Re: grin is now accepted for forum payments

We saw Grin jump from $3 to over $200 on this announcement.

Incorrect. A couple of coins exchanged for extremely small amounts of money (I'm talking $20.00 worth of bitcoins for some grin at ridiculous prices) doesn't mean you or I could have actually sold at $200. Maybe one person sold 0.1 grin for that price. Great for them. Also, even if there was significantly more volume, on day 2 (after the 1440 block waiting period for coinbase transactions) the price would have ended up tanking just the same. Btw, the price started at $200 and dropped like a rock. Where are you seeing a pump from $3.00 to $200.00?

The grin community was already aware that Theymos liked it because of his post in the ANN thread. The technology is amazing. I'd suggest doing a little research. It's not bitcoin with a fancy hat and a new name, it's a brand new coin with brand new untested tech. Even if this impliment fails I think mimblewimble is here to stay (even if not in this exact form). Saying that this announcement somehow caused hype is hilarious. Why wouldn't the other post cause this amazing hype?

Lastly, how many grin do you really think bitcointalk has gotten from this so far? I doubt it's creating the amount of hype that you're talking about. I'm all for a 6666.66% pump, but it's not going to happen because Theymos decided to accept grin for copper membership etc. You and I both know that.

If he's wrong about grin I guess you're going to start a lawsuit right? That's the only sensible thing to do. /s

The actual "pump and dump" might be overstated by the graphs, but where would it be trading without the announcement? Probably not at $4. Do you seriously think that an announcement from the largest and longest standing crypto community that they are, for the first time, supporting an altcoin for payments isn't a big deal?

I've actually taken some time to research Grin and have been familiar with MimbleWimble. MimbleWimble is cool and different: a lot of the other peculiarities are garbage. I mentioned this in the ann thread, but it makes no fundamental sense why a pure privacy coin should have an infinite supply. That debate is neither here nor there.

The sentiment that "every altcoin is a Bitcoin clone but this one!!" is complete garbage. Sure, 99% of altcoins are garbage, but that 1% still accounts for dozens of new and unique projects. The idea that new tech means it's worthwhile is silly as well. What about EOS? Really a joke of a project, but fits the fundamentals shared by Theymos and others as being worthwhile and different. It's built from the ground up, uses a system of governance and delegation, and redistributes the burden of use of the network. This is all quite different from Bitcoin. Why not add EOS as well?

Saying everything is stupid and a clone is a massive oversight of the development in the space for the past few years. That sentiment was valid until 2013~.

I feel like the price will continue going down slowly over time so it doesn't really matter if it's $1, $5 or $10 today. I'm not that short sighted.

EOS is basically Ripple with smart contracts. It's the complete and total opposite type of governance than any cypherpunk project. Not exactly your best argument. On-chain Censorship isn't a feature and if EOS was accepted here I'd be extremely concerned.

Forking Bitcoin and making it more private, more fungible, adding smart contracts, asset layers - whatever it may be, they all basically function the same way. Sure there are little wins here and there, but they can easily be added to Bitcoin if they're a viable soution. Mimblewimble is fundamentally different and will be interesting to watch in the future. Grin's devs thought of the most fair way to launch the coin and the most fair way to distribute them. Do I agree with the infinite supply? Hell no. But it sounds like a 9/10 for me vs. beam which is 1/10 (mimblewimble). It's all an experiment, but I'd rather be part of this experiment than some half-baked idea that's just taking the old tech and slapping someone on it. It's boring, it's uncreative and it's not going to wow anyone. Mimblewimble (and thus grin) wows me. Apparently it also wows Theymos and lots of others in the community.

You don't have to like it, but it's already happened so you do need to get over it.

I, too, would be extremely concerned if EOS were accepted here. It's an awful project. But- it's different. According to Theymos that's the number one indicator of worth of an altcoin. The technical overlaps between EOS and Ripple are quite minimal... only overlap is they are both centralized.

Regardless, if anything that is blockchain is "just another Bitcoin clone" what about the dozens of coins that don't use a blockchain: IOTA uses tanglenet. NANO is DAG. Beam is MimbleWimble (how would you feel if we were having this conversation about Beam and Grin was the one left out?) Not to mention how shortsighted of an argument it is that blockchain = Bitcoin... a majority of the top alternative blockchains utilize consensus mechanisms far different from Bitcoin. Saying every altcoin is a BTC clone is ridiculously ignorant of the current state of the space and the direction it's gone over the past few years.

The point of having a discussion about this is because Theymos has been taking the authoritarian approach on various matters for years. We've been having the same conversation since Bitcoin XT (and probably earlier, tho I wasn't around for that). For people who actually care about decentralization, the role Theymos plays in the space is one of the biggest shortcomings throughout said space.

Since he has undivided control over the future of his own position, the only thing there is to do is talk about it.