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

[heretolearn]

I see, I had missed that. I had assumed since the daemon compiled, downloaded the blockchain and accepted RPC calls it was working. That's what I get for assuming...

Haha nvm ... happens with all of us ... btw I quite agree with you views about price analysis ... but im holding some LTC too so I want it to go up too ... actually I think any coin that adopts a first approach to something is good IMHO .. like BTC, LTC, MSC, etc ... so those coins I don't have a problem with .. I have a problem with clones which are just meant for pump and dump. Nice analysis though

[TribalBob]

I see, I had missed that. I had assumed since the daemon compiled, downloaded the blockchain and accepted RPC calls it was working. That's what I get for assuming...

Haha nvm ... happens with all of us ... btw I quite agree with you views about price analysis ... but im holding some LTC too so I want it to go up too ... actually I think any coin that adopts a first approach to something is good IMHO .. like BTC, LTC, MSC, etc ... so those coins I don't have a problem with .. I have a problem with clones which are just meant for pump and dump. Nice analysis though

Thanks!   

I agree, I'm not a big fan of cut+paste clones (though I admit I have been guilty of profiting on the pump-n-dump of lesser coins) and any coin offering something new definitely deserves some respect/credit. At this point in the game though it takes more than a simple algorithm change to impress me (although BlakeCoin is fun because it lets me hash at 1.4 GH/s with my single 5870, but there's no real difference when everyone else has the same relative increase in hashing power as you do, lol).

[traderman]

+1.

The services that accept Gridcoin part is really important. If everyone in the community can provide some kind of service and accept Gridcoin, then that is the perfect
way to get people to know Gridcoin and what it is all about.

And yea one more thing : Hold your coins till atleast $10-15 (yea I know it will be too tempting to sell before that especially for early miners but if something like Vertcoin can go up to $8 then we can surely do way better considering the fact we are helping society too and not just producing hot air like other coins ).

Best of luck guys and resist the urge to sell for as long as you can

Lets do this.

10-15$ for 1GRC??

for now, 1GRC = 0,0536$.....

I really think we will do better than $10-$15. IMHO Gridcoin is more innovative and more beneficial than any other alt-coin currently in existence, to include Litecoin which is currently worth ~$20... If Litecoin can reach $20 when it offered nothing new from Bitcoin other than a cpu-friendly algorithm (which is the same algorithm being used by Gridcoin and many other alts) then gridcoin should easily surpass $20 simply based on the fact that it is one of the VERY few alt-coins to be truly different from it's counterparts/competitors.

Gridcoin is not a simple cut+paste clone, there is a LOT of new custom code that has been added to this client and it rewards you for making contributions that benefit humanity in many different areas of science, health and technology.

I also believe that with the Scrypt-sleep algorithm Gridcoin has the single most fair and even distribution system which is REALLY important to the success of an alt-coin. The point of the coin is to reward those who contribute the most to the research projects and the client does EXACTLY that since the more processing power you contribute to the projects the better your chance of being able to find a block.

Right now, the only thing holding back Gridcoin's popularity is that it's confusing to a lot of people who still don't grasp the full concept, have no idea what BOINC is, are intimidated by learning a new way to set-up mining a coin or are just too obsessed with the garbage alt-coin that they've been pump-n-dumping that they just don't bother to take the time.

What will really boost the value of Gridcoin is when there are services available that accept Gridcoin for payment. When there are goods/services available that people can spend their GRC on, that is when the price/volume will begin to really climb for Gridcoin trading as that is when it will catch the eye of day-traders. Right now there is no purpose to owning gridcoins other than to sell them, we need to create reasons for other people to buy them.

But I firmly believe that within a year we will see many new services accepting Gridcoin (some of which I am working on myself) and I believe that once those services start becoming available, Gridcoin will experience larger and more rapid growth than any other alt-coin to date.

[asdlolciterquit]

changed my sign!

[COINPRADER]

How would we do that?  I guess we could have a thread on the Gridcoin boards with what we offer... 
I am an accountant and can provide accounting and tax preparation in exchange for Gridcoins.  Just not sure where to "advertise" that.

+1.

The services that accept Gridcoin part is really important. If everyone in the community can provide some kind of service and accept Gridcoin, then that is the perfect
way to get people to know Gridcoin and what it is all about.

And yea one more thing : Hold your coins till atleast $10-15 (yea I know it will be too tempting to sell before that especially for early miners but if something like Vertcoin can go up to $8 then we can surely do way better considering the fact we are helping society too and not just producing hot air like other coins ).

Best of luck guys and resist the urge to sell for as long as you can

Lets do this.

10-15$ for 1GRC??

for now, 1GRC = 0,0536$.....

I really think we will do better than $10-$15. IMHO Gridcoin is more innovative and more beneficial than any other alt-coin currently in existence, to include Litecoin which is currently worth ~$20... If Litecoin can reach $20 when it offered nothing new from Bitcoin other than a cpu-friendly algorithm (which is the same algorithm being used by Gridcoin and many other alts) then gridcoin should easily surpass $20 simply based on the fact that it is one of the VERY few alt-coins to be truly different from it's counterparts/competitors.

Gridcoin is not a simple cut+paste clone, there is a LOT of new custom code that has been added to this client and it rewards you for making contributions that benefit humanity in many different areas of science, health and technology.

I also believe that with the Scrypt-sleep algorithm Gridcoin has the single most fair and even distribution system which is REALLY important to the success of an alt-coin. The point of the coin is to reward those who contribute the most to the research projects and the client does EXACTLY that since the more processing power you contribute to the projects the better your chance of being able to find a block.

Right now, the only thing holding back Gridcoin's popularity is that it's confusing to a lot of people who still don't grasp the full concept, have no idea what BOINC is, are intimidated by learning a new way to set-up mining a coin or are just too obsessed with the garbage alt-coin that they've been pump-n-dumping that they just don't bother to take the time.

What will really boost the value of Gridcoin is when there are services available that accept Gridcoin for payment. When there are goods/services available that people can spend their GRC on, that is when the price/volume will begin to really climb for Gridcoin trading as that is when it will catch the eye of day-traders. Right now there is no purpose to owning gridcoins other than to sell them, we need to create reasons for other people to buy them.

But I firmly believe that within a year we will see many new services accepting Gridcoin (some of which I am working on myself) and I believe that once those services start becoming available, Gridcoin will experience larger and more rapid growth than any other alt-coin to date.

[C. Bergmann]

I offer high quality english-german translation for gridcoin, if anybody is interested, just pm me.

I see it the same. Gridcoin maybe is the only virtual coin with some usage. I waited month bevore for something like this to achieve, and I am happy your network is growing despite all this technical difficulties ...

btw: I'd like to mine, but all my stupid writing/music/video-machines reach together at best 30kh ... any use in it?

[traderman]

Do cpu mining you can get 150 grc per day just for donating to Boinc, no hashing. Read the cpu mining guide: https://cryptocointalk.com/topic/1922-cpu-mining-tutorialtopic/

I think we should create a Gridcoin marketplace and everyone can post what they can do and how much they want to charge for it.

I offer high quality english-german translation for gridcoin, if anybody is interested, just pm me.

I see it the same. Gridcoin maybe is the only virtual coin with some usage. I waited month bevore for something like this to achieve, and I am happy your network is growing despite all this technical difficulties ...

btw: I'd like to mine, but all my stupid writing/music/video-machines reach together at best 30kh ... any use in it?

[sakkosekk]

Do cpu mining you can get 150 grc per day just for donating to Boinc, no hashing. Read the cpu mining guide: https://cryptocointalk.com/topic/1922-cpu-mining-tutorialtopic/

I think we should create a Gridcoin marketplace and everyone can post what they can do and how much they want to charge for it.

Good idea, providing services for Gridcoin will get us some traction.

[C. Bergmann]

Do cpu mining you can get 150 grc per day just for donating to Boinc, no hashing. Read the cpu mining guide: https://cryptocointalk.com/topic/1922-cpu-mining-tutorialtopic/

thanks for the advice. The 150 grc don't depend on the power of my cpu?

[traderman]

I do rosetta@home, you should try that. What kind of cpu do you have?

Do cpu mining you can get 150 grc per day just for donating to Boinc, no hashing. Read the cpu mining guide: https://cryptocointalk.com/topic/1922-cpu-mining-tutorialtopic/

thanks for the advice. The 150 grc don't depend on the power of my cpu?

[C. Bergmann]

I have some ... Intel 3,3 ghz, Intel 2,8 ghz ...

I do rosetta@home, you should try that. What kind of cpu do you have?

Do cpu mining you can get 150 grc per day just for donating to Boinc, no hashing. Read the cpu mining guide: https://cryptocointalk.com/topic/1922-cpu-mining-tutorialtopic/

thanks for the advice. The 150 grc don't depend on the power of my cpu?

[datguyian]

I have a question. Am I right in assuming that the only way GRC's client takes your daily credits into consideration is if you're using one of the 5 projects listed in the console?  Compatibility with worldcommunitygrid would be great, too. I was initially using WCG until the daily credit consideration came into play, and would like to go back to using this. If I'm reading into this right, WCG will only work if either:

A) You use WCG in addition to other projects listed in order to get full 100% credit for mined blocks.
B) Use WCG but only receive 50% credit for mined blocks, since the only thing the GRC client will see is your CPU/Memory utilization.

Maybe I'm missing something here, but if I'm not, then I think this should be addressed and modified to (at the very least) include WCG, but even more preferable to me would be the ability to choose at least from the majority of the projects, if not all of them. I like all of the Boinc projects and realize they're all for good causes, but I would kind of prefer to use my boinc power for at least 2 or 3 other projects that are not currently supported. As far as WCG goes, it seems like a large majority of Boinc users use WCG, so I think this would help GRC appeal to more Boinc users.

[traderman]

The projects listed in the "projects console" are the ones you can cpu mine, the ones where you get max 150 grc per day just for donating computational power, not hashing.

I have a question. Am I right in assuming that the only way GRC's client takes your daily credits into consideration is if you're using one of the 5 projects listed in the console?  Compatibility with worldcommunitygrid would be great, too. I was initially using WCG until the daily credit consideration came into play, and would like to go back to using this. If I'm reading into this right, WCG will only work if either:

A) You use WCG in addition to other projects listed in order to get full 100% credit for mined blocks.
B) Use WCG but only receive 50% credit for mined blocks, since the only thing the GRC client will see is your CPU/Memory utilization.

Maybe I'm missing something here, but if I'm not, then I think this should be addressed and modified to (at the very least) include WCG, but even more preferable to me would be the ability to choose at least from the majority of the projects, if not all of them. I like all of the Boinc projects and realize they're all for good causes, but I would kind of prefer to use my boinc power for at least 2 or 3 other projects that are not currently supported. As far as WCG goes, it seems like a large majority of Boinc users use WCG, so I think this would help GRC appeal to more Boinc users.

[anonerd]

Hey Guys,

I love the idea of a network that pushes humanity for the good.
So, I would like to contribute to the marketing part to foster the acceptance of GRC.
I like to offer my time to aggregate and collect what is going on in promotion:

https://bitcointalk.org/index.php?topic=452322

This is still an early draft. What is out there that I am missing?

[Inrideo]

Another place to submit Gridcoin for consideration

https://cryptorush.in/index.php?p=list-your-coin

[traderman]

Remember to vote here too: http://www.allcrypt.com/beta/voting.php You can click the up vote 10 times in 24 hours!!

[Inrideo]

I wonder if the lack of (GPU) pool mining is affecting visibility.

[zulzedd]

And yea one more thing : Hold your coins till atleast $10-15 (yea I know it will be too tempting to sell before that especially for early miners but if something like Vertcoin can go up to $8 then we can surely do way better considering the fact we are helping society too and not just producing hot air like other coins ).

Best of luck guys and resist the urge to sell for as long as you can

Lets do this.

10-15$, while everyone of us gets 150 GRC per day for BOINC mining which is independent from GPU hashing power and coin diff? It is doubtful :\
For example i have Intel Q6600, which costs $150.00 and i get 150 GRC each day with it. And even 2 times cheaper CPU will give same 150 GRC.

[heretolearn]

10-15$, while everyone of us gets 150 GRC per day for BOINC mining which is independent from GPU hashing power and coin diff? It is doubtful :\
For example i have Intel Q6600, which costs $150.00 and i get 150 GRC each day with it. And even 2 times cheaper CPU will give same 150 GRC.

I was under the impression there is a cap on the max number of cpu miners of about 576 or so . So after that they start competing among themselves. Correct me if I am wrong on that please.

Also still hope for us .. look at Vertcoin and Maxcoin .. I don't think they have any utility vlue yet they have made it based on just a change in algo + a good marketing strategy. So I think we have good chances of getting to that level if we all decide to hold.

What I am imagining is a whole lot of miners putting their power to help science (and as a result prices would go up too). Lets see only time will tell .. but I won't give up on being positive about it .

[andrewp]

10-15$, while everyone of us gets 150 GRC per day for BOINC mining which is independent from GPU hashing power and coin diff? It is doubtful :\
For example i have Intel Q6600, which costs $150.00 and i get 150 GRC each day with it. And even 2 times cheaper CPU will give same 150 GRC.

I was under the impression there is a cap on the max number of cpu miners of about 576 or so . So after that they start competing among themselves. Correct me if I am wrong on that please.

Also still hope for us .. look at Vertcoin and Maxcoin .. I don't think they have any utility vlue yet they have made it based on just a change in algo + a good marketing strategy. So I think we have good chances of getting to that level if we all decide to hold.

What I am imagining is a whole lot of miners putting their power to help science (and as a result prices would go up too). Lets see only time will tell .. but I won't give up on being positive about it .

Hi,

Yes, there is a 576 BOINC blocks a day cap.  As Rob explained it is 576 because the number of GPU blocks per day is too ~ 576.(2.5 minutes per block) So the GPU and CPU(BOINC) mining systems do generate the same amount of GRC.

Since 128 BOINC miners started mining, their average credits started to play role in how much GRC will they get in a day. So it will get increasingly difficult to get the full 150 GRC/day and it will need faster, better and more cpus to reach in the future.
At this moment we have over 550 BOINC miners, so very close to reaching the payout cap.

I think, that with the BOINC mining it is the same as with GPU mining. Miners will need to get better hw to keep up with the competition and the price can easily go really high.

Andrew.