I think if they created a network from which you could buy computing power with gridcoin and BOINC was a charitable mining option that would create sufficient demand for a long term stable token price.
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I think if they created a network from which you could buy computing power with gridcoin and BOINC was a charitable mining option that would create sufficient demand for a long term stable token price.
That is exactly what I was thinking. You buy computing power from the "miners" with GridCoin, create a market! NiceHash does something similar. Buy computing power for altcoins with BTC.
In a way, since coins have been primarily distributed via proven verified computation, each token you buy is like owning a bit of historical computation. By buying gridcoin you help offset the electricity costs of people crunching BOINC.
But I agree that a gridcoin:computation market would be interesting, it could be created within a BOINC project, within a Gridcoin Pool or potentially within the reward mechanism (via proof of burn).
By owning Gridcoin, you could vote your project into the Gridcoin whitelist and distribute additional gridcoin to incentivize users crunching your project.
I really like this project. I like altcoin projects with more to them than just being another store of value.
But surely that is what Gridcoin is.
I 'crunch' several BOINC projects which I believe are of benefit to human kind and some of these I do under the auspices of being a member of the Gridcoin Team.
I receive Gridcoin through the Proof of Research algorithm.
Who benefits:
I defray my electricity costs.
The project completes X number or work units and moves closer towards its goal.
Win, win!!
The question is who is buying the Gridcoin. For now it is investors for staking and speculators who hope the price will go up. To sustain PoR mining over the long term, there has to be a use for the coin. If I can buy processing time with Gridcoin, that is a use, it just needs to be advertised so the demand is created.
It's already possible to distribute Gridcoin to miners who run your BOINC project (so called 'rain' function). We use it internally to reward crunchers participating in various crunching competitions (i.e. BOINC Pentathlon) but an enterprising scientist might also use it to reward its cruncher base and to boost computations (more reward->more crunchers->more computing power).
I think that feature should be advertised heavily and possibly developed further to make it easy to use. I think there is a significant block to investment right now because there isn't a clear demand side use case for Gridcoin.
Python: https://github.com/Scalextrix/GRCNN
MapReduce (Proof of concept): https://github.com/grctest/GRC-Magnitude-MapReduce-Hadoop
Project rain: https://github.com/grctest/project-rain-site
Excellent. Great to see the code exists. Let's spread the word.