Gridcoin (GRC) - first coin utilizing BOINC - Official Thread

[BlackObelisk]

That's TOTALLY INSANE.

Not only they applied the patch without a poll, one of the developers abused the bug on the real net instead of using the testnet.

BTW - that list does not show "how often" people get payouts, it only shows the last time the GOT a payout.
With that said, it's VERY bothersome that only ONE PERSON ON THAT LIST has less than 1000 Gridcoin and most of them have very low magnitudes.
That's TOTALLY BACKWARDS from what should be happening if this coin is actually intended to SUPPORT RESEARCHERS.

If you click on the username you will get on the list of all transaction on the bottom of the page, then you look on transaction type DPoR sorted by date, it gives rough idea on how often that person stakes, we don't know when that person's wallet online, but we can see if he or she stakes often or not.

But I agree developers should focus on researchers more than on bag holders.

[1715267114]

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[1715267114]

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[denravonska]

Still waiting for a reply from anyone that has gotten a GRC payout in the last *3 weeks*.

Gridcoin has got me very close to the point of saying "forget about it, it's NOT paying out" and shifting back to working directly with the Distributed.Net project instead of with BOINC at all.

 Don't even get me started on the BROKEN current BOINC client.

Oh, it happened after developers removed research weight from formula, you need something like 1000$ in your wallet now to stake every day. To get more accurate numbers just take a look at some users who stake every day.

This will probably be the last time I try to explain this. You do NOT need $1000 worth of GRC to stake every day. With the current net weight you are estimated to stake daily with a balance of 10k GRC, which is closer to $322. If you actually have a need to stake daily. If you can get away with weekly staking you need $46 worth of GRC. Take a look at my stats for before and after V8 (2017-09-01). IIRC the days before and after averaged to exactly the same amount of stakes.

The bug with the old stake engine was that the magnitude was applied to each UTXO regardless of its size. This meant that a strong researcher could split their assets into tiny UTXOs and massively increase their stake weight which posed a great risk of double spending. For example, with my current balance of 54k GRC and 85 magnitude I have around 54k stake weight. With the previous engine I could abuse this and get 4.6 million stake weight.

And, no, you can't just apply it to one UTXO since it cannot be verified on the receiver end. We are looking into alternative, more secure ways of either rewarding researchers passively or use a secure way of applying the magnitude as stake weight. Tomas has written about some of the proposals in the Gridcoin Github wiki: https://github.com/gridcoin/Gridcoin-Research/wiki/DPoR-Payments.

Edit: If you want to know more about this or the currently discussed fixed size block rewards change then feel free to join us on Slack where we are very active.

[erkan]

top Gridcoin tasks people were interested in (last 2 weeks):

* developer capacity
* polls
* bounties
* exchanges

https://steemit.com/gridcoin/@erkan/top-gridcoin-tasks-people-were-interested-in-last-2-weeks-developper-capacity-polls-bounties-exchanges

[BlackObelisk]

This will probably be the last time I try to explain this. You do NOT need $1000 worth of GRC to stake every day. With the current net weight you are estimated to stake daily with a balance of 10k GRC, which is closer to $322. If you actually have a need to stake daily. If you can get away with weekly staking you need $46 worth of GRC. Take a look at my stats for before and after V8 (2017-09-01). IIRC the days before and after averaged to exactly the same amount of stakes.

Okay, I admit my rough estimation was too rough. But the current net weight staying low because the buggy windows wallet crashes all the time, people are too lazy to restart it, once it get fixed you will need far more than 300 bucks. I am afraid of what's gonna happen when team requirement will be no longer necessary... so in mine opinion v8 stake engine is not good and something new should be created.

[denravonska]

This will probably be the last time I try to explain this. You do NOT need $1000 worth of GRC to stake every day. With the current net weight you are estimated to stake daily with a balance of 10k GRC, which is closer to $322. If you actually have a need to stake daily. If you can get away with weekly staking you need $46 worth of GRC. Take a look at my stats for before and after V8 (2017-09-01). IIRC the days before and after averaged to exactly the same amount of stakes.

Okay, I admit my rough estimation was too rough. But the current net weight staying low because the buggy windows wallet crashes all the time, people are too lazy to restart it, once it get fixed you will need far more than 300 bucks. I am afraid of what's gonna happen when team requirement will be no longer necessary... so in mine opinion v8 stake engine is not good and something new should be created.

Good or not, it had to be released to tackle the security issues. And also, remember that before V8 you were stake competing against other peoples' mag. pomegranate currently has 12667 mag and dutch has 4562. Split either of their wallets into 1 GRC UTXOs and what's going to happen to the net weight? Or even just 100 UTXOs each? Additionally, most of the people I've talked to stake about as much as with V3.

The crashes (which were actually fallback restart attempts) have been fixed in the version which was just merged to staging for release test. I would be surprised if we even see a tiny increase in the net weight after it is released.

[erkan]

 I was contacted by the flyp.me team about their new exchange:

* convert from/to Gridcoin (seems like ShapeShift)

* they are private, accountless (no registration) and
* support 13 cryptocurrencies and 169 pairs.

read more at the Gridcoin task:

https://github.com/Erkan-Yilmaz/Gridcoin-tasks/issues/162

[QuintLeo]

This will probably be the last time I try to explain this. You do NOT need $1000 worth of GRC to stake every day. With the current net weight you are estimated to stake daily with a balance of 10k GRC, which is closer to $322. If you actually have a need to stake daily. If you can get away with weekly staking you need $46 worth of GRC. Take a look at my stats for before and after V8 (2017-09-01). IIRC the days before and after averaged to exactly the same amount of stakes.

Okay, I admit my rough estimation was too rough. But the current net weight staying low because the buggy windows wallet crashes all the time, people are too lazy to restart it, once it get fixed you will need far more than 300 bucks. I am afraid of what's gonna happen when team requirement will be no longer necessary... so in mine opinion v8 stake engine is not good and something new should be created.

Good or not, it had to be released to tackle the security issues. And also, remember that before V8 you were stake competing against other peoples' mag. pomegranate currently has 12667 mag and dutch has 4562. Split either of their wallets into 1 GRC UTXOs and what's going to happen to the net weight? Or even just 100 UTXOs each? Additionally, most of the people I've talked to stake about as much as with V3.

The crashes (which were actually fallback restart attempts) have been fixed in the version which was just merged to staging for release test. I would be surprised if we even see a tiny increase in the net weight after it is released.

 I'm not worried about staking daily - but having to keep ANY coin around rather than being able to use it to pay electric bills or fund expansion is VERY irritating - and having to keep weeks or months worth of coin on hand to even manage to stake once in a WEEK is excessive.

 That's speaking as one of the biggest Gridcoin earners in existence (Like I said, I'm Top 15 on magnitude) - folks that only pull in a couple coins a day ARE going to need years worth of income to stake more often than the "6 month cutoff" which is a TOTAL WASTE for them.


 The point is that the whole "have to keep tons of GRC around just to be ABLE to get paid for your RESEARCH WORK" is total violation of the whole basic concept that Gridcoin is supposed to be SUPPORTING THE RESEARCHERS.

[SwedishGirl]

Gridcoin looked so promising but then price dropped and it was only decreasing and decreasing. I am not sure if I should buy more coins or just sell what I already have. What do you think guys?

[enzo94vt]

The price is bound to rise, this is a period of high volatility for all currencies. If you need to invest on it, you have to evaluate the project. Gridcoin has absolutely no flaw on this.




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Apologize for my English, I use the support of an automatic translator (deepl.com) to write here

[trumpman]

Gridcoin looked so promising but then price dropped and it was only decreasing and decreasing. I am not sure if I should buy more coins or just sell what I already have. What do you think guys?

My honest opinion is to hodl. Look the new design of the website! Look the new design of the reddit sub! We just hit the #1 spot at boinc stats (see https://steemit.com/gridcoin/@scalextrix/team-gridcoin-is-1-on-boincstats). So many news are coming up every day. Some big, some small but they all add up!

Do you feel this project is dead or more alive than ever? True price went down, but in satoshits it's been very stable for like two months now, and double to what it was a  year ago. If this was a dead project I would tell you to sell. But now I think your best best bet is to hodl.

[denravonska]

Good or not, it had to be released to tackle the security issues. And also, remember that before V8 you were stake competing against other peoples' mag. pomegranate currently has 12667 mag and dutch has 4562. Split either of their wallets into 1 GRC UTXOs and what's going to happen to the net weight? Or even just 100 UTXOs each? Additionally, most of the people I've talked to stake about as much as with V3.

The crashes (which were actually fallback restart attempts) have been fixed in the version which was just merged to staging for release test. I would be surprised if we even see a tiny increase in the net weight after it is released.

 I'm not worried about staking daily - but having to keep ANY coin around rather than being able to use it to pay electric bills or fund expansion is VERY irritating - and having to keep weeks or months worth of coin on hand to even manage to stake once in a WEEK is excessive.

 That's speaking as one of the biggest Gridcoin earners in existence (Like I said, I'm Top 15 on magnitude) - folks that only pull in a couple coins a day ARE going to need years worth of income to stake more often than the "6 month cutoff" which is a TOTAL WASTE for them.


 The point is that the whole "have to keep tons of GRC around just to be ABLE to get paid for your RESEARCH WORK" is total violation of the whole basic concept that Gridcoin is supposed to be SUPPORTING THE RESEARCHERS.

That I agree on. Personally I'm not too fond of the whole PoR+PoS marriage either and I would also like to see a more streamlined way to reward the researchers, but we need to reach a consensus on where to go from here. Like I said, there are several proposals being worked on, for example staking with your beacon, dividing your mag up to all UTXOs connected to your beacon address, or simply rewarding all researchers in superblocks.

Btw, with your mag out of the network stake weight it probably got easier for small researchers to stake with V8

[enzo94vt]

The wallet is about to be renewed!

https://github.com/gridcoin/Gridcoin-Research/pull/628

[erkan]

I hope all the Gridcoin users whose wallets crash/freeze also can laugh about this :-(

#yesterdayPublicDevChat

https://twitter.com/GridcoinIRC/status/910117874194370560

[denravonska]

I hope all the Gridcoin users whose wallets crash/freeze also can laugh about this :-(

#yesterdayPublicDevChat

https://twitter.com/GridcoinIRC/status/910117874194370560

https://user-images.githubusercontent.com/642286/30592580-9d413fdc-9d47-11e7-8a6c-aecbb136b2c7.png

Also, on a more positive note (which erkan also knows about), the problem with the crashes in Windows wallets has been fixed in the upcoming version: https://steemit.com/gridcoin/@peppernrino/gridcoin-wallet-v3-6-2-0-teaser

[trumpman]

I hope all the Gridcoin users whose wallets crash/freeze also can laugh about this :-(

#yesterdayPublicDevChat

https://twitter.com/GridcoinIRC/status/910117874194370560

That was a good one 

I know it's anecdotal but I have had no wallet issues for like 6 months that now.

[QuintLeo]

Btw, with your mag out of the network stake weight it probably got easier for small researchers to stake with V8

 No clue what you mean by that?

Unlike Curecoin/Foldingcoin (where one of the DEVELOPERS is actively working to depress the profitability through his actions to the point of driving folders AWAY including ME over the next couple days), I'm still active in Gridcoin/BOINC.

 I wonder how Moo folks would feel if I pointed my Folding farm at BOINC for a few days..... 9-)

[denravonska]

Btw, with your mag out of the network stake weight it probably got easier for small researchers to stake with V8

 No clue what you mean by that?

With the previous stake engine researchers with high mag brought the difficulty (and thus approximated network stake weight) way way up due to the mag stake multiplication issue. This made it harder for small researchers to stake since they were not only competing against the large holders but also the multiplied large maggers. If that makes sense.

Unlike Curecoin/Foldingcoin (where one of the DEVELOPERS is actively working to depress the profitability through his actions to the point of driving folders AWAY including ME over the next couple days), I'm still active in Gridcoin/BOINC.

 I wonder how Moo folks would feel if I pointed my Folding farm at BOINC for a few days..... 9-)

Now is a great time to be a part of Gridcoin. The wallet development is booming and there is a ton of future improvements being discussed. Anything from the rebranding to porting the NeuralNet to Linux and improving it.

[QuintLeo]

Btw, with your mag out of the network stake weight it probably got easier for small researchers to stake with V8

 No clue what you mean by that?

With the previous stake engine researchers with high mag brought the difficulty (and thus approximated network stake weight) way way up due to the mag stake multiplication issue. This made it harder for small researchers to stake since they were not only competing against the large holders but also the multiplied large maggers. If that makes sense.

 OK, I can see that as being a good thing for the smaller participants in a way, but having to have YEARS worth of their average monthly earnings tied up "staking" just to get a payout once a month or so for the small folks STILL seems like a very bad idea and contradictory to the CORE stated intent of Gridcoin to "support BOINC research".

[denravonska]

With the previous stake engine researchers with high mag brought the difficulty (and thus approximated network stake weight) way way up due to the mag stake multiplication issue. This made it harder for small researchers to stake since they were not only competing against the large holders but also the multiplied large maggers. If that makes sense.

 OK, I can see that as being a good thing for the smaller participants in a way, but having to have YEARS worth of their average monthly earnings tied up "staking" just to get a payout once a month or so for the small folks STILL seems like a very bad idea and contradictory to the CORE stated intent of Gridcoin to "support BOINC research".

That is indeed less than ideal. Hopefully we can reach an agreement soon on which route to take so we can start working.

[Digitaleconomy]

Excelente fase do projeto !!!