HOLD Your GRC - the Research Coin! We have a Long Way to Go!
As a lot of you are aware, the trading price of Gridcoin is going nuts over the last week. Even right now, GRC is up roughly 20% on BTC and the USD averaged across the markets. You may be tempted to sell - don't!
The Gridcoin ecosystem is finally breaking into the mainstream side of crypto, and we have a lot of value yet to bring to the table. Some of the key considerations:
Gridcoin is the only coin in the research sector built on a reliable distributed compute platform - BOINC - which has seen almost 2 decades of development. The results to prove the success of the platform are well documented in hundreds of academic journal articles. Meanwhile, other research coins that are still traded for far more have achieved nothing near this level. SPARC appears to have gone dark after their ICO, where they washed ETH through their own ICO wallet. SOMN was an utter disaster, and GNT is DOA unless they can move beyond the current CPU-only beta.
There is a massive upgrade to the client coming out in the near future. This will bring increased wallet stability, reduced forking, lowered staking CPU load, and many other upgrades. For a full list of changes, you can have a look at the changelog on GitHub - staging branch.
Gridcoin has primarily relied on word-of-mouth advertising until recently, so the new Joint Marketing Initiative 2018 can be expected to significantly swell the numbers of researchers in the Gridcoin network. The initiative is sitting at about 94% approval rate, so mine your GRC while it's still easy before the flood.
Gridcoin is the only coin where, when all the money stuff is said and done, you have made a real, tangible and valuable contribution to society. Heck, I am trying to discover new neutron stars and being paid USD$200/day for it! Better work stories than a POW miner is going to tell, that's for sure.
There are some other initiatives in the works from multiple community members that you will be hearing about in the near future. For me, I just released https://gridcoin.science/ and am still keen on any further feedback on the site - especially from new members! Did it help you navigate the set-up process? Were you able to find all the information you needed?
As a final note, a reminder that moving GRC onto and off Poloniex takes 999 confirmations - a full day! As a result, we see volume has shifted away from Poloniex towards Bittrex. Furthermore, C-CEX has closed all deposits and withdrawls until at least late January, and appears to be ignoring a lot of support tickets. If you are trading GRC, be safe! Exchanges are dangerous, but a necessary evil.
I am actively 'researching' (because hey, we don't 'mine'!) to earn Gridcoin, and invite you to AMA if you have any questions!
You know why it's so awesome to see GRC get recognized? It makes science cool! "My computing power is used to analyze molecules with a potential cure for major diseases and mapping the Milkyway or the human microbiome. And I get paid for it." How cool is that?
I've been crunching GRC for 4-5 months now with CPU only. GPU I'm using for EXP mining, which has reached ROI for my GTX 1050TI with the all time highs of over $8 right now! I purchased my GPU originally as a gaming upgrade but the inflated GPU prizes led me to mining and Ethereum. And that's the reason why I eventually found my way here to Steemit writing this comment about how cool GRC is! (Damn, this universe almost makes me want to believe in destiny; such a fortunate series of events it has been that has led me into crypto from gaming. And some gamers just keep bitching about high GPU prizes. God damn; why not just join with the "devil" if you can't beat it? They have no idea what they're missing on just because they keep hating miners.)
Sorry, I got "little" sidetracked with this comment. But back into the point...
I started crunching when GRC was in the 2-4 cent realm, earning about a 1 GRC per day and, having now crossed the 200 mark (yay!). I didn't mind getting only cents per day because the power was going for a good cause, while I didn't use the excess unused power anyway. But it seems like my few coins could make some pocket cash in the future. But I'm hodling all of my cryptos for a loooong time, GRC included.
Had to do it :D
You must have a beast research lab to mine GRC for $200 a day!!
Btw, do you know how to redeem the SPARC from mining? I'm mining in grcpool if you need to know.
SPARC is not listed anywhere yet.
Their initial distribution isnt over i think . no point in doing that when you can send them some etherum and get moneis .
They fell far short of their ICO targets, had an insecure and buggy front end, and a whitepaper that is hopelessly outdated. I don't get the feeling they are particularly serious about their endeavor.
Thanks for clarifying. In that case I'll just wait for updates, if there will be any...
Those idiots dont realize that sure, its rising prices, but for sure its speeding up their evolution.
USD$200/day you say ..... This must mean you can afford to buy me lavish chocolate!
No can do =/
A word of advice from a seasoned investor - chocolate takes priority in cases like this :)
I'll devote a GPU to it, and maybe 9 more if it goes well. Looks like GRCPool is where the action is?
Yeah - like @ivanviso mentioned the pool is the place to start. Make sure you do use GRCPool - the other pool is abandoned by its developer and not paying out anymore.
The way GRC is earned through research, is that you are back-paid for your work every time you generate a block through Proof of Stake (POS) - POS secures the network. Under POS, your likelihood to stake a block is proportional to your holdings. This means that if you start with 0 GRC, you will never be paid for your research (although your pending payout will rise).
The pool maintains a 200,000 GRC balance to help it stake on your behalf.
unless you have over 1000GRC, (which isnt that much money to invest), you must use a pool . Technically, 200 should be enough, but you would be payed every 5months or so.
Yeah GRC is really picking up pace these months, not only price wise, but lots more reddit, steemit activity as well.
It's getting popular guys!
Our steemit presence is growing rapidly, it's surprising that the #gridcoin tag isn't present in the popular tags tab/panel at this point.
Would be nice to see GRC get listing on a dex like bitshares.
This is what all devices should be doing like phones and desktops instead sitting idle or in a landfill
We are actually already on the Openledger (Bitshares) DEX! Unfortunately, adoption of the Openledger DEX is not high enough yet to provide good liquidity for GRC.
About the idle devices - 100%!
I must have missed it on bitshares... But you are right the liquidity is crap hope it picks up now with all the exchanges blocking new users
Can phones produce GRC? This is the first I'm hearing of it.
Yes you can download boinc on android and to set up as pool you can edit the apk to included grcpool.com
There is a guy on the development Slack currently getting a jailbroken Ipod mining GRC...
Anything can mine GRC. =)
http://cryptofresh.com/a/OPEN.GRC
Its closed right now. I hope its in preparation for the update. I was going to buy a few and dont want to get into another exchange atm.
What is your opinion on Curecoin and FoldingCoin using the Folding@Home research network? What are the advantages of Gridcoin, other than CPU only projects? One disadvantage: GRC is a lot harder to setup.
Gridcoin supports the exact same work that Curecoin and Foldingcoin do, and then a plethora more. Unfortunately, this makes the system a little more complex.
That being said, the open source pool has made getting started far easier. There is a ten minute video on the home page that will get you going from a cold start. Best of all - no pool fees.
where do i set my auto sell target?????
Too soon to tell how high Gridcoin will go - this is a revolution headed by science and cryptocurrencies in unison. The potential here is phenominal! If all POW miners turned their attention here, we could achieve amazing things.
Price point, who knows? I'm holding all of mine straight through 2018 and probably keeping most of it for much longer still.
Hello guys, I am new to Gridcoin(about a month), but I like it a lot. My magnitude is rising. Now making a profit of about 15$/month, but I recently added 2 new servers to my cluster so I have to wait for the magnitude to grow.
How is your cluster set up? Do you know what kind of scientific analysis your processing power is going toward?
Hello, my "cluster" is made up of 4 servers(one R610, 2 R710, and a R810) connected to a switch. I run a linux distro on them, no VM yet. I do not have the time to dedicate to setting things up.
I currently crunching for NFS project, doing integer factorization.
I would like to go for Seti or Einstein, but I do not have any GPU. Maybe in the future I will add some GPU to my cluster.
Thank you! I'd like to start mining my own GRC if it really does help advance science and technology. Can you tell me your experience with choosing what projects you'll be aiding? Were there options other than integer factorization?
These are the two most popular projects by a mile, which also means the return on them is the lowest. Just a heads up. =)
They are, but I like the project itself. Anyway, at this time I do not have any GPU in my "cluster" so I will see when I get some.
SPARC technically hasn't had its ICO yet. It has its ICO starting January 15 and runnning through mid-FEb. See their website.
But...alas...I would love to see GRC at $1.00...The problem I have is how the heck do I handle the taxes, haha - it's so difficult to knock the acquisition date when it's worth more than all the bitcoin that you used to purchase it...
SPARC definitely had at least 2 ICO rounds already when I first looked at them months ago. They may have re-labelled that differently now. If that is the case, I am even more suspicious of the whole thing.
Nope, they canceled the ICO rounds and left it in pre-funding because they weren't hitting their targets. January 15th is the new launch date for the ICO crowdsale.
Those 200USD are calculated taking into account your investment in the infrastructure (Computers, cooling, maintenance) and electricity costs? Or do you have access to the computing power and the investment and running costs are covered by an other entity? I have severe problems to believe that one can make 200USD / day without a huge investment upfront and taking electricity into account.
The USD$200 is total GRC mined, taking into account zero costs. I am a researcher with a private lab, where we build computer models of the brain to work on better understanding Alzheimer's Disease. Idle time (when there is no in-house work) is spent on hunting pulsars through BOINC. The daily income far exceeds power costs, but power is cheap here.