/biz/ - Business & Finance

Is there any reality in the possibility of GRT ever hitting five-figures?

>>29688681
>five figures
HA!

The golden grail is cardano integration. If Cardano gets it's africa deal off the ground, and GRT integrates, thats a million user use case onboarded. GRT will become insanely deflationary at that point. Imagine even, if a decentralised social media app is released in africa.

>>29688943
The deflationary nature of it is interesting to me. But I'm not quite confident I understand it fully.

>>29688681
I love this project. I'm basically all in. But $10,000+? No. Fuck no. Don't screen cap this because it will just waste space on your hard drive for as long as it takes you to realize that 5 figures is just an absolutely moronic notion.

>>29688681
10 dollars is basically pie in the sky

>>29688681
even 3 figures is pushing it short term. 5-10 years, if decentralised apps take off, and theres some big, social media apps that require a fuck ton of querying across a large userbase, i truly think 3-4 figures isn't obscene honestly.

>>29689358
I really have no idea.

If you could buy bitcoin at $1.85.. would you?

10 dollars this year would make me happy desu

>>29689496
I did, at $1.2. And sold at $5 to pay rent and buy groceries because i was dirt fucking poor

>>29689606
Pretty much this. I feel pretty certain that GRT will be $10 in time. If it were to hit 10 bucks this year, it would be really exciting.

>>29688681
no, but $10 for sure, as the whole crypto market grows.

>>29689741
>>29689606
$10 is short sighted. Very doable EOY. But you want to hold GRT long term. It's built to grow over time, literally it's only FUD is competititon/them minting new coins eventually

>>29689977
what about this?

This is gonna go above $2 soon...right guys?

>>29686814
WHY WON'T NUMBER GO UP!??? THIS IS BULLSHIT!
YOU GUYS SAID IT WOULD BE $10 BY NOW!!!
I BOUGHT AT $2.70
REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE

>>29690149
source?

>>29690243
should've DCA'd when it hit the lows

>>29690149
They've discussed ways to devalue tokens that aren't actively being delegated or consumed, whether by locking them or reducing their sale price somehow, in order to punish people who speculate on the price of GRT without actually contributing to the network. Personally I am in favor of such an idea, it would be a net benefit to the tokenomics (tokens used and consumed means deflation)

>>29690448
dunno where that is from, but this is from their forbes article.
https://www.forbes.com/sites/vipinbharathan/2021/02/09/edge--node-a-new-software-development-company-is-launched-by-the-graph-core-protocol-team/?sh=7dccc1c54f8d

>>29689977
Yep I have no problem holding long term. I'm just trying to be realistic, but it doesn't matter to me either way what it is EOY since I'm delegating 25k with intentions to hold 3 years minimum.

>>29691046
im jelly. Im poor as shit, and only at 800 grt atm,i plan to accumulate a delegation 5k stack before may though so i can do this properly. Whats your returns atm at 25k?

>>29691480
About 10 GRT a day through poo2pee.

>>29688681
3 figures in 10 years is pretty much a given.
4 figures in 20 years if the web gets completely replaced by Web3 with GRT as standard infrastructure.
But 5? Well yeah, anything is possible I guess, but it would probably mean that the traditional fiat is now on the verge of being worthless, and at that point might as well have 8 figures, why not, we're in hyperinflation territory here, Zimbabwe money and all.

>>29688681
Are you 12?

>>29690467
I can’t afford 10 k dollars in grt right now

>>29692424
You learn by asking questions. Can't be afraid to ask stupid ones.

>>29692661
The best attitude. ygmi fren

>>29689199
I don't think GRT will be deflationary
We have a 3% annual inflation (300 million GRT are being minted every year as indexer rewards paid to indexers and delagators)
The burn rates are as follows
Query fees = 1% of all query fees burned
Delegation deposit = 0.5%
Curator deposit = 2.5%
Current amount of burned GRT 10M (this is all from delegator deposits) while 50M GRT has been minted so far this year. As it stands GRT is an inflationary asset 10,040,984,050 GRT total supply. So total supply has inflated 40M GRT since launch.
If we go off the 1% of query fees, we'd need 30 billion GRT to be spent on query fees just to break even with the 3% annual inflation.
If we go off the cost of $0.00005 per query and today's cost of GRT that's $55,800,000,000 needed to be spent on queries a year just to break even with inflation.

>>29693047
>Current amount of burned GRT 10M
Consider how few subgraphs are active, and how new the project is though. This is a very impressive amount for this stage.

>>29692654
An easy way around this problem would be to exempt wallets with less than sat 10000 GRT

>>29688681
Absolutely not. It might not even hit three before being replaced by a superior alternative.

>>29690467
that just hurts delegation, why would i delegate for gains when the gains are being deliberately reduced? I would obviously go elsewhere for better gains and stop supporting your network

>IN THE END, IT DOESN'T EVEN MATTER

>stoploss set at 1.70
it better not fucking do it

Imagine not delegating right now

>>29690149
>Please don't hog our resources and make the network expensive
That's bullish. They see it as a problem.

>>29694327
can I delegate 2.2k GRT

>>29694327
who should I delegate with?

>>29694573
P2P. Allocates rewards daily, consistent.

>>29694692

>>29694490
No point fees are too high, wait until you have 5k

>>29690149
This actually made me think. What if the grt dev team themselves are the ones dumping tokens and keeping the price low? Basically they don't want the price too high for some reason and they're keeping it low on purpose? Possibly so they stay low on the radar until the main net is up and running with query fees in place?

>>29694490
5k minimum is the consensus
>>29694573
I go with P2P, reputable and pay every day.

>>29690200
No. Boomercoin is probably going to test resistance again ~42k before continuing up or down. It's gonna drag everything else with it.

>>29694490
From my calculations it might take you 1-2 months to pay off gas fees. Your call

>>29695363
There's also a fee to pay to delegate on top of that.
1% of your stack I believe?

>>29695235
Didn't you see the tokenomics of this thing? Of course they're dumping, who do you think has the majority of the tokens? To add insult to injury, around June, they're quite openly going to do dump millions of tokens at once, effectively rugging everyone currently on board, and skullfuck the market price.
This is potentially a very good project but the team behind it seems to be doing everything they can to blow it up.

>>29695935
.5% both ways for a total of 1%. But the other .5% is relative to the total being removed. So if you double your stack is .5% of that new total

>>29694454
Yeah in the short team its maybe bullish, but they will fix it or abandon it in the long term

>>29696169
*term

>>29696075
You're misunderstanding my take. Yes they're dumping, but in an effort to keep the price artificially low for some reason. The project has real utility and currently works so even if the VC backers dump (they're already set up as indexers and 90% of them have never left a project after the vesting period) I'll just pick up the discounted bags and continue making good apy on delegation.

>>29696140
Not true. It's 0.5% when you delegate. No burn when you withdraw

>>29696075
solana had a dump and their price increased. these tokens won't be in circulation theyll go back to delegating/indexing

>>29696417
You sure? Pretty sure it was both ways.

>>29693708
You wouldn't be knocked for delegating, just for sitting on the tokens.

>>29696480
Big backers can already index and delegate their coins. I've only seen one or two of the backers from what I see have actually indexed their tokens. Why aren't the rest?

>>29696504
I undelegated and withdrew my tokens yesterday and there was no burn. It's only when you delegate

>>29690149
going to sell my stack at $3. I don’t want anything to do with this reddit faggot shit or delegating. It’s my fucking money and I’m not locking it up to facilitate somebody else’s business.

>>29696633
Too much effort and opportunity cost when you're talking about billions of dollars. Doesn't mean they plan to dump. Just means it's easier for them to let it sit. But if they dump, there are people that would gladly take the discount.

>>29696936
Ngmi

>>29696864
Fair enough.

>>29691688
That's surprisingly linear, I'm on P2P and I make a little over 0.5 GRT a day delegating a small (but sexy) 1.5k stacklet

>>29686814
for those who are interesting in delegating:

YOU FUCKERS SAID WE WERE HITTING $50 EOY


I AM FINANCIALLY DECEASED

>>29697832
I LITERALLY PUT $20k INTO THIS NOOOOOOO AAAAAAAAUUUUUGH

>>29697499
The formula is pretty simple. The network inflates at 3% a year of the total supply (10B). That 3% is given to indexers proportional to the size of their stake and pool. Delegators get rewards proportional to their owned stake in the pool minus the cut given to the indexer. You can calculate pretty accurately with an excel spreadsheet although some epochs reward more than others. Some days I get 21 every day, others 27.

lol somebody tell me what the price is I don't feel like checking cmc. Did we go under $2? PLEASE tell me we didn't go under $2

>>29697832
Lol, we are
check em dubs
wagmi

>>29698496
Sorry I took your digits.
$100 EoY

>>29686814
$1.80's the bottom, right?

>>29698417
Anon.. we've been under $2 all week

>>29698714
bollocks
prove it

>>29698417
nigga you living under a rock? lol

>>29698709
It's up to Bitcoin.

as soon as this shit goes back over 2.30 im selling and buying more LINK

>>29698858
I'm sorry for your loss

>>29699554
anyway to move my coinbase to blockfolio?

>>29699554
You're fucking kidding me. This is fucking fake. Tell me this is fake right fucking now

>>29688681
How many crypto projects have ever been 5 figures? 1 (one)?

>>29700375
And do you honestly think btc will be the only project to ever hit 5 figures? that would be crazy hahahahahahaha

>>29693517
>a superior alternative.
I just want to understand - can someone tell me HOW a superior indexing system could exist? I might be too pro-GRT but I can’t think how to do it within the scope of decentralization

>>29696936
you sound like a retarded zoomer who expects instant gratification. delegating is a great way to set up a passive income stream that compounds over time. now gtfo and go fail at swinging shitcoins somewhere else you fucking retard.

>>29693356
Most of that burn is delegation taxes

>>29690149
>>29695235
If the token itself is a “utility” token that is used for the actual queries then the price will literally never moon, specifically right now.

They’re only just getting stated and will want to attract as many clients as possible. The price of each token skyrocketing when the tokens themselves are the product they want to sell would completely betray their intent because it would mean other coins would be less likely to utilize them if they have to pay a fortune. It would be more cost efficient to create the search system in house or look to/invest in a cheaper competitor.

Wouldn’t that incentivize the GRT devs to intentionally keep the price low for the foreseeable future?

>>29701244
What is 0.000001 grt?

>>29701244
To add to this - it would be in their best interest to keep the price of each token low for the sake of more widespread adoption of their service, and even once they have a steady base of clients they’d still want to keep the price at a certain rate rather than it skyrocketing in value.

>>29701244
You understand fees can paid with fractions of GRT right? Price going up doesn't change the fact that a query fee will cost $0.00005.

How does bankruptcy EOY sound?