No wonder the price is so low... all the miners just dumping on retail in order to make their capex back.
I appreciate that you tried to make a coin and that your algo is actually pretty interesting... but it is also too bad you didn't do a memory hard algo and be in a position to capture the 18m+ GPUs that are about to need a new home.
Many miners are not selling (dumping is when you unload your big premine, which Grin doesn't have), which is why there is limited liquidity on the few exchanges that list Grin. I
The Cuckoo Cycle PoW family is memory hard and Grin supported GPU mining in its first two years, but long term everything turns to ASICs...
How would you know who's selling and who isn't? Given the limited liquidity, it would have to be miners since that is the only way to get it. I use the word dumping to mean that they are mining and selling.
ethash held out surprisingly well. certainly a lot of asics were sold, but it didn't fully knock out GPUs like say sha256 did with btc. where as grin... you changed your original tone on it and decided to embrace asics with specific changes to CC to support that.
Yes, it's pretty much only miners selling, but only a small fraction of them sell on exchanges as apparent from the low volumes.
The original Cuckoo Cycle turned out to be rather ASIC friendly; the Cuckatoo variant even more so. But it's the Cuckaroo variants that saw the most changes to make them substantially more ASIC resistant.
So then that explains the price being as low as it is... nobody is actually using it... just sitting on it in the hopes that it might go up some day. Sigh.
update: removed comment about ROI cause I didn't do the full maths.
> So then that explains the price being as low as it is... nobody is actually using it
That comment makes no sense, since most cryptocurrencies have no use except speculation. The price is low (well, no lower than Doge) because Grin deters speculation, and hence much fewer people are willing to speculate on it.
I appreciate that you tried to make a coin and that your algo is actually pretty interesting... but it is also too bad you didn't do a memory hard algo and be in a position to capture the 18m+ GPUs that are about to need a new home.