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