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

[aysyr]

We do hope to have it there someday haha. But first we have to get the client and everything cleaned up and find a way to reward miners who are contributing exclusively to BOINC and not the network. THEN can we try to get it there since no matter how big/small the rig is they can get rewarded, but that's still in the works.

Mean time, I put together a forum yesterday if you guys want to check it out! There's no members there yet unfortunately and the boards are still empty, but it's ours

www.gridcoinforum.com

[traderman]

Nice, I just registered.

We do hope to have it there someday haha. But first we have to get the client and everything cleaned up and find a way to reward miners who are contributing exclusively to BOINC and not the network. THEN can we try to get it there since no matter how big/small the rig is they can get rewarded, but that's still in the works.

Mean time, I put together a forum yesterday if you guys want to check it out! There's no members there yet unfortunately and the boards are still empty, but it's ours

www.gridcoinforum.com

[Conqueror]

Me too  

It feels like GRC is still good coin to solo mine with 1 cheap GPU  
Today I have 6x150 with one HD7790 solo mining...

Jump on board fast!

[traderman]

Ye the difficulty is still so low that you can get some decent coins right now.

Me too  

It feels like GRC is still good coin to solo mine with 1 cheap GPU  
Today I have 6x150 with one HD7790 solo mining...

Jump on board fast!

[Conqueror]

I am giving away 250GRC, 10GRC/person.


Take a bite:
http://gridcoinforum.com/index.php/topic,8.0.html

[Gridcoin]

Coming Soon:

[traderman]

WOW Very nice, looks really great.

Coming Soon:

[Conqueror]

^^^^^^^^
  wow! 

[aysyr]

Hope you're having a good weekend Grid Be sure to post once or twice every few days in our new forums

Once Gridcoin is accepted in exchanges I'm going to sell some and switch hosts because it seems like every couple of ours it goes down for a few minutes for whatever reasons lol.

[Gridcoin]

All,

We are all contributing to good causes by donating our computing power to boinc, and what a fun way to do it by adding those functions into a coin and doing both at the same time?

If Bitcoin is worth $390 a coin, we have a lot of latitude here to move all of the LTC power consuming machines over to gridcoin.

I just want to say thank you all for your support and I am committed 100% to staying behind the development on this project and together we will make this a success!

Please note that the forums listed at the top of this thread are still the official places to find new information related to this coin and I don't want to confuse anyone.

We do not have a pool web site partner, because you cannot pool mine gridcoin through a pool, but we do have the integrated in-client pool mining system.

If/when we create a dedicated gridcoin forum you will be notified of the official release HERE on this forum or on our other partner forum listed under FORUMS in the coin release information.  As for now we are in our growth stage, and would like people to spread the word as far as using this coin while running boinc- to send GRC to other countries (competing with Western Union) and bringing new miners over to GRC.

We are also expirimenting with new algorithms that may allow a distribution of compensation among Boinc-cpu only users, boinc+gpu miners, and boinc+boinc gpu+gpu miners, more on that later.

Take care.
Grid

[traderman]

The in-client pool mining is pretty cool. Definitely some new innovation there and a great way for Gridcoin to distinguish itself from all the others. Great work Grid!!

All,

We are all contributing to good causes by donating our computing power to boinc, and what a fun way to do it by adding those functions into a coin and doing both at the same time?

If Bitcoin is worth $390 a coin, we have a lot of latitude here to move all of the LTC power consuming machines over to gridcoin.

I just want to say thank you all for your support and I am committed 100% to staying behind the development on this project and together we will make this a success!

Please note that the forums listed at the top of this thread are still the official places to find new information related to this coin and I don't want to confuse anyone.

We do not have a pool web site partner, because you cannot pool mine gridcoin through a pool, but we do have the integrated in-client pool mining system.

If/when we create a dedicated gridcoin forum you will be notified of the official release HERE on this forum or on our other partner forum listed under FORUMS in the coin release information.  As for now we are in our growth stage, and would like people to spread the word as far as using this coin while running boinc- to send GRC to other countries (competing with Western Union) and bringing new miners over to GRC.

We are also expirimenting with new algorithms that may allow a distribution of compensation among Boinc-cpu only users, boinc+gpu miners, and boinc+boinc gpu+gpu miners, more on that later.

Take care.
Grid

[C. Bergmann]

When you bring your coins on the market, I will buy some

I like your idea. Great, I always wished someone will bring the power of the bitcoin netwoirk to a usefull purpose. I hope you succeed!

Your project could make a lot of scientist to fall in love with cryptocurrencies.

As someone with no background in IT, I have a question, which may seem stupid: Why is it not possible to spend the whole mining-power in Boinc or some other scientific operation (brain-mapping, lattice gauge, clima) or some engineering-operations (simulation ...)?

Do you have scientist from berkely on board?

[traderman]

Because if you dedicate all power to scientific project people will not participate as much. I hate to say it, but the only way for mass amount of people to want to run Boinc is to provide immediate financial incentive. Otherwise people either forget or just loose interest over time.

When you bring your coins on the market, I will buy some

I like your idea. Great, I always wished someone will bring the power of the bitcoin netwoirk to a usefull purpose. I hope you succeed!

Your project could make a lot of scientist to fall in love with cryptocurrencies.

As someone with no background in IT, I have a question, which may seem stupid: Why is it not possible to spend the whole mining-power in Boinc or some other scientific operation (brain-mapping, lattice gauge, clima) or some engineering-operations (simulation ...)?

Do you have scientist from berkely on board?

[C. Bergmann]

Yea, but why do they have to hash to receive coins? Why can't the do some other gpu-operations like monte-carlo-simulation or anything else to solve a block?

[rumlazy]

This coin deserves more recognition!

[aysyr]

Yea, but why do they have to hash to receive coins? Why can't the do some other gpu-operations like monte-carlo-simulation or anything else to solve a block?

The reason it isn't wise to do that is because the transactions have no strong source of verification. PoW is still solely the most secure way to make sure transactions are legitimate. That's why we're hoping to eventually get to the point where 50% of power goes to research and 50% of power goes to keeping the chain secure.

[traderman]

Ye I agree. If this coin becomes more widely used we can see some serious scientific breakthroughs. I can't even imagine what the results can be.

This coin deserves more recognition!

[traderman]

A 50/50 split would be great, I am not sure if it will work out like that, but it would be idea of that is the case long term.

Yea, but why do they have to hash to receive coins? Why can't the do some other gpu-operations like monte-carlo-simulation or anything else to solve a block?

The reason it isn't wise to do that is because the transactions have no strong source of verification. PoW is still solely the most secure way to make sure transactions are legitimate. That's why we're hoping to eventually get to the point where 50% of power goes to research and 50% of power goes to keeping the chain secure.

[Gridcoin]

Yes, the Proof Of Work is necessary to keep a perpetrator from quickly constructing a block of falsified transactions, inserting the block in the chain somewhere and trying to spend the mining subsidy or double spend etc.  With PoW every block is related to every prior block so it is too hard computationally to reconstruct N number of blocks starting back more than one prior. 

But one thing that we have discovered that can add potential boinc efficiency to this system is the integrated pool mining with more features.  If we have 100 users running boinc, and 50 miners, if they are all part of the pool it may be theoretically possible to give some compenstation to the 50 who are boincing who are not mining when any miner finds a block (IE payments go to all pool members, membership is disassociated with mining per se).  That would lead to a boinc wattage efficiency that is much higher than mining+boinc.  But before any of that is possible the CPU users would have to go through a different PoW to prove they deserve to be in the pool, etc.  Unless those users are compensated out of a different "pot" per se, IE the miners still receive 150 GRC split N ways, and the Boinc users doing a separate PoW algo are compensated by the pool but not out of the pools funds.  Just throwing ideas out there.

Preston Keys

[traderman]

It seems best just to split the 150 GRC between everyone who contributed to the mining of that particular block. Seems most simple.

Yes, the Proof Of Work is necessary to keep a perpetrator from quickly constructing a block of falsified transactions, inserting the block in the chain somewhere and trying to spend the mining subsidy or double spend etc.  With PoW every block is related to every prior block so it is too hard computationally to reconstruct N number of blocks starting back more than one prior. 

But one thing that we have discovered that can add potential boinc efficiency to this system is the integrated pool mining with more features.  If we have 100 users running boinc, and 50 miners, if they are all part of the pool it may be theoretically possible to give some compenstation to the 50 who are boincing who are not mining when any miner finds a block (IE payments go to all pool members, membership is disassociated with mining per se).  That would lead to a boinc wattage efficiency that is much higher than mining+boinc.  But before any of that is possible the CPU users would have to go through a different PoW to prove they deserve to be in the pool, etc.  Unless those users are compensated out of a different "pot" per se, IE the miners still receive 150 GRC split N ways, and the Boinc users doing a separate PoW algo are compensated by the pool but not out of the pools funds.  Just throwing ideas out there.

Preston Keys