Grin's return on investment – 69.7% mining machine production

On July 20th, mining machine manufacturer Obelisk issued a notice saying that due to lack of development funds and users' lack of interest in Grin, Obelisk decided to cancel the GRIN1 mining machine project. Obelisk will fully refund the users of the GRIN1 series of mining machines at the subscription price.

According to CoinmarketCap data, Grin is currently trading at $3.02, down 6.01% in 24 hours, Grin's return on investment is about -69.7%, and ranked No. 108 in CoinmarketCap.

CoinmarketCap

At the beginning of this year, the Grin coin based on the Mimblewimble underlying agreement was popular in the market. Since there was no ICO, no pre-excavation, no investment, anonymous annolisting, pre-complete anti-ASIC marketing and privacy features, Grin was once Known as a new generation of privacy coins and even Bitcoin 2.0.

Google Trend

After the main online line of Grin in January 2019, Core Dynamics Technology, Obelisk and Vidtoo said that they would launch the Grin mining machine.

The co-founder of the cellular mining machine, Qi Bing, once said that he could clearly feel the influence of Grin in the market sentiment. The graphics card miners they host basically told me to cut the past to dig Grin.

F2Pool fish pond founder "Shenyu" said that it had put its own 10,000 N cards into the mining of Grin. These 10,000 cards have already been recycled by other currencies, and the "only electricity bill" is lost.

However, Grin's fire was gradually extinguished in the face of falling currency prices. Due to the small number of miners paying attention to the Grin project and the low level of understanding of Grin, the price of the Grin is low, and the sales of the Grin mining machine are more difficult. Over the past six months, according to the data from poolwatch.io, the miners using the C29 algorithm mining machine, the income of mining Grin in the past 7 days is 0.375GRIN / 1 GPS, the active miners are about 2776; the miners using the C31 algorithm mining machine, the past 7 The income of the day to dig Grin is 2.399 GRIN / 1 GPS, and there are about 1,514 active miners. Grin, who once covered the old-fashioned private currency such as Monroe and Z-Cash, has less than one-tenth of the active miners and about one-fifth of the Z-Cash active miners.

According to the Tokeninsight report, although the GPU mining machine has advantages in mining efficiency and hardware cost, it is almost impossible to dig Grin through the mining machine. In addition, the price of Grin continues to fall, and the price and sales of the mining machine are certain. The extent is greatly affected.

The GPU miner has no loyalty, and what crypto currency is high is the price of the coin. Therefore, the price of Grin, which is at a disadvantage, has also subsided, and the mining machine that has not caught up with its heat has finally died due to the market reaction.

Since April this year, Core Dynamic Technology has launched three Grin mining machines: G32-Mini, G32-500, G32-1800 mining machines. According to the core dynamic technology official website, these mining machines have price concessions, and after half a year, Obelisk announced that the Grin mining project has died.

Miner Colin3 once told Caijing.com that the retail miners are more willing to purchase miners with low stand-alone prices and short payback periods. Colin3 said: "As long as there is a little profit, some people will mine. The law of the market is like this: some people sell the mining machine and some people buy it. Some people buy it and someone digs it. This is the process of continuous iteration of the machine, selling the mining machine with low computing power to Those with low electricity prices will not be able to dig out until the people with low electricity prices, and the mining machines will be eliminated. Those who can support the whole year of mining are either using graphics cards (because the graphics card machines consume less electricity and can withstand the cost of electricity). The rise) is either a mining machine with a large amount of power, or those mines with large capital support."

Source: Finance and Economics Network on Finance