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Author Topic: Gridcoin (GRC) - first coin utilizing BOINC - Official Thread  (Read 572385 times)
PeterTheGrape
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November 24, 2017, 05:35:25 PM
 #5481

An aspect of crypto that some people are missing now.

Currency, ideally, is as directly connected to a commodity as possible for an honest economy.

If you are an apple seller and can use apples as money then there is little chance of a bad economy. All a derivative currency should do is iron out the instability, not utterly falsify the basis for the economy the way fiat does.

-

Bitcoin has no underlying commodity, aside from goodwill and snowflake ideals, which is good, I'm a winter person.

Some other coins, including GRC, monetize a commodity, computing power, that has the potential to strengthen markets in other commodities, as well as the other commodities themselves. There are "commodity" aspects to computing power that are significant in solving longstanding problems with other commodities.

-

Seems like if anybody, including a journalist discussing cryptocurrency for neophytes, wants to suggest a currency the smart choice would be a currency which has a long term value, i.e., that monetizes a supercommodity that will grow in importance.
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PeterTheGrape
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November 27, 2017, 03:48:54 AM
 #5482

To be fair, in usd charts most coins have good technicals and btc charts are not as obviously pretty. We'll see.  Cheesy
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November 27, 2017, 06:24:49 PM
 #5483

Why won't this coins price increase in sats? Why?

I am so far underwater on this thing, I need there to be a big breakout, and SOON.

Until then I can only wonder......... WHAT HAPPENED TO MY MONEY!?!?!?!?!?!??!?!! MY MONEY!!!!!!!!!!!!!!!!!!!!!!! AHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH HHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH!
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November 27, 2017, 06:28:45 PM
 #5484

Gridcoin Community Hangout #044

A massive shout out to the BeyondBitcoin community & @officialfuzzy for providing the Gridcoin community a room in their mumble server for free.



What is Gridcoin?
Gridcoin securely rewards BOINC computation on top of Proof of Stake. Reward allocation is distributed, not centralized unlike other distributed computing related cryptocurrencies.

https://steemit.com/gridcoin/@peppernrino/gridcoin-community-hangout-044

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December 04, 2017, 03:05:07 AM
 #5485

No, because Bitcoin is all mined by ASIC that can ONLY do one specific crypto algorithm, and nothing else.

 In a more broad sense, the level of power consumption used by Bitcoin mining if it was applied to properly designed GPU rigs (don't build it as 1x PCI-E lane riser rigs for FAH) could generate a TON of work pointed at FAH or BOINC or the other less-well-known distributed science projects.





Exactly, and also why this project is so undervalued.  Think of the complex scientific problems that could be solved with tens of thousands of GPUs pointed at it.


I'm not sure how much GRC differs but there are some other supercomputing alts right now that may compete with Gridcoin like SONM and GOLEM but they don't contribute to Boinc projects yet.

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December 04, 2017, 04:10:02 AM
 #5486

GOLEM will not be connected to BOINC at all - and as of the last time I checked it's still in the "testing" phase.

 It's also a different concept - it's a "pay to rent computing power" type setup, not a "compensate for work done" setup like GRC is.


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December 04, 2017, 04:24:51 AM
 #5487

GOLEM will not be connected to BOINC at all - and as of the last time I checked it's still in the "testing" phase.

 It's also a different concept - it's a "pay to rent computing power" type setup, not a "compensate for work done" setup like GRC is.



You're right, I guess for now GRC seems to be the only one that rewards the implementation of computing power that contributes to good causes so that it's not a complete waste of electricity.

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December 04, 2017, 09:08:13 PM
 #5488

GRC isn't the only such coin - there is also CureCoin and FoldingCoin and a project that gives out a small amount of Doge for FAH work.
TO be fair, some of the work GRC rewards isn't actually scientific research - like the Moo Wrapper project - but most of it is.


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December 06, 2017, 10:56:41 AM
 #5489

I sent Gridcoin from Poloniex to Biitrex, the first time I am transfering the coin, first I was shocked when I saw it requires 999 confirmations, now there are already 842 but for over 5 hours now, no more confirmations and it is already getting to 2 days, hope the coins is not lost in the process

This is the first time I am seeing a 999 confirmations requirements, is there anything I should do again?

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December 06, 2017, 04:27:12 PM
 #5490

I can only see this coin going up very rapidly now that Bitcoin is getting Lightning Network making many alts useless, many alts only had a benefit of being cheaper to send transactions. LN now makes 80% of alts irrelevant.

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December 06, 2017, 07:55:15 PM
 #5491

999 confirms seems to be excessive - is that on the Bittrex end or the Poloniex end?

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December 06, 2017, 11:51:24 PM
 #5492

I can only see this coin going up very rapidly now that Bitcoin is getting Lightning Network making many alts useless, many alts only had a benefit of being cheaper to send transactions. LN now makes 80% of alts irrelevant.

Cool now go post the same to the rest of 80 % alt coins.

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December 07, 2017, 06:08:43 AM
 #5493

999 confirms seems to be excessive - is that on the Bittrex end or the Poloniex end?



I have had that happened to me at Polo multiple times. Their support is not very "supportive", sometimes it would be a day or two before a deposit even shows up as pending.

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December 07, 2017, 11:35:41 AM
 #5494

I can only see this coin going up very rapidly now that Bitcoin is getting Lightning Network making many alts useless, many alts only had a benefit of being cheaper to send transactions. LN now makes 80% of alts irrelevant.

Cool now go post the same to the rest of 80 % alt coins.
I think you may have read my comment wrong, or perhaps I worded it wrong or im reading your comment wrong lol. I'm saying GRC has a unique factor about it making it valuable unlike many alts which only had the 'cheaper than bitcoin' factor to them. So LN wiped 80% of alt coins selling point, GRC on the other hand is a coin still with a selling point. Other coins would be Monero, SONM and a few others.

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December 07, 2017, 11:45:32 AM
 #5495

I can only see this coin going up very rapidly now that Bitcoin is getting Lightning Network making many alts useless, many alts only had a benefit of being cheaper to send transactions. LN now makes 80% of alts irrelevant.

Cool now go post the same to the rest of 80 % alt coins.
I think you may have read my comment wrong, or perhaps I worded it wrong or im reading your comment wrong lol. I'm saying GRC has a unique factor about it making it valuable unlike many alts which only had the 'cheaper than bitcoin' factor to them. So LN wiped 80% of alt coins selling point, GRC on the other hand is a coin still with a selling point. Other coins would be Monero, SONM and a few others.

Yeah you are right I read hastily and wrong Sad my apologies

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December 07, 2017, 12:40:48 PM
 #5496

I can only see this coin going up very rapidly now that Bitcoin is getting Lightning Network making many alts useless, many alts only had a benefit of being cheaper to send transactions. LN now makes 80% of alts irrelevant.

Cool now go post the same to the rest of 80 % alt coins.
I think you may have read my comment wrong, or perhaps I worded it wrong or im reading your comment wrong lol. I'm saying GRC has a unique factor about it making it valuable unlike many alts which only had the 'cheaper than bitcoin' factor to them. So LN wiped 80% of alt coins selling point, GRC on the other hand is a coin still with a selling point. Other coins would be Monero, SONM and a few others.

Yeah you are right I read hastily and wrong Sad my apologies

NP I know you're a GRC advocate like me Smiley my alt BrannigansLaw got hacked, the account I used to post here quite often from.

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December 08, 2017, 06:09:41 AM
 #5497

The price dropped so fast, but I guess at least it did moon even for a bit and that's something most altcoins aren't doing right now.

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TRexMcStubyArms
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December 09, 2017, 04:07:32 AM
 #5498

The price dropped so fast, but I guess at least it did moon even for a bit and that's something most altcoins aren't doing right now.

 Shocked  You aren't kidding.  What in the hell happened?
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December 09, 2017, 09:00:30 AM
 #5499

GRC is so undervalued right now! Low volumes, since ages. I have almost finished accumulating. My friends and I at Cryptounderground, have too.

 You got a heads up, before hitting 4K SATS. Brace yourselves for the moon.
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December 09, 2017, 09:07:39 PM
 #5500

Bitcoin price exploded, altcoin prices IN BITCOIN dropped as a result pretty much across the board.
Price VS FIAT ($US etc) has been more or less flat to a small increase.

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