Quote from: Welsh on May 19, 2021, 08:35:48 AM

Quote from: mindrust on May 10, 2021, 01:17:40 PM

Dang. I guess I became a bag holder too now. R.I.P my half of an iphone money. :p

Anyway I trust theymos's vision. See you in 2-3 years again.

What exactly is his vision, because going by his reply here:

Quote from: theymos on January 16, 2019, 06:06:15 PM

IMO in 10 years:
- 30% chance grin is defunct, but roughly the same basic features are provided by other BTC-based off-chain systems such as LN.
- 25% chance grin is defunct, but basically the same thing exists as a widely-used Bitcoin sidechain.
- 15% chance BTC is the main store of value in crypto, while grin or a very similar altcoin is used for most daily payments.
- 1% chance grin advances significantly, and combined with its first-to-market advantage vis-á-vis its innovations, it out-competes BTC entirely.
- 14% chance some other altcoin out-competes BTC entirely. It won't be one of the existing ones, except perhaps grin as mentioned above.
- 15% chance global authoritarianism makes it very difficult to use cryptocurrencies at all, and the whole sector is reduced to a tiny niche.

His vision on a statistical sense, is that Grin is more likely to fail, than it is to succeed, and by succeed I mean out compete existing cryptocurrencies. Whether that is because of authoritarianism or an alternative is provided on a Bitcoin sidechain Obviously, we all like Grin as it definitely is one of the better alternatives out there, but blindly trusting anyone's vision isn't the best idea in my opinion.

You could argue that; a global authority, has already limited privacy coins by removing them from the most popular exchanges. That could potentially be argued as a global authority, although I do believe theymos likely had bigger authority figures in mind when he made this prediction.

My personal input is; I believe there's definitely money to be made in Grin, but I'm not convinced that it will out compete Bitcoin. I do believe, combining Bitcoin, and Grin's most exciting features could lead to a better alternative to both.

Quote from: Texacha on May 15, 2021, 12:51:09 PM

True, but again, where did DOGE pump come from? Good fundamentals and decentralization? Nope. It was again one man show, in this case by Elon Musk. In other cases it could be CZ or back in 2017 John McAfee. When something depends oo one man (not even one company or board of directors, but one man), it can't be more centralized.

Lets not pretend that if Grin had received a similar reception among celebrities, it would have had the exact same impact. No industry is immune to the herd mentality that these authority figures create.

We simply can't effectively reduce the influence that people have on others, so centralization in that aspect will always be prevalent.

SNtoshi

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