So you guys definitely do not know what created September price hike?
We have some thoughts, but nothing is definite. As far as anyone knows, it could be the US government using confiscated bitcoins to help boost participation in DCN research they seed through the NIH and NSF. Pande Lab and Folding@home receive NIH and NSF funding, while BOINC no longer does, but many of its underlying projects do. If you’ve notice, all three science coins (CURE, FLDC and GRC) got a significant boost, so whomever it is, they are NOT playing favorites.
I'm sure every coin has approached people like Mark Cuban and other members of the Shark Tank ... could be one of them. Cuban doesn't believe in bitcoin, but appreciates "the blockchain".
Ummm ... Paul Allen?
It's anyone's guess really :-)
I myself have no idea how is the monetization of Curecoin possible in the first place. I thought that the value of Curecoin comes from people who buy Curecoin for $$$ and then donate them to Curecoin project.
Is that correct?
I would start by trying Stanford’s Folding@home software for yourself to see how the Work Units are processed on your own computer, and sent back to Stanford for evaluation.
http://folding.stanford.edu/You’re not alone in the assumption CureCoin is a donation based system.
The answer is simply "NO"! 76% of the the value of curecoin is derived from our team member’s actually participating in Folding@home and letting their PCs and Macs contribute computing cycles to the underlying medical research. The more people participate in CureCoin, the more computational cycles each curecoin represents (and the value theoretically goes higher).
Here’s how the coins are divided:
https://www.curecoin.net/knowledge-base/14-knowledge-base/about-curecoin/16-how-is-the-currency-divided-upIf you want to see where Protein Folding research comes into the FDA drug approval process (the one recognized in practically every country on earth), read this CureCoin article:
https://www.curecoin.net/2-uncategorised/84-curecoin-two-year-ann-focus-on-scienceWe do collect donations for up to five different charities, as well as funds that help the CureCoin core developers maintain the folding pool, websites and social media presence.
In the near future, we will actually allow donors to contribute directly to cloud folding - more on that in an upcoming announcement.
I understand why Bitcoin for example can be monetized: people buy Bitcoin for $$$ and use them to buy stuff on Darknet or pay cryptoware ransoms. And there are chinese billionaires who need to move their billions out of the country so they buy Bitcoins in China and exchange them for dollars out of China. So suddenly bits of ones and zeros called Bitcoins have monetary value.
There are dark aspects to any new commodity/property - some physical commodities like gold, silver and diamonds share the same dark moral undertones. Now China is hoarding rare-earth minerals in order to stay competitive.
The bits of 1s and 0s that are part of any cryptocurrency (generated by the HashCash mining algorithm for bitcoin) are not easily produced. Neither are the Work Units produced by protein folders. That’s why we attempt to equate the 1s and 0s to medical research rather than purely “securing the network” via SHA-256 (HashCash) mining alone. Just like bitcoin or Ethereum, Curecoin includes a “controlled supply”. Which means the there are block reward halving periods every 4 years to account for Moore’s law.
As to what you can buy outside of peer-to-peer transactions with CURE (where you actually have consumer protections)? There are altcoin markets being created on systems like
www.Coinpayments.net (which allow any business to register to accept CureCoins). There’s a modest but growing market there.
I understand that altcoins like Ethereum/Libry/Monero have some specific features that make people buy them instead Bitcoin.
But who buys Cure for $$$? Who wants Cure? How is it possible it can be exchanged for Bitcoins and then those Bitcoins exchanged for $$$?
CureCoin’s value proposition comes from the underlying computational biology research and the ability of the currency to maintain security. Right now CureCoin produces about 10-12% of all computations on the Folding@home network. This equates to about 10 petaFLOPS of medical computation research. If you convert that into running those protein simulations on a supercomputer, it equates to multi-millions of dollars per year of computing power:
https://www.linkedin.com/pulse/what-top-producing-foldinghome-teams-like-curecoin-used-ivan-tumaAbout 19% of all CureCoin includes coins produced by the HashCash Proof-of-Work mining algorithm (like bitcoin) in order to help secure our network (although similar to PeerCoin, we also have very broad Proof-of-Stake participation to secure the network - the CureCoin QT-wallet holders earn something akin to “interest” based on how many coins they hold).
As to who buys or who wants CureCoin? People who believe in a better world. They believe the coin will develop greater value in the future as the accelerated research leads to more efficacy in drug compounds, personalized medicines, custom enzymes and nanotechnology.
Incidentally the results from FAH are publically available (open source), so we are not helping any one particular big-pharma entity, or anything like that. Everyone has equal access.
Can somebody elaborate because it boggles my mind.
Hopefully that helps answer some of your questions. I would start with reading through the CureCoin knowledgebase to get a fuller understanding about the Coin design:
https://www.curecoin.net/knowledge-base
