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Comment by wiradikusuma | Hacker News Reader

If it doesn't allow people to speculate (no ICO, no mining), how would people be interested to use it? (bootstraping)

Note: I don't know anything about blockchain.

It isn't that there is no mining, they stated that there is not pre-mining, so no mining before the tech is released. This is a regular hype technique used by shit coins in the past (ditto to the ico method).

They have a mining tool that runs on OSX and Linux 64 on their GitHub.

The premise is that they want it to be an actual currency as opposed to a glorified stock option.

Yeah, it is a pipe-dream. To be useful you need to be able to buy/sell it - which means going to exchanges. Once you are on exchanges you are a volatile asset or a "glorified stock option" and a part of unregulated gambling platform.

Exchanges are not just to gamble. Imagine you start using MimbleWimble in your daily life: e.g. you're a freelancer and you decide you want to get paid in Grin. At some point you will need to convert your Grin to fiat currency just to do some typical purchases that are usually not possible to pay with crypto (e.g. rent? groceries?). For this, you need an exchange. It's not gambling, it's a temporary necessity.

> Imagine you start using MimbleWimble

With that name, nope, never.

MimbleWimble is a protocol, not a coin. Grin, though I'd still say it's a bit funny sounding, is acceptable. The backstory of how it was released and why it's called MimbleWimble is pretty cool.

Yeah yeah yeah, how can you be on an a crypto exchange and not be a gambling asset? And what is this "temporary" remark? As I said - it is a pipe dream.

Grins are mined by finding 42-cycles in random bipartite graphs with billions of nodes.

So many people have it all figured out for "why cryptocurrencies fail" but your question is exactly why bitcoin and crypto succeed.

Huh?

People fill threads up with reasons why they think bitcoin and cryptos fail even when year after year their opinions are proven wrong by the market.

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