive GPU Mining
Lately, Grin has been generating a lot of excitement in the crypto community and it, along with MimbleWimble, might signal the revival of GPU mining. It has been in the works since late 2016 and it is a fully donations-based project that was launched fairly. It is not an ICO, it is not pre-mined and it doesn’t have founders rewards. In a lot of.investors’ minds it kind of pattern-matches to a bitcoin 2.0
In short – Grin is a privacy coin that uses the MimbleWimble blockchain protocol. A coin with no amounts, no addresses, and it scales by leveraging cryptography to allow most of its past transaction data to be removed.
Listed on KuCoin Exchange
We can only speculate on what comes next, but if Grin follows a path to other mineable cryptocurrencies such as Ravencoin we could see a Binance listing earlier rather than later.
Meant for Spending Not HODL’ing?
However, it should be noted that Grin has its own downsides. It is highly inflationary, especially in its early years. There is literally one Grin coin mined every second. It’s actually a block per minute containing 60 coins. There will be no adjustments to the supply, no maximum cap, nor will there be any deflationary halving events to look forward to. In a sense, Grin is designed to be a private digital currency not a deflationary store of value.
Currently Available at a 97% Discount
Grin’s emission is interesting, to say the least. With an infinite amount of coins and a linear supply schedule, it will mean that it will remain under extreme amounts of sell pressure in its early days. The initial surge spiked the coin’s value to as much as $261, which was quickly brought down to the ground by crypto miners. At the time of this writing, you can buy Grin (GRIN) at a 97% discount via Kucoin, currently trading at $4.40.
Right now, Grin seems to be following a similar pattern to Ravencoin. Another mineable cryptocurrency with huger initial inflation that managed to break out of its slump with a vengeance as well as eventually being listed on Binance. It’s logical to assume that Grin (GRIN) could follow a very similar path as well.
As far as mining is concerned there is still an opportunity for first-movers to take advantage of the high rewards from early mining. Just as long as you have the right hardware of course. If you’re not in a position to mine coin you can still pick up some Grin (GRIN) at a relatively cheap price via an exchange.
Overall, if you’re looking for a get rich quick altcoin then Grin (GRIN) is probably not for you. Grin was launched on Jan. 15th 2019. It’s still a very young and experimental implementation of blockchain technology but so was bitcoin at one time. If you feel confident a 97% is as good of an opportunity to pick up a few Grin (GRIN) at Kucoin.
It might not be Bitcoin, but it just might pay off in the long run.