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

[traderman]

You have 6 months to burn your GRC from classic to POR GRC. I suggest you do it soon so you can start staking because the reward and the interest rate drops on a monthly basis.

Hi guys! Only now i noticed all this BIG changes to GRC. Downloaded and installed new PoR wallet, but there is some mess (question marks everywhere). How can i fix this? I tried to change language in prefs - no effect. NWM, fixed it.


Also. I can't understand - if i have some amount of GRC on c-cex, is it necessarily to make all that "Burn" operations, or not?
Thank you!

[1714906549]

1714906549

[1714906549]

1714906549

[traderman]

There are people staking hundreds of thousands of coins and the difficlty for POR has gone up quite a bit over the past few days. You need a few thousand GRC at least!

The difficulty for POR GRC was bellow 1 yesterday and today it is already 2.5+ and it will probably go higher as more and more people stake even more.

Hi guys! Only now i noticed all this BIG changes to GRC. Downloaded and installed new PoR wallet, but there is some mess (question marks everywhere). How can i fix this? I tried to change language in prefs - no effect. NWM, fixed it.


Also. I can't understand - if i have some amount of GRC on c-cex, is it necessarily to make all that "Burn" operations, or not?
Thank you!

PoR doesn't work properly! I am using several machines to compute, and I've got no coins from it but the staking "time to reward" grows, now it's 1000 days. GPU computing doesn't work at all (I'm using the newest Ubuntu for testing it). A lot of things should be done before the opthymism on exchanges. The PoR is thought to be a stable way of earning or a short-term pump and dump? I hope the first, that's why I say what I say.

[mirny]

One simple question.
Do I need to run wallet on every computer where is Boinc running?

[traderman]

No that is not necessary, you can run your wallet just on one pc!

One simple question.
Do I need to run wallet on every computer where is Boinc running?

[mirny]

Thank you, for quick reply.

[zulzedd]

Ty, traderman! As always - fast and detailed response
As i can see, there are no GPU mining now (scrypt/SHA-256 etc. mining i mean). So no need to configure cgminer or anything like that, i'm right? (i can't access wiki, sorry)

[A L I E N]

Ty, traderman! As always - fast and detailed response
As i can see, there are no GPU mining now (scrypt/SHA-256 etc. mining i mean). So no need to configure cgminer or anything like that, i'm right? (i can't access wiki, sorry)

That's correct, your minting POR reward will be based on your BOINC contribution with no other hashing!

[burner2014]

Is there any Exchange for Gridcoin 2 ? Why isn't it again on Bittrex?

What is the progress here?

[Sparood]

Is there any Exchange for Gridcoin 2 ? Why isn't it again on Bittrex?

What is the progress here?

Classic gridcoin will most likely retire by the end of this week. Polo, C-cex and Swisscex will al stop trading Gridcoin classic by then. The ticker will change to GRCX.
These exchanges will all add Gridcoinresearch as soon as the client is stable enough to be released to them. Right now Rob is still working on a few tweaks, latest estimate I have seen is Friday. Obviously the client has to be absolutely stable to be released.
When this happens we can start tweeting Bittrex some more and launch a campaign to get us added. I have been tweeting them regularly over the last weeks just to get our name to stick.

[alicea]

It becomes a typical PoS for old GRC users, not a fair PoR for those who make useful computations on boinc :/

There are people staking hundreds of thousands of coins and the difficlty for POR has gone up quite a bit over the past few days. You need a few thousand GRC at least!

The difficulty for POR GRC was bellow 1 yesterday and today it is already 2.5+ and it will probably go higher as more and more people stake even more.

Hi guys! Only now i noticed all this BIG changes to GRC. Downloaded and installed new PoR wallet, but there is some mess (question marks everywhere). How can i fix this? I tried to change language in prefs - no effect. NWM, fixed it.


Also. I can't understand - if i have some amount of GRC on c-cex, is it necessarily to make all that "Burn" operations, or not?
Thank you!

PoR doesn't work properly! I am using several machines to compute, and I've got no coins from it but the staking "time to reward" grows, now it's 1000 days. GPU computing doesn't work at all (I'm using the newest Ubuntu for testing it). A lot of things should be done before the opthymism on exchanges. The PoR is thought to be a stable way of earning or a short-term pump and dump? I hope the first, that's why I say what I say.

[Sparood]

There have been a lot of discussions on the fairness of the reward schedule. I see coins having a weeklong PoW phase before switching to PoS. That's what I would call unfair.
The reward in gridcoin will never drop below 50. If you haven't gotten in earlier, now is a great time to become involved since I think you are still early on in the game.

Have a look at the post discussing the final reward. I think it might change your perspective.

https://cryptocointalk.com/topic/18080-poll-gridcoin-research-post-may-2015-reward-subisdy-survey/

[asdlolciterquit]

Gridcoin just up 130% on c-cex. Placed 36th on coinmarketcap now!

Great!

can't wait to see the price of the new gridcoin!

[pallas]

So PoR is just PoS with a reward based on boinc RAC? Correct?
That's not what I expected... RAC (or whatever boinc index) should determine the probability of mining a block, not the stakepower, IMHO.

[pallas]

For POR you need coins in your account that are "staked". This is not like POW where you find blocks with actual hashing!! Do you understand that? You either need to convert old GRC classic to new POR GRC or you have to wait till the around the 20th of October when the POR GRC starts trading on the exchanges and get some POR GRC  so you can start staking in your wallet!! IF you have no coins right now in your POR wallet you will not receive anything!! You need to have coins in your POR wallet!!

This wasn't clear to me as well. The wallet says "boinc mining" and it's not true.
Also it's a pity I have compiled, installed, worked on it and boinc-end and I'll not get anything for days, cause I need to have stake power for a coin which currently I can't buy.
Not everybody's been following the coin for months.
I've gotten in a couple weeks ago and read a lot of docs, but I didn't notice that for POR I need POS, and it seems I'm not the only one.

To be an early adopter is never easy
We offer free startercoins on http://uscore.net

doesn't work: I didn't receive anything.

[Sparood]

So PoR is just PoS with a reward based on boinc RAC? Correct?
That's not what I expected... RAC (or whatever boinc index) should determine the probability of mining a block, not the stakepower, IMHO.

No the payout is based on your BOINC contribution. Next to this there is also "normal" interest for those who do not run BOINC, which you will also receive if you are running it.

http://coinwiki.info/en/Proof-of-Research#Gridcoin-Research_Reward_Calculation_Example

[pallas]

So PoR is just PoS with a reward based on boinc RAC? Correct?
That's not what I expected... RAC (or whatever boinc index) should determine the probability of mining a block, not the stakepower, IMHO.

No the payout is based on your BOINC contribution. Next to this there is also "normal" interest for those who do not run BOINC, which you will also receive if you are running it.

http://coinwiki.info/en/Proof-of-Research#Gridcoin-Research_Reward_Calculation_Example

That's what I was saying: RAC makes reward but I'm talking about the probability of finding blocks.
I can have a good RAC but not find any blocks because my stakeweight is low (as any newbie to the coin trying to mine it).

[alicea]

So PoR is just PoS with a reward based on boinc RAC? Correct?
That's not what I expected... RAC (or whatever boinc index) should determine the probability of mining a block, not the stakepower, IMHO.

No the payout is based on your BOINC contribution. Next to this there is also "normal" interest for those who do not run BOINC, which you will also receive if you are running it.

http://coinwiki.info/en/Proof-of-Research#Gridcoin-Research_Reward_Calculation_Example

If there's the payout based on BOINC contribution (not a PoS interest), write it in short and clear words what to do to receive it. I don't mean the graph showing how it will look like next year, but the very simple question: a person contributes computation power to boinc, what he/she must do to receive the payout based on boinc contribution? And when the payout should appear (up to 2 days as in RSC/CURE or when?)?

[anonerd]

So PoR is just PoS with a reward based on boinc RAC? Correct?
That's not what I expected... RAC (or whatever boinc index) should determine the probability of mining a block, not the stakepower, IMHO.

No the payout is based on your BOINC contribution. Next to this there is also "normal" interest for those who do not run BOINC, which you will also receive if you are running it.

http://coinwiki.info/en/Proof-of-Research#Gridcoin-Research_Reward_Calculation_Example

That's what I was saying: RAC makes reward but I'm talking about the probability of finding blocks.
I can have a good RAC but not find any blocks because my stakeweight is low (as any newbie to the coin trying to mine it).

As someone has to provide trust in order to stay decentralized, we chose to let bagholders secure the network while BOINCers
are rewarded proportional to their useful computations.
Solving blocks is more frequent with growing stake, but the payout stays miniscule as long as you don't work for sience.
At the same time we boost new comers (i.e. low stakers) by a probability multiplier to favour them in earning their blocks!

[Berkson22]

Can someone explain how Staking works.
Will i receive interest if for the past 3 days my Stake was "Stake=0.0" ?
Why it stays 0 all the time i dont get, is that important?

[pallas]

So PoR is just PoS with a reward based on boinc RAC? Correct?
That's not what I expected... RAC (or whatever boinc index) should determine the probability of mining a block, not the stakepower, IMHO.

No the payout is based on your BOINC contribution. Next to this there is also "normal" interest for those who do not run BOINC, which you will also receive if you are running it.

http://coinwiki.info/en/Proof-of-Research#Gridcoin-Research_Reward_Calculation_Example

That's what I was saying: RAC makes reward but I'm talking about the probability of finding blocks.
I can have a good RAC but not find any blocks because my stakeweight is low (as any newbie to the coin trying to mine it).

As someone has to provide trust in order to stay decentralized, we chose to let bagholders secure the network while BOINCers
are rewarded proportional to their useful computations.
Solving blocks is more frequent with growing stake, but the payout stays miniscule as long as you don't work for sience.
At the same time we boost new comers (i.e. low stakers) by a probability multiplier to favour them in earning their blocks!

I see.
But please understand that a newbie trying to get into the coin by mining will have a hard time if, like in my case, he mines for 2 weeks without getting a single coin. He'll go away and maybe post some bad words on the forums.
I believe the probability of finding a block should also depend on RAC or, as an alternative, you should build a pool system so newcomers can get even little rewards, without waiting weeks for their stake to grow.