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Author Topic: Gridcoin (GRC) - first coin utilizing BOINC - Official Thread  (Read 571193 times)
fearcoka
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February 16, 2014, 06:49:16 PM
 #2061

Is the current difficulty for mining relevant to its current market price?


I do not wish to purchase for 10 btc's worth in the period of 1 week and have the coin drop in price by 500% once many more pools and miners start mining.

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February 16, 2014, 07:08:30 PM
 #2062

Difficulty does not determine market price. Gridcoin is backed by work done for science projects, that is its major strength, not the difficulty.


Is the current difficulty for mining relevant to its current market price?


I do not wish to purchase for 10 btc's worth in the period of 1 week and have the coin drop in price by 500% once many more pools and miners start mining.
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February 16, 2014, 07:24:47 PM
 #2063

Difficulty does not determine market price. Gridcoin is backed by work done for science projects, that is its major strength, not the difficulty.


Is the current difficulty for mining relevant to its current market price?


I do not wish to purchase for 10 btc's worth in the period of 1 week and have the coin drop in price by 500% once many more pools and miners start mining.

Mining difficulty definitely DOES have an impact on the coin's value to some extent as they become harder to obtain. It happens to every coin as the mining difficulty increases there is almost always an immediate boost in value roughly equal to the amount necessary for those who are mining to continue earning roughly the same amount they were earning at the old difficulty.

This results in miners earning roughly the same amount or more as the difficulty increases until a certain point where demand is satisfied and supply continues to increase which then causes a crash in value, lowering of difficulty as miners bail to a more profitable coin and then the cycle slowly begins again...

It's logical to assume (IMHO) that if the difficulty for mining increases (and stays increased, not the short spikes/bursts in difficulty we've been seeing everyday, but a consistently higher difficulty) that the value of each individual coin will increase.

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February 16, 2014, 08:30:49 PM
 #2064

Hey guys i want to invest a lot in this coin.

1 question though.

Is the price right now on https://c-cex.com/index.html?p=grc-btc relevant to mining costs or is it just a random $ value right now?

If i buy the entire coins on this exchange will more miners bring down the cost?

I think price is gonna explode sooner or later,but no one has a crystal ball  .
It could take x weeks ,x months  or x years
Hold it longterm.
If i were you i would buy it now while its cheap(i mean its really cheap) and just forget about it ;
This coin has a potential as oppose to every other >random word<coin that are just bleak copies of bitcoin.
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February 16, 2014, 10:34:22 PM
 #2065

Don't forget to register (registered members get to cast more votes) and cast 10 votes every hour: https://www.mintpal.com/voting

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February 16, 2014, 10:53:18 PM
 #2066

Most people tend to gravitate towards to the big ones anyways so it works out.

Found yet another exchange...

http://www.ecoinfund.com/vote

Seems like exchanges popping up like crazy lately. GRC is not on the list yet, but I emailed them and asked them to add it to the list of coins to vote for.

People don't be naive.
I could be opening exchange (some crappy website) and then steal all the coins and money.
This reminds me of forex bucketshops  and this is 1000 times more unregulated.
You think police is gonna do anything about some stolen cryptocoins ?

Also isn't it better for volume (buy sell orders) to be  concentrated at 1-3 most popular exchanges than to be spread out all over the place?

I'm not endorsing any of the exchanges that I have posted links to. As I stated in at least 1 or 2 of my posts, I have not even traded at most of these. But who is to know which one of these will turn out to be legit and which one will not. I would obviously not advise anyone to trust an exchange (even an "established" one) to hold large amounts of coins. Personally, I test exchanges with smaller amounts, and when I do deposit large amounts, I take them out as soon as my desired transactions are processed. Everyone should use common sense when exchanging and placing online transactions. Everyone should do their own research and testing before trusting anyone or any site.

I do like seeing more competition so far as Exchanges go. I think within a few months, there will be quite a few more legit altcoin exchanges than we have now.


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lmue
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February 17, 2014, 02:14:28 PM
 #2067

Most people tend to gravitate towards to the big ones anyways so it works out.

Found yet another exchange...

http://www.ecoinfund.com/vote

Seems like exchanges popping up like crazy lately. GRC is not on the list yet, but I emailed them and asked them to add it to the list of coins to vote for.

People don't be naive.
I could be opening exchange (some crappy website) and then steal all the coins and money.
This reminds me of forex bucketshops  and this is 1000 times more unregulated.
You think police is gonna do anything about some stolen cryptocoins ?

Also isn't it better for volume (buy sell orders) to be  concentrated at 1-3 most popular exchanges than to be spread out all over the place?



I'm not endorsing any of the exchanges that I have posted links to. As I stated in at least 1 or 2 of my posts, I have not even traded at most of these. But who is to know which one of these will turn out to be legit and which one will not. I would obviously not advise anyone to trust an exchange (even an "established" one) to hold large amounts of coins. Personally, I test exchanges with smaller amounts, and when I do deposit large amounts, I take them out as soon as my desired transactions are processed. Everyone should use common sense when exchanging and placing online transactions. Everyone should do their own research and testing before trusting anyone or any site.

I do like seeing more competition so far as Exchanges go. I think within a few months, there will be quite a few more legit altcoin exchanges than we have now.

first vote from me! now we can vote for GRC now

GRC: GAcm1qG5XAjZGh8FJ7X5jSUFBM49Kom9Et

C-cex, 交易GRC

Coins-e, 其他虚拟货币

<a target="_blank" href="http://shang.qq.com/wpa/qunwpa?idkey=02e66be6eb2de2a31ec26119d488a63ae31ad726787f7ef44a979839fd855232"><img border="0" src="http://pub.idqqimg.com/wpa/images/group.png" alt="Gridcoin交流群 (GRC)" title="Gridcoin交流群 (GRC)"></a>
andrewp
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February 17, 2014, 05:54:44 PM
 #2068

Hi guys,

Another place where Gridcoin can already be traded is here:
cryptotc.us

Rob, can you please add it to the first post?

Andrew.

Proud Gridcoiner since 2013!
TribalBob
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February 18, 2014, 03:48:19 PM
 #2069

Hi guys,

Another place where Gridcoin can already be traded is here:
cryptotc.us

Rob, can you please add it to the first post?

Andrew.

Has anyone had any successful trades and withdrawals at this exchange yet...?

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.Join the Trading Revolution.
traderman
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February 18, 2014, 04:03:59 PM
 #2070

Haven't really used it.

Hi guys,

Another place where Gridcoin can already be traded is here:
cryptotc.us

Rob, can you please add it to the first post?

Andrew.

Has anyone had any successful trades and withdrawals at this exchange yet...?
TribalBob
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February 18, 2014, 04:44:33 PM
 #2071

Don't forget to register (registered members get 6 votes per hour) and cast your vote every hour!

https://www.mintpal.com/voting

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.Join the Trading Revolution.
BoogieWater
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February 19, 2014, 03:37:12 AM
 #2072

how many GRC/day do you think i'd be getting with 1.2Mh?
traderman
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February 19, 2014, 03:57:57 AM
 #2073

Maybe 1 block per day, so around 150.

how many GRC/day do you think i'd be getting with 1.2Mh?
laardi
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February 19, 2014, 06:15:30 AM
 #2074

From my experience, more like 3-6 blocks a day, depending on the diff.

Maybe 1 block per day, so around 150.

how many GRC/day do you think i'd be getting with 1.2Mh?
dustinfroe
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February 19, 2014, 06:46:42 AM
 #2075

Guys a really cool exchange is about to launch. We need to start voting there https://bitcointalk.org/index.php?topic=471779.0
matsmyth
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February 19, 2014, 09:11:45 AM
 #2076

We need to get coindesk to do an article on gridcoin. Anyone know how to do this?

Also, are we ready for this? I'm all for helping this coin get all the attention it deserves, but if the software isn't ready yet, we should be patient.
andrewp
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February 19, 2014, 10:57:09 AM
 #2077

We need to get coindesk to do an article on gridcoin. Anyone know how to do this?

Also, are we ready for this? I'm all for helping this coin get all the attention it deserves, but if the software isn't ready yet, we should be patient.

Maybe this might help! Wink

Great Job Everyone!
We've already made it to TOP 100 in The World in average credits!!

http://boincstats.com/en/stats/-1/team/list/16/0/0
http://boincstats.com/en/stats/-1/team/detail/118094994/overview

Now let's aim for the 1st place! Wink

Andrew.

Proud Gridcoiner since 2013!
aigeezer
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Cryptanalyst castrated by his government, 1952


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February 19, 2014, 01:12:52 PM
 #2078

We need to get coindesk to do an article on gridcoin. Anyone know how to do this?

Also, are we ready for this? I'm all for helping this coin get all the attention it deserves, but if the software isn't ready yet, we should be patient.

Maybe this might help! Wink

Great Job Everyone!
We've already made it to TOP 100 in The World in average credits!!

http://boincstats.com/en/stats/-1/team/list/16/0/0
http://boincstats.com/en/stats/-1/team/detail/118094994/overview

Now let's aim for the 1st place! Wink

Andrew.

Very nice, but the team entry still carries a U.S. flag. Dev said it had been changed to international. Never too late to actually do it.   Smiley
Gridcoin
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February 19, 2014, 01:31:05 PM
 #2079

Sleep/Work status written to file %appdata%status.txt for s4mmy.

Is this log auto-rotated or will it just continue to increase in size...?
It's not auto rotated and that needs to be added to our changes ASAP.  Ill add it to my list now.  Aysyr, please add it to your list that contains the timestamp issue also.


Gridcoin: scientia humana libertas
traderman
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February 19, 2014, 01:31:57 PM
 #2080

That is a good idea. I guess we should write them an email or something.

We need to get coindesk to do an article on gridcoin. Anyone know how to do this?

Also, are we ready for this? I'm all for helping this coin get all the attention it deserves, but if the software isn't ready yet, we should be patient.
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