[ANN] BitGrin (XBG) – MimbleWimble with Bitcoin economics – Windows wallet! - page 11.

holydarkness

legendary

Activity: 2632

Merit: 1462

Yes, I'm an asshole

Quote from: BitGrin on January 31, 2019, 02:07:42 PM

Quote from: holydarkness on January 31, 2019, 02:05:09 PM

I would assume the extremely low supply is for the sake of creating demands and scarcity? On my previous experience with very low supply token, they will still find it difficult to appeal community without real purpose and good liquidity. Or is there an use of the token other than for trading purpose?

This is explained here https://twitter.com/BitGrin/status/1091049780766072832

Which didn't really answer my question about a purpose or a solution for today's market, if I'm not missing anything. Or do I understand your tweets wrongly? There were only two tweets, actually. Maybe you better give proper explanation here, that'll help both of us saving some time.

spuddyminer

copper member

Activity: 9

Merit: 0

Hello! Great idea. How will the project development be funded?

BitGrin

jr. member

Activity: 45

Merit: 11

Quote from: holydarkness on January 31, 2019, 02:05:09 PM

I would assume the extremely low supply is for the sake of creating demands and scarcity? On my previous experience with very low supply token, they will still find it difficult to appeal community without real purpose and good liquidity. Or is there an use of the token other than for trading purpose?

This is explained here https://twitter.com/BitGrin/status/1091049780766072832

holydarkness

legendary

Activity: 2632

Merit: 1462

Yes, I'm an asshole

I would assume the extremely low supply is for the sake of creating demands and scarcity? On my previous experience with very low supply token, they will still find it difficult to appeal community without real purpose and good liquidity. Or is there an use of the token other than for trading purpose?

dishku

legendary

Activity: 1918

Merit: 1003

Official website contains some weird images which making this fun coin as well as name also looking funny. I hope you would not created this coin to take the advantage of the hype of Grin. You should have to improve the quality of official website and put more details there.

BitGrin

jr. member

Activity: 45

Merit: 11

Quote from: LennySands on January 31, 2019, 01:51:21 PM

So it's exactly the same inflation rate for the first 4 years. In that case why didn't you fork grin in 4 years? Oh wait you couldn't premine then

The monetary policy is exactly the same as Bitcoin's, which halves every 4 years. There is no premine on this coin, the mainnet/genesis block will not be produced until everyone can participate in the initial mining with pools.

LennySands

newbie

Activity: 7

Merit: 1

So it's exactly the same inflation rate for the first 4 years. In that case why didn't you fork grin in 4 years? Oh wait you couldn't premine then

BitGrin

jr. member

Activity: 45

Merit: 11

Quote from: pinoli on January 31, 2019, 01:33:14 PM

lol, you say 21.000.000 but that link says "about 31 500 000 000 Grin"
I am looking forward to look at the code, I am sure this will be completely different and original, right?

I believe you are looking at the comparison to Grin's growing supply, not BitGrin. Our code is available here: https://github.com/bitgrin/bitgrin/tree/testnet
You can specifically see our monetary policy is designed to match BTC monetary policy in this commit: https://github.com/bitgrin/bitgrin/commit/e0e486c16db581904dcefd62400e1b7eb6925c6b

pinoli

newbie

Activity: 15

Merit: 0

Quote from: BitGrin on January 31, 2019, 01:22:47 PM

https://bitgrin.io/wp-content/uploads/2019/01/logo.png

BitGrin is a implementation of MimbleWimble with time tested Bitcoin economics.
This means there will only ever be 21 000 000 total coins, reducing block reward every 4 years.
There will be only 21 000 000 BitGrin forever, period.

Visual representation here. https://bitgrin.io/comparision-of-emission/

Launch
BitGrin will launch it's mainnet after securing support from miners and pools.
Currently the target is to launch in 7 days, on February 7th, 2019.

Technical Parameters
Block time 60sec
Reward 5 BitGrin, reducing every 2 100 000 blocks (approximately 4 years)
PoW consensus with Cuckoo Cycle

BitGrin uses a very lightweight implementation of MimbleWimble, allowing every user to have complete privacy and anonymity. BitGrin is also very scalable thanks to our implementation of MimbleWimble we can achieve 60sec blocks while maintaining a lightweight blockchain.
BitGrin was built to follow the time-tested bitcoin economics to the letter, the max coin supply is 21 000 000. We added a flat-rate of 1BitGrin to be sent to developer wallets- effectively removing them from circulation- for the first 1 000 000 blocks, to closely imitate the economic circumstance of “satoshis coins”
BitGrin blockchain code, mining software code etc. Is completely open. This is an Open Source project, we encourage everyone to contribute and improve the code base, we also encourage every 3rd party in our ecosystem to do the same. Sharing is caring.
To ensure a fair launch BitGrin comes out with a “one-click” miner, so even non-technical users can immediately mine it and contribute in the economy.

Features of BitGrin

Anonymous transactions
Healthy economics
Open Source for All
PoW with Cuckoo Cycle consensus system
Highly Scalable

Additional Information
Website: https://www.bitgrin.io
Community telegram: http://t.me/bitgrincommunity
Github : https://github.com/bitgrin/bitgrin
Twitter : http://twittter.com/bitgrin

lol, you say 21.000.000 but that link says "about 31 500 000 000 Grin"
I am looking forward to look at the code, I am sure this will be completely different and original, right?

BitGrin

jr. member

Activity: 45

Merit: 11

BitGrin is a implementation of MimbleWimble with time tested Bitcoin economics.
This means there will only ever be 21,000,000 total coins, reducing block reward every 4 years.

Now listed on BitMesh and Vinex Exchange

Economics

There will be only 21,000,000 BitGrin forever, period.

Visual representation here. https://bitgrin.dev/comparision-of-emission/

Keeping Development Healthy
BitGrin has a modest dev fee distributed monthly at a rate of 10% of the circulating supply. By the end
of 4 years the dev team will have acquired 4.76% of the total supply through this
feature. After this, no further dev fee applies.

We feel this is a fair way to help compensate ongoing development, without resorting
to a donations-based system.

Launch

BitGrin mainnet is launched!
Explorer here: https://explorer.bitgrin.dev/

Technical Parameters

Block time 60sec
Reward: 4.5 BitGrin, halving every 2,100,000 blocks (approximately 4 years)
PoW consensus with Cuckoo Cycle

BitGrin uses a very lightweight implementation of MimbleWimble, allowing every user to have complete privacy and anonymity.
BitGrin is also very scalable thanks to our implementation of MimbleWimble we can achieve 60sec blocks while maintaining a
lightweight blockchain. BitGrin was built to follow the time-tested bitcoin economics to the letter, the max coin supply is 21,000,000.

BitGrin blockchain code, mining software code etc. Is completely open. This is an Open Source project, we encourage everyone
to contribute and improve the code base, we also encourage every 3rd party in our ecosystem to do the same. Sharing is caring.
To ensure a fair launch BitGrin will be released with a “one-click” miner that is functional with supported pools, so even
non-technical users can immediately mine it and contribute in the economy.

Features of BitGrin

Anonymous transactions

Healthy economics

Open Source for All

PoW with Cuckoo Cycle consensus system

Highly Scalable

Roadmap

Additional Information
Website: https://www.bitgrin.dev
Explorer: https://explorer.bitgrin.dev/
CoinGecko: https://www.coingecko.com/en/coins/bitgrin

Pools
Pool #1: https://pool.bitgrin.dev/
Pool #2: https://cryptoknight.cc/bitgrin/

Exchanges

Vinex Exchange: https://vinex.network/market/BTC_XBG

Community & Social Media
Community telegram: http://t.me/bitgrincommunity
Github : https://github.com/bitgrin/bitgrin
Twitter : http://twitter.com/bitgrin
Discord : https://discord.gg/9jRHgQP

Gui Wallet
GUI Wallet for Windows and MacOS: https://github.com/bitgrin/kingfish/releases

Topic: [ANN] BitGrin (XBG) – MimbleWimble with Bitcoin economics – Windows wallet! - page 11. (Read 7482 times)