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49 lines
2.5 KiB
Markdown
49 lines
2.5 KiB
Markdown
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---
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title: Watching a Cryptocurrency Grow
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date: 2018-01-22
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---
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#### GRLC is the only coin you'll ever need
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Last weekend, a new cryptocurrency launched: Garlicoin, a fork of
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Litecoin based around garlic bread. It may seem silly at first, but keep
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in mind that sometimes "silly" coins can have a huge impact, like the
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time [Dogecoin sponsored a NASCAR
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racer](https://www.nascar.com/en_us/news-media/blogs/Off-Track/posts/doge-reddit-josh-wise-talladega-superspeedway-aarons-499.html). Regardless of what you may believe, it's always
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worth keeping an eye on meme coins (not memecoin, which is an actual
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coin).
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Currently, it's Monday, the day after the release, and already the
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Garlicoin community is thriving, both on the incredibly active Discord
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and the /r/garlicoin subreddit. There is also /r/garlicmarket, which
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will be the focus of much of this post. Regardless, this is very much a
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community driven coin, with a number of mining pools already available
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([see here](http://pools.garlicoin.fun/)) and about 297063 coins available so far. The market
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cap is at 69 million, so it should be interesting to see how that plays
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out. It's also been pretty interesting to see the newcomers to the
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cryptocurrency space asking questions and figuring things out, like why
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having a pool with more than 51% of the total hashing power [is a bad
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thing](https://learncryptography.com/cryptocurrency/51-attack).
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#### So how valuable is Garlicoin right now? Should I be investing into it?
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First, it's actually doing pretty well in terms of value. The
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/r/garlicmarket subreddit seems to have established that 1GRLC (1
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garlicoin) is about equivalent to a whole 1USD. This will likely
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fluctuate over time, but considering how quickly they can be mined and
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the current circulating supply it's pretty impressive. It's been pretty
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impressive to watch new trade offers be posted offering 1USD for 1GRLC.
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You can even [buy lockpicks with it if you want](https://www.reddit.com/r/GarlicMarket/comments/7s8bkw/shop_lock_picks_and_security_tools_usa_global/), on the same exchange rate.
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As for whether or not you should invest now, I would say absolutely.
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With the way things are currently going, 1USD being roughly 1GRLC, it
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may be better to mine for them rather than trade or buy outright and
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watch the price closely, because with cryptocurrency you never really
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know what's going to happen.
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If you want to get started, head over to the [official website,](http://garlicoin.io/) where
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you can find wallets and links to getting mining.
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My GRLC (vanity) address if you're interested:
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GMeMMdtqRTUF7V9FmsdtuFcej69DnyKhnY
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