Gridcoin -- First Cryptocurrency to Utilize BOINC

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aysyr

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Message 50947 - Posted: 21 Oct 2013, 17:24:22 UTC
Last modified: 21 Oct 2013, 17:25:55 UTC

Hi guys,

I've been a hobbyist cryptocurrency miner, and I only first found about about BOINC from the release of a new cryptocurrency called Gridcoin - released less than a week ago.

What Gridcoin does is reward miners who are running BOINC higher rewards (up to 150 Gridcoins for 100% BOINC utilization) compared to non-BOINC miners (only 5 Gridcoins). In terms of cryptocurrencies, this makes Gridcoin the most useful since although it still uses energy from GPU's to support the network, its users are are also obliged to run BOINC if they want timeworthy rewards for their mining, which goes towards meaningful projects.

For those of you who currently mine cryptocurrencies or are interested in learning more, rather than post the entire description here I'll just link to Gridcoin's main forum thread. Feel free to check it out if you have any GPU's not running BOINC (particularly AMD). We'd be glad to help you get started if you end up wanting to try it, and being only released 5 days ago, there's no better time to get started than now.

Gridcoin on Cryptocointalk

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Profile Ageless
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Message 50950 - Posted: 21 Oct 2013, 21:02:15 UTC - in response to Message 50947.  

Seeing how the link to your forum is corrupted, let me repost it:
https://cryptocointalk.com/topic/1331-new-coin-launch-announcement-grc-gridcoin/


Jord

Ha ha ha ha ha! You can't fool me! There ain't no Sanity Clause!

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aysyr

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Message 50956 - Posted: 21 Oct 2013, 22:27:02 UTC

Thanks Ageless, I accidentally had quotes in there. It looks like I can't edit a post after a certain amount of time has passed?

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Richard Haselgrove
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Message 50957 - Posted: 21 Oct 2013, 22:39:27 UTC - in response to Message 50956.  

Yes. The limit is one hour. Best you check that everything is working right after you post it - better yet, use the 'preview' facility.

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aysyr

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Message 50958 - Posted: 21 Oct 2013, 23:04:27 UTC

Ironically I did, but I didn't figure to click on the hyperlink. I just made sure that it formatted correctly. You live and learn haha, but thanks for the info

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cryptoman

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Message 51161 - Posted: 5 Nov 2013, 16:08:03 UTC

Here is a video of a Gridcoin miner in action with 6 GPU running Boinc.

http://www.youtube.com/watch?v=9DfJj4UZcU8

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David S
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Message 51172 - Posted: 5 Nov 2013, 20:44:56 UTC - in response to Message 50958.  

Ironically I did, but I didn't figure to click on the hyperlink. I just made sure that it formatted correctly. You live and learn haha, but thanks for the info

Tip: when previewing, right-click and select open link in new window or tab. Previews don't do that automatically even when the site does. (Maybe something to tweak in the forum code?)

signature

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mirrax

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Message 51233 - Posted: 9 Nov 2013, 17:22:50 UTC

This might be great boost for BOINC as Gridcoin is first cryptocoin utilazing BOINC.

I am very excited about it as I knew BOINC before I get involved in cryptocoins (I also played FoldIt a lot :))

Mining Gridcoin and running BOINC at same time since Aysyr post about Gridcoin on Feathercoin forum and Bitcoin talk!

GRC is the future...

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aysyr

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Message 51234 - Posted: 9 Nov 2013, 18:39:14 UTC

Hey guys, if any of you want to learn more about it, we have a website up with information/downloads/guides and a new forum as well if you'd like to join the community and learn more.

The developer of Gridcoin is in the middle of trying to figure out an reliable method of rewarding BOINC points within the actual block chain; no estimate on how long it'll take but it looks promising.

Anyways website is: www.gridcoinnetwork.org

and our forums are: www.gridcoinforum.com

Thanks guys!

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noderaser
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Message 51850 - Posted: 2 Jan 2014, 1:53:18 UTC

Doesn't look very user-friendly at this point... And why are there two websites (gridcoinnetwork.org and gridcoin.us) that don't appear to be related?



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cryptoman

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Message 52219 - Posted: 29 Jan 2014, 20:27:33 UTC

Gridcoin is now listed on https://c-cex.com for trading.

Grc/Btc: https://c-cex.com/index.html?p=grc-btc

So now you can exchange your Gridcoin for Bitcoin if you want.

Come and join team Gridcoin!!

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Mike Frank

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Message 52734 - Posted: 23 Feb 2014, 17:16:10 UTC

Is Gridcoin authorized or endorsed by the BOINC project in any way? Chrome seems to think it is malware. Has anyone from BOINC inspected Gridcoin to see if it is legit?


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David S
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Message 52764 - Posted: 25 Feb 2014, 16:09:58 UTC

I've been staying out of the whole bitcoin thing, including Gridcoin, but I saw this article this morning.

Bitcoin conversion site shut down


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noderaser
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Message 53051 - Posted: 8 Mar 2014, 6:55:25 UTC

Still looking for answers as to whether I should deviate towards crypto-coin mining; both GRC and XRP offer rewards for BOINC computing, but require that you join their "team" so they get the publicity. Neither of them seem to be particularly profitable yet, and I don't want to detract from the contributions I'm making to real BOINC projects just to try and offset my electric bill slightly... For me, the power consumption is acceptable if the work is going to projects that need the work to complete a goal. Unless the profitability is such that it will exceed my expenditure for energy, I'm content to stay with my usual projects.

Has anyone considered using BOINC itself to administer a mining pool? It would certainly make things a lot easier for people to join and get hashing.

I guess the real answer I'm looking for/have already found/am trying to deny is that I should've gotten in on the ground floor a couple of years ago when I first learned about Bitcoin and mining. I probably could have gotten a much better return on investment. It will be interesting to see what the long-term viability of crypto-currencies will be, especially since it seems like there are new ones that pop up all the time.



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big_swifty

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Message 53851 - Posted: 30 Apr 2014, 18:00:51 UTC - in response to Message 51850.  

You don't sound very friendly at this point!. It's probably best not to presume and check first to see if they are related or not or do you expect someone else to check for you? Maybe you are too busy adding badges to your 'I am important' signature?

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big_swifty

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Message 53853 - Posted: 30 Apr 2014, 18:19:31 UTC - in response to Message 52734.  

Hello, it's legit and BOINC now talk about it.

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noderaser
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Message 53859 - Posted: 1 May 2014, 6:42:06 UTC - in response to Message 53851.  

You don't sound very friendly at this point!. It's probably best not to presume and check first to see if they are related or not or do you expect someone else to check for you? Maybe you are too busy adding badges to your 'I am important' signature?


Who's not being friendly?

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Profile KSMarksPsych
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Message 53898 - Posted: 1 May 2014, 22:48:37 UTC

Keep it nice folks. Try not to jab and insult others.

Thank you from your friendly moderator. :-)


Kathryn :o)

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Message boards : Projects : Gridcoin -- First Cryptocurrency to Utilize BOINC


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