Re: Ground wire
it is called a "bonding Point". It tries to prevent stray electricity from going into the water, thus eating away the metal on your boat.
If you don't have a return line to the negative of your battery... electricity will find a way, and will start to dissipate into the water. as it goes, it will take electrons from your boat and leave them in the water.
By bonding the metal to the negative (that is part of your corrosion protection system) if you have loose electricity, you hope it will go to the hull and then back to the battery, meaning it will take less electrons with it, but since it is close to the water, you will loose some to the water...