Topic: [ANN][GRT] Grantcoin: Currency with a Conscience (old thread) - page 10. (Read 36183 times)

Thank you!

just bought 200000 on southxchange

will buy more

We are pleased to announce that market GRT/BTC is now open in SouthXchange. You can get your Grantcoins here:

https://www.southxchange.com/Market/Book/GRT/BTC

Happy trading!

I see your point, and certainly helping impoverished people directly is a worthy goal. But here are a couple of other points to consider:

1. The Grantcoin project is trying to shift the incentives in the economy away from the "profit only" model towards a balance between profitability and other values such as social good and environmental protection. Grantcoin business grants are an economic incentive program to reward companies that are doing business this way. If Grantcoin catches on, it could become a significant financial incentive and some businesses might change their behavior in order to qualify for grants of the currency. This would actually move the economy in the direction of sustainability. It could change the norms of how business is done. Grants to individuals in poverty, while a noble act, would not produce this systemic shift in the economy that Grantcoin is trying to create.

2. For a cryptocurrency to gain value, it has to catch on with businesses, not just individuals. Business adoption is a major driver of value of any alternative currency. If there's nowhere to spend it, then it's nothing more than a speculative pump which will eventually be dumped. Therefore, Grantcoin is focused on appealing to businesses that have values that match the Grantcoin economic vision, so that these businesses will adopt Grantcoin as a payment method for their customers. Giving grants to businesses, like a good corporate citizen rewards program, will encourage these kind of businesses to allow customers to pay with Grantcoin -- especially because, under our "Proof of Participation" system, businesses will not only have to meet criteria of sustainability, but they will also have to accept Grantcoin as a form of payment in order to qualify to receive grants of the currency from the Grantcoin Foundation.

Having said that, 8% of the Grantcoin currency reserve will be granted to individuals as part of our #GrantMe program, in these categories:

• Sustainability Pioneers — Small-scale organic farmers, renewable energy generators, and others who are putting green, sustainable values into practice.
• Young Visionaries — Students and young people who aspire to build lives and careers of conscience and are taking concrete steps to pursue their dreams.
• Everyday Heroes — Regular folks who work tirelessly, in their own families, careers, and communities, to help people and make the world a more compassionate and decent place.
• Artists and Musicians — People who are using the arts and music to bring out the best in human beings and inspire the spread of beautiful ideas and actions.

Another 2% will be granted to Charities and Nonprofits as part of the same program — Any organizations focused on helping people and the planet and creating a better future, e.g. fighting poverty and disease, expanding education, promoting sustainable economic development, protecting and preserving the environment, defending human rights or the rights of animals and the ecosystem, and more.

Also there is a Founder's Charity Fund which will be 0.5% of the distribution.

Does The Grantcoin Foundation only care about helping businesses and companies?

What about "people" that are in serious financial need for things like healthcare, food, clothing, education, transportation etc...?

We need a coin that will help people in "serious need" not just businesses.

In your Youtube video you mention growing inequality, human well being and that Grantcoin is "Powered by the People", but you only help companies and businesses? Do you see my point?

The three founders of Grantcoin were interviewed by John Barrett on Bitcoins and Gravy. We think it went well. The interview is expected to be released on Sunday night or Monday.

Thank you!

seems your project is getting a spotlight, GL guys again for the work and cause

Block reward has reached 400 GRT. That's the maximum it will ever be. It'll stay there until block 100,000 and then halve every 50,000 blocks.

Thank you to all of our miners!

If we get to a couple of cents that would put us in the category of top-tier altcoins. If we can achieve that in a couple years, that would position Grantcoin for the future as one of the premier cryptocurrencies. But there are so many factors of uncertainty about how the entire crypto space will evolve, and the evolution of this project specifically, that we wouldn't want to try to speculate much on where the price could end up.

Having said that, the documentation we've already released about our plans for this project, and the money we've already raised, should tell anyone who studies Grantcoin so far, that we are aiming for a professional quality project which can compete with the big coins down the road. Getting more funding will be a necessary part of the process of reaching our goals for this coin.

There might be a way to find out that information in the Ripple public ledger. I'm not sure, but we'll look into it. We're actually having a meeting with some Ripple gateway devs tomorrow, and we can ask them about that.

also, what is your end goal for the value of GRT? or atleast where do you guys want the value to be in the next few years? with 10 billion it cant be that high?

It's optimistic. But we've divided it into phases so that people can see what we accomplish with the Phase One funding, or even partial sale of Phase One. The way we plan to use the money is described in our business plan. And if people like what they see that we're doing to keep moving this project forward over the coming months, using the funding people put in, then it may be possible to get to Phase Two, and eventually Phase Three. Realistically we're thinking a couple of years to sell out all the phases. There are lots of factors that could make it happen either faster or slower, and we'll see how it all unfolds. Our team will keep providing frequent updates and uphold a highly transparent way of running our operations, so people can see where the money is going and the value being added to the project as a result.

how can you tell which orders are placed first in the ripple trade order book?

Yeah, we'd never just dump, that wouldn't meet our goals anyway. We're trying to create an order book where the price can gradually move up and enable our project to get more funding, so the buyers will be happy and the project leaders will be happy. And the quality of development of the project will be directly related to how much funding we raise, so it's pretty much in everyone's best interest for Phase One to get sold out, for anyone who likes this project and wants to see it grow and develop. But we have no idea of course how long the sale will take. The free market will tell the tale.

you have really hopeful finance plan

Thank you for your support!

ok, that looks like a more fair spread,
cheers

Actually, our sales plan doesn't call for any dumping. The sales will be put on each of the markets at specific prices which are shown in the spreadsheet, and the sell orders will sit there until somebody buys them.

For Bittrex specifically, Phase One sells will go like this:

Grantcoin in Lot    Price (BTC)    Funds Raised (BTC)
7,500,000             0.00000050    3.75000000
7,500,000             0.00000100    7.50000000
7,500,000             0.00000150    11.25000000
7,500,000             0.00000200    15.00000000
7,500,000             0.00000250    18.75000000
7,500,000             0.00000300    22.50000000
7,500,000             0.00000350    26.25000000
7,500,000             0.00000400    30.00000000
7,500,000             0.00000450    33.75000000
7,500,000             0.00000500    37.50000000
75,000,000 total GRT                   206.25000000 total BTC