Gridcoin pool

[andrewgenaille]

This is my chart from GRCpool... Basically it's the chart of a man still figuring out what exactly he wanted to work on.

I've settled on World Community Grid and am just waiting for the charts to reflect that.

I've taken to transferring my Gridcoins over to Steem though in order to build up my Steempower here. The hope is to make money here and then transfer it back over to Gridcoin Wallet to stake more; while at the same time my steempower here remains high.

It allows me to feel like I'm mining steem as this site doesn't allow that, while at the same time search for fixes to the worlds problems.

My apologies to the Gridcoin community though, I'm hoping not to spam you in the coming weeks but I'm going to be making drawings in the hopes of getting more people interested in Gridcoin, and thereby more interested in Boinc programming.

I've noticed that people do ask about it, and I really really appreciate the comments other Grid-ites make explaining the system. I'm still too new to give a full or concise explaination.

Side note: Trying out Grid-ites... Might catch on; or Gridians. Grid groupies?

Comments

[rossjstanley]

Hi I just set up a joined a Gridcoin pool yesterday (I used to run boinc a few years ago and believe the work is worth doing regardless of the reward but I'm not going to turn down free Cypto), so this is interesting, thanks

[grider123]

Cool to here that other long-term boincer are joining :) Welcome!

[andrewgenaille]

It didn't take long for me to get hooked on the system.

[scalextrix]

Welcome, we are pleased Gridcoin brought you back to BOINC, thats what its all about :)

[scalextrix]

Im a Gridcoiner, but I will interact with Grid-ites or Gridians if I have to.

Grid-groupies, kind of boggles the mind though, Im not sure if I want to be at that party...

[andrewgenaille]

Taking Grid Groupie out of my Rolodex.

[alttrader]

what is the use of gridcoin? you make scientific research? how does that generate value if the analysis is not paid?

[dutch]

Here is an answer from 2016 by /u/NateOnTheNet (I don't know his/her Steemit handle) from the GRC subreddit which captures what you are asking about:

The goal of the Gridcoin project all along was to hopefully encourage people to contribute to BOINC in exchange for GRC. GRC doesn't necessarily need to be worth anything at all for this effect to happen, but obviously the more valuable it is, the greater the effect. So far, nobody is talking about directly financing BOINC projects with GRC that I'm aware of, but I don't know everyone who is participating in Gridcoin so who knows what's being dreamed up?

I think you're looking for an answer like "Oh, Gridcoin is going to do X and Y to make sure that merchants adopt it and millionaires buy tons of it to hoard" but there really is no such answer. A certain portion of GRC are being held in a foundation which is nominally intended to drive adoption by businesses and regular users, but there isn't any consensus yet on how those GRC should be spent, so for the moment adoption is being driven by individual users who think it's a cool project and want to get their hands on a few GRC either as an investment, to encourage other people to BOINC by making GRC more valuable, or for fun.

Over time, hopefully mainstream investors will become interested in building businesses around Gridcoin - it has some unique features that other cryptos don't - but right now you're going to be hard pressed to find any cryptos making headway with businesses other than Bitcoin just because it's the only one that has any significant public awareness outside of the crypto community.

Essentially, GRC is currently primarily rewarding users who were already contributing to science using BOINC for free. It covers their bills as the system stands. There is also opportunity for future BOINC projects to incentivise their project with GRC, among other things.

At the end of the day, Gridcoin is about turning the compute power from the crypto-scene into something useful to benefit humanity, rather than hashing aimlessly.

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