One thing that’s interesting is that unlike Bitcoin, which was so maligned and ignored at launch that Satoshi had to mine by himself on a single Intel CPU for most of 2009, there is (by our conservative estimates) $100 million of mostly VC money invested into special-purpose investment vehicles to mine Grin. This does a lot of weird things: It turns a bunch of people who would have been buyers of Grin into sellers of it, it changes the composition of the early holder roster, and it means the chain will launch with an extremely high degree of security via high PoW hashrate.
Despite the big amount of professional investor interest in Grin, the community itself is the closest thing I’ve seen to how the early Bitcoin community felt. The lack of a premine does magic things to human psychology; when you are doing free work for something that someone else gave themselves a huge bag of, you feel like a chump! When you do free work for something that everyone has a fair chance to mine, you feel like you’re part of a tribe, and that effect is in full swing with Grin. Wallets, decentralized exchanges, stats pages, etc., are all popping up, and our Grin community channel has smart devs asking what they can build every day.
2019-01-14 | Full Review