Good question. One of our team members is talking with the GateHub team to see if we can get Grantcoin supported on their Ripple wallet and trading platform. We'll update the Grantcoin community when we know more.

The developers are still active and the Grantcoin Foundation nonprofit organization is still moving forward with its plans. Our team is continuing to work on making this coin a long-term success. In the near-term, there will be some significant announcements coming in the next few weeks.

There's a whitepaper on our website, grantcoin.org. The essence of the proof-of-participation concept as we envision it is to give a financial incentive in the form of Grantcoin to businesses to accept the currency. The incentive will be in the form of Grantcoin coupons to be passed on to the customer. So if the customer pays in Grantcoin, then they get 10% off or something like that. The discount is funded by the Grantcoin Foundation. So it's a way to incentivize businesses to accept the currency as a payment option, and to incentivize customers to pay with it.

Having said that, Grantcoin is in the process of going through a transition in strategy. We've recently decided to focus first on gaining users of Grantcoin in the charity sector. Once there are a lot of people using it as a way to give to charities on social media, then we will begin our outreach to businesses, because businesses will be more likely to accept the currency if there are already plenty of users. We think charities will be more willing to accept it at the beginning, because charities can receive donations of Grantcoin on Twitter without having to do anything. With businesses, there is the added requirement that the business implement a plugin to accept cryptocurrency in their e-commerce platform. So the charities may find it easier to embrace Grantcoin, and are therefore the first audience we will promote it to; then the businesses will come next.

The emphasis of the way we pitch Grantcoin will also be changed somewhat to reflect the focus on acquiring users in the charity sector. Significant marketing will be invested into reaching out to charities with our targeted pitch. Fortunately, Grantcoin has always had a focus on the philosophy of social and environmental responsibility, which fits well with a huge number of charities.

6 confirmations.


Thank you for your feedback and suggestion about Android wallet.

The store will start as a carefully curated selection of opportunities for people to spend Grantcoin, and also selected charities that will accept it too. Generally speaking, our philosophy for developing the store will be to begin with product areas that are easier to deal with as a merchant, such as things that can be sold digitally or based on a vendor-direct business model, rather than handling inventory and shipping. We will start in a simple way and hopefully add more product categories later on, after the store demonstrates success.

We'll be putting out an announcement with some overall info about the store within the next few days. We're hoping to launch it within a couple of months.

A few other coins have also done it with Twitter, but Grantcoin has improved the details of implementation so that tweeting coins is more intuitive and easily understandable for users, especially for people not familiar yet with crypto.

Also, an app like this fits perfectly with the overall concept of Grantcoin, and even the name of our currency. If you want to send a micro-grant of some money on social media, might as well send (a) grant (of) coin, i.e. @SendGrantcoin. And Grantcoin is primarily issued into circulation as philanthropic grants, so both on the macro and micro level this coin is perfectly suited for "paying it forward" on social media, to charities, or to anyone you think is #grantworthy.

As National mentioned, this Twitter wallet app is a great marketing tool, and the Grantcoin Foundation and our team members will be making heavy use of it for this purpose, getting the word out about Grantcoin to thousands and thousands of people, giving worthy recipients small amounts of GRT to spark their curiosity and interest. Hopefully many will start using the currency. We'll also be launching an online store in the next couple of months where people will be able to spend it, so that will increase the utility of the grants that people receive through Twitter.

I think there are so many unknowns about how this project will develop, where the demand will come from, how much demand will emerge for this currency, and how quickly that will happen, that it would be presumptuous of our team to try to specify an end goal value. JMHO.


We're not claiming it will replace fiats. We're just trying to create a currency that will be an alternative for people to use, if they agree with our ideas about how to create a better monetary system.

Trying to peg the value of a currency to the price of a fiat currency is challenging at best. Even governments that try to do this sometimes have trouble maintaining a specific set value for their currency, because the natural forces of supply and demand are always going to tend to move the price around. To maintain a set price, an institution has to be constantly issuing or removing currency from circulation to compensate for the fluctuating effects of supply and demand. The Grantcoin Foundation doesn't have the staff, funding, experience in monetary policy, etc., to try to do that. We have to just let the free market set the price of our currency, like with most currencies in the world.


You're assuming that people won't want to trade with a currency that has a humanitarian agenda. The Grantcoin team starts from the opposite assumption, that the *only* type of alternative currency that a large number of people would ever want to use, if they're inclined to bother to use something else besides the fiat currency they would normally use, is a currency which is designed to do social good.

Let's ask ourselves why 99.9% of the world's population hasn't chosen to start using Bitcoin, even though most people by now know about it. My guess is that it's because Bitcoin doesn't appeal to the billions of suffering people in the world by providing them with access to capital. It's not designed to do that. It's a hoarding-oriented currency, with no program for issuance of the token to get it into the hands of the poor and provide them with economic opportunity.

The only way that "regular people" are ever going to get into crypto is through a crypto that actually helps them, not one that is primarily owned by a small number of techie early adopters and doesn't distribute the money supply to people who need access to capital. JMHO.


Trying to build a better alternative to the existing monetary system is the primary purpose of Grantcoin. We've been clear about that from the beginning.


I will agree that dollar parity would certainly be convenient for users. But how would we actually accomplish that, without having to constantly try to manipulate the price through issuing and removing coins from circulation?

Yeah, no worries everyone, we won't let the coin get delisted. There are enough people who care about this coin's future and will either buy more or trade among ourselves to make sure that there's enough volume, during this very early stage when the coin is still only a couple months old.

Good points, Brandon.

The only thing I would add to what Brandon already said is that the founders of the Grantcoin Foundation have talked about 50 satoshis as sort of a baseline price that we want the currency to be able to maintain and not go below it. There's no official policy to that effect, but informally speaking, the people who are involved in managing this project will probably try to keep the value of GRT at or above that level unless there is huge dumping by other investors.

And, really, it wouldn't be that hard to maintain that price. Only about 17 million additional GRT is going to be produced through mining. At 50 satoshis, that's only about $2,500 in buying demand, total, that would have to exist to absorb those coins if all of them are dumped on the market by the miners.

Given how little money it would take flowing into this coin to hold the current price until Proof-of-Stake begins and the inflation rate drops to a very low level, I don't think it makes sense for people to worry about the price. If you're looking for a quick pump and exit, then maybe this coin isn't for you. If you're looking to invest in a serious project with long-term potential, then this is one of the few coins with that philosophy.


Just to clarify, I didn't say that "no more coins" will be released until the value increases greatly. Some more coins will be released as grants, even in the near future, but we're not talking about huge amounts of coins. And the grants will mostly be given to people, businesses and organizations that are helping the Grantcoin project in some way, helping to give the coin more utility and value. Some micro-grants (a few thousand GRT per person) will also be given to people as coupons to attract customers to shop in the online store we will soon be launching, which will give people incentive to pay in Grantcoin.

We didn't actually burn any coins, but we cut the number of coins that will be sold by the Grantcoin Foundation on exchanges down to 100 million. They will be sold at specific prices from 50 satoshis to 5,000 satoshis (or approximate equivalent in other currencies), so most of these coins will not even enter circulation unless the price rises a lot from where it is now.

See the article we posted a few weeks ago:
http://www.grantcoin.org/2015/06/11/foundation-to-sell-less-grantcoin-provide-buy-support-focus-on-charity-and-e-commerce/

There are also coins being created through mining, and I think most of those are being sold on exchanges by the miners. So far, almost 20 million GRT has entered circulation in this way. The total GRT to be created through mining is about 37 million, something like that.

There is about 10 billion GRT total, most of which will eventually be released into circulation as grants, but that will take years and years to occur. We're not going to put a lot of coins out there unless/until there is significant investor demand to support it.

Hi dimox and kampretkabur,

Our team is continuing to post news and progress for the coin and the Foundation. We can't control who buys or who doesn't buy.

All I can say is that this coin is already more legitimate and meaningful than most of the other altcoins out there, and people just have to study it and read about what we're doing to find that out for themselves.

If people choose not to buy in this early stage, that's their choice, but I think it's a choice they might regret in the future, because the Grantcoin team is continuing to work hard to make this coin something special.

Thanks for your interest in Grantcoin, and we'll keep everyone informed of new developments on a regular basis.

Eric (founder/developer)

Yeah, the long term is what matters anyway. Grantcoin will be proof of stake by the end of this year, with very few new coins being produced from then on, so the people accumulating now are smart (if you believe this project is meaningful and has a bright future).

Grantcoin is doing well on social media, almost 3,000 followers on Twitter in 2 months, so there's plenty of people interested in this project and watching to see where it goes. Most coins can't say that they're getting much interest outside the altcoin trading community. Grantcoin is, so that bodes well for the long term potential.

As for the reward halving coming up in a few hundred blocks, with fewer GRT being created every day the selling pressure from miners who mine and sell should be reduced, which means it would take less buying each day to maintain the price. If the amount of buying demand per day stays the same as it has been, and there are half as many new coins being dumped onto the market per day, then in theory the price would rise compared to where it is now.

Of course this is assuming that a lot of miners are selling for BTC soon after they mine GRT rather than holding it for the long term. I think that's a safe assumption, since a lot of miners of altcoins convert them into BTC. There's probably also a significant percentage of our miners who are holding the GRT they mine for the long term (at least I hope so), but I would guess it's the minority, based on the selling that can be seen on the markets every day. This coin right now is in the phase where most of the buying action is just absorbing the new coins being produced from the high block reward. But that's not going to last forever.

Thanks for letting the community know.

We've been consistently processing withdrawals from Ripple Trade with a turnaround time of usually just a few hours or less.


I wish I could tell you the automated bridge was going to be done tomorrow, but unfortunately it's delayed. We're looking into maybe having our own developers build it instead of working with outside devs as we've been doing before. The delays are frustrating, but in the end we might actually save money by just doing it ourselves and getting some input as needed from our contacts at Ripple Labs.


Thanks, that would be great!

That's a good question, and thank you for asking it. The simple answer is that all currencies build their value based on people's belief in the ideas and institutions behind the currency. Is it a good way to have a monetary system which benefits people and creates a better economy? Are the people involved, and the organization(s) responsible for managing the currency, ethical, transparent and trustworthy? The more people who answer yes to these questions about a particular currency, the more demand for it will increase and it will gain value. This is called the network effect: the more people believing in something and using something, the more valuable and useful it becomes.

Here's a 3 minute clip from a recent interview in which I talk about what gives money its value: https://youtu.be/HyIW8ToQYCg

Having said that, the Grantcoin Foundation has plans to make Grantcoin more useful as a currency, regardless of how many other people believe in it. For example, we're going to be starting our own e-commerce store, selling a variety of products made by socially/environmentally responsible companies, in which people will be able to pay with Grantcoin.

A great new article about Grantcoin was published today on Bitcoinist.net.

Grantcoin: A Grant-based Digital Currency For a New World Economy

Here's an excerpt:


BTW, this article was NOT paid promotion. The author genuinely thinks that Grantcoin is newsworthy and she spent over an hour interviewing me on the phone for this article.

Thanks, we appreciate your help!

When I set it up on my phone I left the app open all night to download the blockchain. It's unfortunate that the download takes so long, but you can do it while you're sleeping and then it should be good to go.

Congrats SolarCoin community on the big price move.

I didn't see a news release from the team. Does anyone know what triggered the sudden huge volume and price spike?

Glad to hear it. Thanks for posting that you found a solution! I guess if anyone else experiences the same issue, try what chey did.

Attention Grantcoin community:

I'm the dev of Grantcoin. A forum administrator has deleted two of my posts in this forum and informed me that they were deleted. One of them was me thanking kevin1234a who listened to my recent interview on Bitcoins and Gravy and said he thought our team did a good job. Another one was to welcome jepistons to this thread whom I knew before from my work in SolarCoin and who recently came here and expressed support for Grantcoin.

The posts by kevin1234a and jepistons, which I was responding to, were also deleted by Bitcointalk forum admins.

I made further inquiry to the admin and was told that somebody probably reported these posts and that they may have been perceived as an attempt to bump this thread with insubstantial posting.

It seems that some user(s) on this website, probably from competing coins, are trying hard to reduce the attention that Grantcoin will get here, by asking admins to delete our community members' posts. If users can't express their support for the Grantcoin project without having their posts deleted, then this thread doesn't provide an accurate perception of the level of interest in Grantcoin among the altcoin community. Also, if posts are going to be frequently deleted by admins, then it would make it difficult for this forum to function as a general gathering-place for the Grantcoin community.

The Grantcoin team will have to give further thought to how we will be using Bitcointalk from now on. Perhaps this venue will be primarily used as a place to make announcements, and we might look for a different venue for general Grantcoin community discussion, which would be uncensored.

We apologize for the deleted posts. There appears to be nothing we can do about it.

Eric Stetson
Executive Director
The Grantcoin Foundation

Good that you're on the current block.

In the .conf file for my test daemon I only have the following:

rpcuser=x
rpcpassword=x
gen=0

If you want it to mine, then change to gen=1

I'm not sure if deleting daemon=1 and server=1 would make any difference, but maybe give that a try, restart it and see if it'll connect to the 2 seed nodes.

BTW, is your node at this IP address? 76.90.105.71. The reason I ask is because that's listed as the node of a wallet which is Protocol 0, a nonexistent version of Grantcoin, on this page: https://chainz.cryptoid.info/grt/#!network. If so, then maybe something went wrong in your build? Even if it says you're running protocol 60004, maybe somehow the network is not finding your wallet correctly? Just thought I'd ask if that IP address is yours.