6/08 ANDY HOFFMAN (CryptoGoldCentral.com): In MimbleWimble, MWC Will Be Bitcoin - While Grin Is BCash; And Beam, Ripple
The MWC project commenced in January, just as the first two MimbleWimble coins, Grin and Beam, were launched to an incredible amount of hype. Grin and Beam’s cumulative market cap of $37 million ($28 million Grin, $9 million Beam) has been remarkably stable for months - but investors have lost enormous amounts, as exponentially rising supply has been offset by plunging prices.
As for MWC, the registration period for its FREE airdrop distribution to Bitcoin holders started April 20th, and will continue until the July 19th snapshot. After which, MWC holders will enjoy scarce supply (a 20 million lifetime cap, versus 263 million for Beam and infinity for Grin), and an in-kind dividend for “MWC HODLers.” So, financially speaking, MWC is ALREADY miles ahead of Grin and Beam, despite the fact it’s unlikely to launch until the fourth quarter.
That said, let me caveat the following by proclaiming that given the enormous head start Grin, Beam, and MWC have in the MimbleWimble space – other than a handful of “ideas,” none of which are discerning or financially supported – the odds of a new, meaningful competitor in the space appear close to zero. Thus, given the scope of what I view to be the most revolutionary technology in cryptocurrency history, I expect all to do well in the coming years. The only question being, which will be the biggest winner, compared to the other two.
It is impossible for me to be 100% objective, given my deep involvement in the MWC project. That said, consider that for someone whose business is professional cryptocurrency consulting, I have devoted my time to the ONLY two altcoin projects I believe to be creating significant value, MWC and Bitcoin Rhodium…which I might add, have common threads that in my view, will benefit holders greatly.
In the MimbleWimble space, I know as much as anyone in crypto. Technologically, it’s all Greek to this lifelong finance guy. However, I’ve learned enough to know the technology works - and that the enhancements the MWC devs are adding are at least as valuable as those of the far better capitalized Grin and Beam teams.
The reason being, that aside from the brilliance and vision of MWC Lead Dev Chris Gilliard; and the team of long-time colleagues he has brought in to develop the MW cod; it was borne out of a genuine desire to make Bitcoin better, and reward Bitcoin holders (not venture capitalists) for supporting it.
In prior articles, all listed on the MWC website, Chris and I have documented MWC’s growth and accomplishments, as we rush headlong toward launching a coin with the potential to radically alter, and improve, crypto history…and do so, with an extremely low supply, in-kind dividend, and airdrop distribution.
As a career finance guy, with as much experience in crypto finance as anyone in the space; and a keen, vested interested in MimbleWimble; my casual observation is that MWC is a streamlined technology and finance machine – as opposed to Grin, which I view as a disjointed “hot mess”; and Beam, a corporate, centralized version that frankly, investors have little interest in.
Grin was funded by venture capitalists, but is wrongly considered an “altruistic,” Bitcoin-like project, built by diehard, utopian crypto geeks. So, atop the fact that Grin’s limitless supply makes it an investment dead end, it in many ways acts like a large, centralized corporate entity – whose progress is dramatically slower than what its huge dev team SHOULD produce; and decisions, in many cases, head-scratching. In this context, the reason for this article becomes more obvious.
Today, we learned that Grin’s developers plan the first of four hard forks in July – which aside from hard-core coders, makes no sense to anyone. As is ALWAYS the case in MimbleWimble, it’s MWC Lead Dev Chris Gilliard doing the best job explaining it – in the below, brilliant article; in which, he not only discusses why it’s a giant waste of developers’ time (and venture capitalists’ money), but how MWC will likely benefit as much from Grin’s decision as Grin.
https://www.mwc.mw/mimble-wimble-coin-articles/update-on-mining-algorithm-for-mwc
In a nutshell, Grin’s devs appear to be spending more time worrying about which algorithms miners mine it with, than actually developing the code they theoretically have a huge head start with. In the big picture, the issues they are worrying about are immaterial – enabling MWC to grow REAL MimbleWimble market share, in a space where miners will focus on the best investment opportunities, regardless of which esoteric algorithm is used, or modified.
Not to mention, the real costs imposed on exchanges and other constituents by these changes – in a show of vulnerability eerily similar to BCash’s response to Bitcoin. Combining this lack of a cohesive technological view; way too much money owed to way too many parties – like the $100 million of venture capital money invested in Grin mining equipment; and of course, unlimited supply; no dividend; and the vast majority of Grin investors nursing huge losses, despite a massive crypto bull market; and you can see why it’s ironic, but reasonable, to compare Grin to BCash.
As for Beam, which launched simultaneously with Grin, it seems to me that ALREADY, it is becoming persona non grata in the MimbleWimble space. At least Grin is PERCEIVED to be a communal, Bitcoin-like project – despite the fact that operationally, it couldn’t be further from the truth; and of course, is the first mover in the space.
Conversely, we have Beam – whose version of the MimbleWimble code has extremely low visibility, or perception of being "better"…unless, of course, one considers a 263 million coin cap a material improvement over Grin’s infinity. Moreover, one look at its website, and you’d SWEAR it was a corporation like Ripple - which has no reason to exist, except to sucker mainstream Wall Street types into thinking its centralized version of cryptocurrency (with limitless supply, and no users) is superior.
Sure, it has its own code, in its own language. However, given Grin's MimbleWimble sector leadership; and MWC's superior financial traits -and ability to nimbly upgrade the Grin code it forked from; it's difficult to understand how Beam has any real change of market share leadership. This is why it trades at just a third of Grin’s market cap – and frankly, is unknown to all but the most diehard MimbleWimble followers.
And then there’s MWC – conceived by a diehard Bitcoiner who happens to be a brilliant coder with brilliant coder friends…as well as a crypto visionary with an eye for what makes investments work. If any MimbleWimble project is a grass roots effort to benefit Bitcoin, and Bitcoiners, it’s MWC - and if anyone is going to work 24/7 to spread the word of its value, it’s ME. I have spent nearly two decades proselytizing the need for sound money – and was an early investor in Precious Metals in 2002; and Bitcoin in 2016, when I realized crypto had usurped PM’s age-old use case.
So, for investors seeking to benefit from what quite likely, will be the most revolutionary technology in crypto history, are you going to BUY BCash (Grin) or Ripple (Beam); or get the “Bitcoin of MimbleWimble” FREE, by simply holding Bitcoin and registering for the MWC airdrop by July 19th?
The MWC airdrop registration for Bitcoin holders will continue until the July 19th snapshot. For more information, please check out the MWC website, Discord room, and
Twitter feed, and Telegram Forum.
https://discordapp.com/invite/eUNwqf3