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Profile Retvari Zoltan
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Message 42375 - Posted: 12 Dec 2015 | 12:01:18 UTC

http://www.gridcoin.us/
Perhaps you've seen their ad banner on boincstats.org, or on other BOINC related sites.
I've came across a thread about Gridcoin in a Hungarian forum, there were some help requests about installing and setting up the client.
I was interested in this idea, as it is quite the opposite of what the BU project is about.
So these were enough motivation for me to take action.
I've installed the Gridcoin wallet on one of my hosts, and joined their team (sorry about my previous team).
It was on 18th Nov 2015.
Since then I've received (mined - if you like, but it's not like mining BitCoin) ~4560GRC.
I don't fully understand Gridcoin yet, but it's similar to BTC in the way it stores the transactions in a blockchain and a so called "neural" nework, but the coins are not mined like BitCoins, as a wallet receives coins based on the magnitude of the wallet's owner. The magnitude depends on the RAC of the CPID assigned to the wallet. So GRC will function as a "legal tender" in a different way as BTC functions. (The rate of BTC/fiat currency should increase infinitely as there's finite BTCs could be mined but infinite fiat money could be issued.)
One use of GRC is to exchange it to other crypto currency (mainly BTC), and then exchange the BTC to a curreny which is accepted by the electricity provider, as BOINC credits are not exchangeable at all (either technically or theoretically - at least they shouldn't be), but the GRC is exchangeable.
I'm perceiving the Gridcoin team & currency as the EVGA team in folding@home. The EVGA team used to give away GPUs as a prize for their members. I consider it as a good way of building a team & fan base. So I have a dream of that the Gridcoin will grow big enough to be accepted directly by some hardware vendors.

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Message 42378 - Posted: 12 Dec 2015 | 14:09:20 UTC

This sounds very interesting. I still don't understand Bitcoin very well and this seems like a variation on the theme. I'll do some research. Thanks for the info.

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Message 42379 - Posted: 12 Dec 2015 | 14:37:13 UTC

FWIW I joined a couple of months ago. Word seems to be spreading fast these days. 4,200+ members running BOINC projects according to BOINCStats. Don't know what it will do to the value of Gridcoin but it is interesting.

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Message 42383 - Posted: 13 Dec 2015 | 11:38:55 UTC - in response to Message 42379.

FWIW I joined a couple of months ago. Word seems to be spreading fast these days. 4,200+ members running BOINC projects according to BOINCStats. Don't know what it will do to the value of Gridcoin but it is interesting.


This page can help with that, just be sure to select the GRC Gridcoin and not the other kinds of Gridcoins:
https://www.cryptonator.com/converter

Right now this morning Retvari's 4560 Gridcoins are worth:

4560 GRC = 86.64 USDollars

I used to do this but thru some self induced problems quit, I reinstalled the wallet software on a different pc and changed the password in the process. Yes I logged out and then logged back in again, but when I tried to log into the new software on the new pc it wanted the old password which I had deleted! Since it was a machine generated one and I had tested that the new one worked and I had deleted the old password, I am out of luck and my Gridcoins are now lost to me forever!

For those of you wishing to pursue this please remember that the software must be running for you to get your Gridcoins, mine came every couple of days or so, AND you must have your wallet unlocked as well for them to be deposited into your account.

Profile Retvari Zoltan
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Message 42386 - Posted: 13 Dec 2015 | 22:05:05 UTC - in response to Message 42383.

... Since it was a machine generated one and I had tested that the new one worked and I had deleted the old password, I am out of luck and my Gridcoins are now lost to me forever!
The wallet is stored in the %AppData%\GridcoinResearch\wallet.dat file, so if you want to transfer your wallet to a different PC, you have to copy this file to the new host before you create & begin to use the wallet, or else it will be a different (empty) wallet with a different wallet ID (address). You can change the wallet.dat any time, but it's impractical to change a wallet which already in use.
If you haven't copied this file, then you can install the GridCoin client to your old PC, and transfer the coins to the new wallet by sending them to the new address.

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Message 42388 - Posted: 14 Dec 2015 | 12:41:21 UTC - in response to Message 42386.

... Since it was a machine generated one and I had tested that the new one worked and I had deleted the old password, I am out of luck and my Gridcoins are now lost to me forever!
The wallet is stored in the %AppData%\GridcoinResearch\wallet.dat file, so if you want to transfer your wallet to a different PC, you have to copy this file to the new host before you create & begin to use the wallet, or else it will be a different (empty) wallet with a different wallet ID (address). You can change the wallet.dat any time, but it's impractical to change a wallet which already in use.
If you haven't copied this file, then you can install the GridCoin client to your old PC, and transfer the coins to the new wallet by sending them to the new address.


Thanks I did not know that, unfortunately just quickly looking it seems I have deleted everything, but a more thorough search, even thru backups, may still find it.

Profile Retvari Zoltan
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Message 42544 - Posted: 3 Jan 2016 | 10:47:34 UTC

Just a short status update: now I have 10k GRC.

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Message 42548 - Posted: 3 Jan 2016 | 12:52:01 UTC - in response to Message 42544.

Just a short status update: now I have 10k GRC.


According to here:
https://www.cryptonator.com/converter


You have...10000 GRC = 169.9 USD or
10000 GRC = 79.9 EUR

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Message 42568 - Posted: 7 Jan 2016 | 8:36:48 UTC - in response to Message 42548.

Just a short status update: now I have 10k GRC.


According to here:
https://www.cryptonator.com/converter


You have...10000 GRC = 169.9 USD or
10000 GRC = 79.9 EUR


Then there is something wrong with the converter. In the real world 1USD < 1EUR.
____________
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Message 42584 - Posted: 9 Jan 2016 | 19:09:34 UTC
Last modified: 9 Jan 2016 | 19:11:31 UTC

I have been on Gridcoin for a year, its been very much worthwhile.

It would be great if this project would add a GRC donation address, I would send some over. The project could choose to convert to fiat, or, run Gridcoin themselves (only needs a couple of PCs to make good returns) and earn more GRC that can be used for funding... Im on the Gridcoin forums/reddit and would get the message out...

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Message 42750 - Posted: 3 Feb 2016 | 3:01:21 UTC

Getting myself setup with this now. Am I correct in thinking that since Gridcoin uses my CPID to track me, I do NOT need to install a client on all my crunching machines?

Profile Retvari Zoltan
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Message 42751 - Posted: 3 Feb 2016 | 7:02:32 UTC - in response to Message 42750.

Getting myself setup with this now. Am I correct in thinking that since Gridcoin uses my CPID to track me, I do NOT need to install a client on all my crunching machines?
Yes. But all of your hosts have to have the same CPID.

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Message 42752 - Posted: 3 Feb 2016 | 11:16:13 UTC - in response to Message 42751.

Getting myself setup with this now. Am I correct in thinking that since Gridcoin uses my CPID to track me, I do NOT need to install a client on all my crunching machines?
Yes. But all of your hosts have to have the same CPID.


Okay. Thanks.

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Message 43014 - Posted: 15 Mar 2016 | 11:19:45 UTC

30k GRC :)

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Message 43017 - Posted: 15 Mar 2016 | 19:56:51 UTC - in response to Message 43014.

214.38$ minus all fees for the transfer to fiat >-)
market cap 18.12 2015 4 445 xxx $
- - 15.03 2016 2 654 xxx $
hmm

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Message 43037 - Posted: 18 Mar 2016 | 3:32:33 UTC - in response to Message 43014.

30k GRC :)


Me too! :-)

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Message 43144 - Posted: 4 Apr 2016 | 15:48:08 UTC

First of all: Zoltan thanks for your initial help via PM! I thought I have set up Gridcoin on my computer with your help!

However, when I checked today, no additional (fraction of) Coins after two days of crunching! And after I have restarted the computer the seven and something Coins (I have reseived for free from different sites to start with) vanished! No positive balance no stacking:-(.

Additionally, Gridcoinresearch.exe uses up to two (02) CPU threads! Besides of this it does nothing!

Has it to be that frustrating to get better? I will spare the readers with my other thoughts...

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Message 43145 - Posted: 4 Apr 2016 | 19:17:38 UTC - in response to Message 43144.

However, when I checked today, no additional (fraction of) Coins after two days of crunching!

Sometimes a few days go by without "payouts." To check what you are currently owed look up your CPID on this site.

And after I have restarted the computer the seven and something Coins (I have reseived for free from different sites to start with) vanished! No positive balance no stacking:-(.

When you restart the Gridcoin Wallet, does it say it is syncing? Also, sometimes rebooting the computer without shutting down the wallet first produces errors in the gridcoinresearch.conf file which then needs to be rebuilt. Try creating a backup for this file in case this happens.

Additionally, Gridcoinresearch.exe uses up to two (02) CPU threads! Besides of this it does nothing!

On my PC it will occasionally put a large load on the CPU, but only for a few moments.

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Message 43146 - Posted: 4 Apr 2016 | 22:18:05 UTC - in response to Message 43145.

However, when I checked today, no additional (fraction of) Coins after two days of crunching!

Sometimes a few days go by without "payouts."
That would not be a problem, if I am sure it is working.

And after I have restarted the computer the seven and something Coins (I have reseived for free from different sites to start with) vanished! No positive balance no stacking:-(.
When you restart the Gridcoin Wallet, does it say it is syncing?
Yes, it does say syncing, it said so for hours. What does it mean?

Additionally, Gridcoinresearch.exe uses up to two (02) CPU threads! Besides of this it does nothing!
On my PC it will occasionally put a large load on the CPU, but only for a few moments.
This seems correct.

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Message 43147 - Posted: 4 Apr 2016 | 22:30:04 UTC - in response to Message 43146.

That would not be a problem, if I am sure it is working.

Did you check the site I linked you to? Also, in Windows check your Resource Monitor. If gridcoinresearch.exe is in there somewhere you are fine. It's running. Do you have a firewall in place which may be blocking Gridcoin transactions? I had to allow some exceptions for it within Malwarebytes.

Yes, it does say syncing, it said so for hours. What does it mean?

From my experience, this means it has lost the blockchain. Try "Rebuild Block Chain --> Download Blocks" from the wallet toolbar if it seems to be taking a long time to sync. I once had to give it over a day to sync up when I had improperly (for the program) shut it down. Additional help can be found here.

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Message 43149 - Posted: 4 Apr 2016 | 23:30:02 UTC - in response to Message 43147.

That would not be a problem, if I am sure it is working.

Did you check the site I linked you to? Also, in Windows check your Resource Monitor. If gridcoinresearch.exe is in there somewhere you are fine.
Yes it is there, but CPU usage is 00.
Do you have a firewall in place which may be blocking Gridcoin transactions?
The firewall should be fine, I allowed Gridcoin to access the Internet.

Yes, it does say syncing, it said so for hours. What does it mean?

From my experience, this means it has lost the blockchain. Try "Rebuild Block Chain --> Download Blocks"

I did this twice today, each time I lost the "free" initial Coins, it just took hours until the Coins are shown again.

Actual Status:
No Stacking as the Wallet is synchronized.
8 connections active to red Gridcoin. Whatever this means!?
Actual Status: Balance 7.139807 GRC
Does say: Syncing

Just a mean question: Has anybody really bought something real, or paid the electric bill with it?

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Message 43153 - Posted: 5 Apr 2016 | 17:06:49 UTC

Status Up-Date:
Stacking! :-))
Your weight is 25007
Estimated time to earn a reward is 8 dias.
8 connections active to red Gridcoin. Whatever this means!?
Balance: 7.139697
Does say: Probing coin age on various projects.

Has it to be that frustrating to get better?

It seems it got way better:-)

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Message 43158 - Posted: 9 Apr 2016 | 0:22:06 UTC

I just wanted to comeback after five days – as I have been quite negative on Monday.

It working now: I have been awarded the amount of around 140 Gridcoins until now! Something new to look at…

However, it seems that to get really interesting you have to have a minimum of 2000 GRC in your Wallet - something like this I understand from the forums… So I have quite an uphill struggle in front of me.

But in the end, I would recommend it to all, it is nice bonus!

And finally to come back to Zoltan's first post:

I'm perceiving the Gridcoin team & currency as the EVGA team in folding@home. The EVGA team used to give away GPUs as a prize for their members. I consider it as a good way of building a team & fan base. So I have a dream of that the Gridcoin will grow big enough to be accepted directly by some hardware vendors.

It would be nice if the next generation of GPUs might be purchased with Gridcoins.

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Message 43159 - Posted: 9 Apr 2016 | 3:09:30 UTC - in response to Message 43158.

Glad it's working for you now. Just remember that new team members receive a bonus on their Gridcoin earnings, so don't expect your current accrual rate to last. My "initiate" period ended recently and I saw my earnings drop quite a bit. Still, if one can earn some coins through crunching, why not keep with it regardless of the rate of accrual if one will be crunching anyway?

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Message 43184 - Posted: 12 Apr 2016 | 22:56:59 UTC

I would have liked to report that everything goes smooth, but unfortunately GPUGRID crashed my computer this afternoon – bluescreen.

I restarted my computer. BOINC runs ok – obviously I lost two GPUGRID Wus – but I am not able to restart GRIDCOIN Research. I get a runtime error: “This application has requested the Runtime to terminate it in an unusual way.”
I have downloaded the Gridcoin installation file “GridcoinResearch.msi” but unfortunately I am not able to repair the gridcoinresearch.exe (Reapiar Gridcoin Research)
I get the following message: “La cuante especificada ya existe. “ Something like: “The account does already exist” Which is true as I have run the client for a week now.
Any suggestions, how to proceed? I have not made any back-up since I started last week, and I do not like to lose all the coins already minded.

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Message 43185 - Posted: 13 Apr 2016 | 0:16:01 UTC - in response to Message 43184.

I would have liked to report that everything goes smooth, but unfortunately GPUGRID crashed my computer this afternoon – bluescreen.

I restarted my computer. BOINC runs ok – obviously I lost two GPUGRID Wus – but I am not able to restart GRIDCOIN Research. I get a runtime error: “This application has requested the Runtime to terminate it in an unusual way.”
I have downloaded the Gridcoin installation file “GridcoinResearch.msi” but unfortunately I am not able to repair the gridcoinresearch.exe (Reapiar Gridcoin Research)
I get the following message: “La cuante especificada ya existe. “ Something like: “The account does already exist” Which is true as I have run the client for a week now.
Any suggestions, how to proceed? I have not made any back-up since I started last week, and I do not like to lose all the coins already minded.


Yeah, you need to create a new gridcoinresearch.conf file. Once you have it created and filled in appropriately, you should be fine. I always make a copy of the file and name it gridcoincoinresearchBACKUP.conf and swap it in when this happens (after renaming it, of course.)

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Message 43189 - Posted: 13 Apr 2016 | 14:46:56 UTC - in response to Message 43185.

Yeah, you need to create a new gridcoinresearch.conf file. Once you have it created and filled in appropriately, you should be fine. I always make a copy of the file and name it gridcoincoinresearchBACKUP.conf and swap it in when this happens (after renaming it, of course.)

Thanks SKUMatt, this solved my problem! I am up and running again: Staking. Next reward in 500 days... I hope this is not true:-)

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Message 43192 - Posted: 13 Apr 2016 | 18:30:38 UTC - in response to Message 43189.

Thanks SKUMatt, this solved my problem! I am up and running again: Staking. Next reward in 500 days... I hope this is not true:-)


No problem. It was only a couple months ago I was asking the same questions as you. The Gridcoin Wiki and this Gridcoin support forum are good sources of information when you run into trouble or just want to know more about how Gridcoin works.

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Message 43228 - Posted: 20 Apr 2016 | 14:36:00 UTC - in response to Message 42568.

Just a short status update: now I have 10k GRC.


According to here:
https://www.cryptonator.com/converter


You have...10000 GRC = 169.9 USD or
10000 GRC = 79.9 EUR


Then there is something wrong with the converter. In the real world 1USD < 1EUR.

Just thought I'd point out the obvious error in your math/logic here and try not to laugh.

It's worth more USDs, because USDs are worth less.

Cheers. :)
____________
My BOINC Cruncher, Minecraft Multiserver, Mobile Device Mainframe, and Home Entertainment System/Workstation: http://www.overclock.net/lists/display/view/id/4678036#

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Message 43693 - Posted: 2 Jun 2016 | 22:56:39 UTC

50k GRC

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Message 43771 - Posted: 11 Jun 2016 | 21:10:28 UTC - in response to Message 43693.

50k GRC


Any secrets to your earning speed, Retvari? I know you run more GPUs and CPUs than I, but I'm just curious. I've been part of Gridcoin since February and I am nearly to 8k GRC. I run GPUGrid on a 980Ti, a 970, and two 960s. I also run World Community Grid on my CPUs: ~12 cores of recent Intel design and 2 Odroid XU4s running 16 cores total on Samsung Exynos5422 Cortex™-A15 2Ghz and Cortex™-A7 Octa core CPUs.

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Message 43775 - Posted: 13 Jun 2016 | 16:01:16 UTC

Just reached 5k GRC today.

In celebration and to thank for the help of KSUMatt and Retvari Zoltan to set the Gridcoin client up, I would like to give 5 times 10 GRC away to kick-start five new users. So PM me your Gridcoin direction and the BOINC projects your helping and I will send to the first 5 persons 10 coins each.

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Message 43776 - Posted: 14 Jun 2016 | 0:16:57 UTC - in response to Message 43771.
Last modified: 14 Jun 2016 | 0:17:14 UTC

Any secrets to your earning speed, Retvari?

There's no secrets. My magnitude is 1200, and the GridCoin client is always running on my laptop.
You have to make sure that you have the same CPID across all of your projects.

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Message 43782 - Posted: 15 Jun 2016 | 7:27:25 UTC - in response to Message 43776.

Any secrets to your earning speed, Retvari?

There's no secrets. My magnitude is 1200.


Mine is 12. :D

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Message 43916 - Posted: 7 Jul 2016 | 3:26:45 UTC - in response to Message 43782.

My magnitude is 320, where did you get all your hardware retvari?

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Message 44026 - Posted: 21 Jul 2016 | 0:01:32 UTC

10000 GRC

Magnitude has increased recently with my replacement of the 980Ti with the 1080 and the replacement of my 970 with the 1070. Also mostly crunching Einstein now so that has probably affected my magnitude as well. Looking forward to Pascal support here...

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Message 44050 - Posted: 26 Jul 2016 | 14:50:21 UTC

My gridcoinresearch.exe disappeared tonight! Means I let the wallet run 24 hours and this morning it was closed.

When I tried to start it by the shortcut to gridcoinresearch.exe, I receive the following massage:
“The feature you are trying to use is on a network resource that Is unavailable.
Click ok to try again or enter an alternate path to a folder containing the installation package “GridCoinResearch(2).msi” in the box below”

What happen? Strange…
Happily, I found it again on my computer where it should be… and it is running again.

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Message 44101 - Posted: 8 Aug 2016 | 16:40:13 UTC

10k GRC

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Message 44583 - Posted: 26 Sep 2016 | 15:18:14 UTC

15k GRC

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Message 44613 - Posted: 2 Oct 2016 | 9:06:13 UTC

80k GRC :)

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Message 45602 - Posted: 6 Dec 2016 | 2:45:39 UTC

I do have a problem with Gridcoin since a few weeks:
After a "blue-screen" I reinstalled my Back-Up: Gridcoinresearch.conf and the Gridcoin GUI client started normal.

After a few moments the program created a “Newbe” block?! And if Gridcoin does not stop completely afterwards, it states that Gridcoin it is not syncing and shows the following message: “Interest: 1 hour Syncing No Global CPID Kernal 611”.

Any idea what to do?

Thanks.

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Message 45612 - Posted: 7 Dec 2016 | 12:26:44 UTC - in response to Message 42375.

I'm perceiving the Gridcoin team & currency as the EVGA team in folding@home. The EVGA team used to give away GPUs as a prize for their members. I consider it as a good way of building a team & fan base. So I have a dream of that the Gridcoin will grow big enough to be accepted directly by some hardware vendors.


I really love that idea of receiving EVGA bucks for folding. I have just joined that team, thanks for the tip, Zoltan!

Having said this, the maximum bucks per month of 10 seem to be easily accomplished. My GTX1070 earns 700.000 per day whereas you only need 100.000/day to get the maximum of 3.000.000 per month = 10 EVGA Bucks. Which means the 1070 is an exaggeration, I don't get more bucks for the extra power spent.

From that view, it sounds like a GTX1050ti is sufficient, what do you think, Zoltan?
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Message 45613 - Posted: 7 Dec 2016 | 13:45:27 UTC - in response to Message 45602.

Hi klepel!

You did the right thing to overwrite the Gridcoinresearch.conf as this would in most cases be empty after a crash. They will be an autobackup of the that .conf in walletbackup folder in userappdata.

At Oct there was an added security to protect users CPID (beacon v2). To this the the network generate a keypair (privatekey & publickey), with this wallet started to autobackup the .conf so users would not lose the keys. Some user may not upgraded the wallet in time before mandatory upgrade was released (Nov), so they have lost these keys. What would happend is those users would lose connection to the CPID in Network, but no coins would be lost as long as beacon exist.

The wallet would say No CPID in wallet and if you type in "execute beaconstatus" in console you would get more info and if there are any keypair issue.

If don´t manage to solve from backup please to us and we would help you. Click on chat on the wallet and i we would help you there.

/Gunde

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Message 45934 - Posted: 27 Dec 2016 | 12:18:22 UTC - in response to Message 45892.

I try to stay away from all *coin virtual currencies, it's all garbage. I think the state has it's important responsibilities and should maintain its official currency, other currencies should be made illegal. And especially those that require computer crunching are very bad - for the environment for instance.


Most Cryptocurrencies are as you described, a waste of power. Gridcoin is different, the computation is actually going to something useful, BOINC. So you as a user can choose to just volunteer your computation unpaid or get gridcoin for doing the same exact thing.

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Message 45981 - Posted: 30 Dec 2016 | 12:00:18 UTC - in response to Message 45934.

Most Cryptocurrencies are as you described, a waste of power. Gridcoin is different, the computation is actually going to something useful, BOINC. So you as a user can choose to just volunteer your computation unpaid or get gridcoin for doing the same exact thing.

Thank you, I do not think you are completely right, GridCoin seems to waste power and user time too. I followed your advice, tried GridCoin just for the sake of curiosity, but now I do not plan to try that deviant software again at least before I retire. And I am quite surprised how much attention it gets here and at BOINC in general. My trust in BOINC has decreased significantly.

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Message 45983 - Posted: 30 Dec 2016 | 12:44:09 UTC

I am also somewhat skeptical towards Gridcoin but I admittedly didn't try it yet. Can somebody possibly explain what's in it for the Gridcoin founders, when they donate virtual money to crunchers? How do they benefit from that? And if there is no particular company behind but just a community having a shrewd idea, why should anybody accept Gridcoin as a currency?

There's no such thing as a free lunch.
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Message 45985 - Posted: 30 Dec 2016 | 13:12:42 UTC - in response to Message 45983.
Last modified: 30 Dec 2016 | 13:13:02 UTC

I am also somewhat skeptical towards Gridcoin but I admittedly didn't try it yet. Can somebody possibly explain what's in it for the Gridcoin founders, when they donate virtual money to crunchers? How do they benefit from that? And if there is no particular company behind but just a community having a shrewd idea, why should anybody accept Gridcoin as a currency?

There's no such thing as a free lunch.

They aren't donating any money to the crunchers, the money is 'made' when you contribute to boinc. The allotted amount is 50000 gridcoin that is awarded per day to the entire network. This value per day is to keep the currency stable, something very valuable to a currency if you want to instill trust. You then get your share based on your magnitude which is your amount of contribution. Its value comes from its perceived value, if someone wants it, it is therefore valuable. I believe the creators of this currency have a strong belief in scientific computing and only want to see it grow. If you however don't believe that humans can actually have good intentions then you will find they accept donations. I have not found any devious intentions or ways for them to make a quick buck.

Thank you, I do not think you are completely right, GridCoin seems to waste power and user time too. I followed your advice, tried GridCoin just for the sake of curiosity, but now I do not plan to try that deviant software again at least before I retire. And I am quite surprised how much attention it gets here and at BOINC in general. My trust in BOINC has decreased significantly.

I'm not sure why you assume this has deviant intentions, as you did not explain why. I was skeptical at first as well but having been using it for over a year and looking at their facebook group filled with only scientifically enthusiastic people I see no ill intent.

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Message 45988 - Posted: 30 Dec 2016 | 14:07:09 UTC
Last modified: 30 Dec 2016 | 14:13:21 UTC

Forgive me for still being sceptical. The most important cornerstone of a currency is the acceptance, which is legally defined by a state. Merchants in the regarding state are even forced by law to accept that currency. Of course they may also deal with foreign currencies but all of those are traceable to the same constitutional process after all.

I dont see that for Gridcoin, badges or even shells. Where admittedly some shells may have a nice collectors value.

Its value comes from its perceived value, if someone wants it, it is therefore valuable.


well, is it? Which store does accept Gridcoins as a trade-in "value"? And why should they? To me it rather sounds like a snowball system. The only company who may see any value in Gridcoins is the electricity distributor. Just my two Cents.
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Message 45989 - Posted: 30 Dec 2016 | 14:21:27 UTC - in response to Message 45988.

Its value comes from its perceived value, if someone wants it, it is therefore valuable.

well, is it? Which store does accept Gridcoins as a trade-in "value"? And why should they? To me it rather sounds like a snowball system.

Bitcoin works on the very same principle, stores accept that. And Bitcoin is even more useless, literally turning electricity into heat, nothing more. Gridcoin is not well known enough to be at that level but the more people that use it the more respect it will have.

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Message 45990 - Posted: 30 Dec 2016 | 14:32:24 UTC - in response to Message 45985.

I'm not sure why you assume this has deviant intentions, as you did not explain why.


I do not believe in unofficial currencies. They are not good for anything. We should take care that the state and official currencies work well for all of us, rather than undermining them, rather than providing a "second reality", that breaks at the very first real crisis, in a situation when we will all depend on each other - in the one community that we will exist in, as contrasted to a virtual world community created by deviant computer scientists who seek the world domination and control, because they are not able to achieve it by natural means, even though they try to look very decent while doing that. Virtual currencies are based on *mistrust* in the mainstream society. Oh, I can't think of a better word for that than *deviant*!

Regardless of that - I stopped at the point when I learned that there is no other way to start earning GridCoins than joining the GridCoin BOINC team. This, in my opinion, goes against some of the most fundamental principles of BOINC. Many universities, or even countries, clubs, voluntary groups establish teams so that they *promote* the ideas of voluntary computing. GridCoin goes in the opposite direction: it builds on individual greed. People who dear to join do it for the sake of the shiny coin, for the sake of the low feelings of "I own!", and "I control!", which is exactly the opposite of the high motivations of joining BOINC: "I give!". Whatever, but how can GridCoin just put all those already teamed people (teamed for good reason!) out of the game and pretend that "this is it"??? NO, IT IS NOT. When asking about that, I got an answer: "you have a choice - if you want to earn money, you know what you have to do". Oh my! So why the hack there are teams in BOINC, if GridCoin destroys them? What a bad design choice! Does it not suggest that other choices of this community might also be weird?

And sure, they are. The main website has broken links in the tutorial, it advises you to go to join some funky IRC channels, where you are given false information and supposed to wait hours to get your first gridcoin for free, which is a requirement, if you want to join the network - or, you will find in many forums advises like "go to that forum and beg somebody to give or lend you some starting coins", so that you can emit some beacon and WAIT another looong time before you will see, if things are still broken, or you will eventually, maybe sometimes somehow be rewarded... while the gridcoin client will be using a lot of CPU resources on your PC without you knowing really what it does and why...
so THAT is an official SETUP procedure for a volunteer that is not necessarily computer-skilled? Are you trying to make me laugh, or what?
If you want people to use this, make a download package, where you click SETUP, and perhaps enter your CPID, and that's it. Stop talking about beacons, time windows, and other technical details, but tell the user instead what exactly is the gridcoin client going to do and use CPU for...

The false impression that GridCoin attempts to create - that you are actually not giving your computational time to good purpose projects for free, but you are being rewarded breaks at the moment you learn the exchange rate of GridCoin. Ah, yes, maybe later, if there will be sufficient deviant hope, things might change later.

Oh sure, we all watch the stats of BOINC, but that is for the sake of fun. These GridCoin people seem to look serious about their deviant craziness.

No, thank you, I have spent far too much time on this than I should have.
GridCoin is really NOT for me.

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Message 45991 - Posted: 30 Dec 2016 | 14:59:21 UTC
Last modified: 30 Dec 2016 | 15:02:19 UTC

Bitcoin works on the very same principle, stores accept that


I have found a list of 15 relatively unknown German shops which accept Bitcoins (as from Sep/2016). So even this well known crypto-currency is difficult to spend and that doesn't get better for Gridcoin. Again, dont forget that all known hard currencies include the (national) obligation to accept it and therefore have at least one political economy behind to take responsibility in case of a serious value loss. That is what makes them valuable. Well, of course there are exceptions and some governments don't give a damn either if in trouble and simply print more banknotes. ;-)

GridCoin goes in the opposite direction: it builds on individual greed. People who dear to join do it for the sake of the shiny coin, for the sake of the low feelings of "I own!", and "I control!", which is exactly the opposite of the high motivations of joining BOINC: "I give!".


Hey, let them have it their own way, the Gridcoin crunchers do something good even so, no matter the motivation. Let him who is without sin cast the first stone. My long shot guess is that the future reward for all the Gridcoins earned will never come, but I may be wrong.

Well, I have just noticed that we moved far away from the topic... shall we continue the discussion somewhere else?
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Message 45998 - Posted: 30 Dec 2016 | 19:58:09 UTC
Last modified: 30 Dec 2016 | 20:06:45 UTC

Pavel wrote:
PappaLitto wrote:
I'm not sure why you assume this has deviant intentions, as you did not explain why.

I do not believe in unofficial currencies.
There's no such distinction among currencies as unofficial. They can be made illegal or unacceptable by certain monetary authorities, but crypto currencies are perfectly legal (part of the present monetary system), as they can be freely exchanged back and forth to "real world" currencies.

They are not good for anything.
This is your opinion, but most of the rest of the world thinks it otherwise.
In certain extreme circumstances "real world" currencies also could be useless.

We should take care that the state and official currencies work well for all of us,
That's the job of the monetary authorities.

... rather than undermining them, ...
The present monetary system can undermine itself as the previous monetary crises (1933, ..., 2008) prove it. It is also the sign of that the monetary authorities are not in perfect control of the monetary system, either because they do not understand it well enough, or do not do their job well enough, or they are corrupted by their own power (or the combination of these). The intended purpose of crypto currencies (especially of bitcoin) is to reform or revolutionize the monetary system as a whole (in theory this system does not have monetary authorities, so there's nothing that can be corrupted). "Undermining" of real world currencies is only the consequence of this process (however it has not happened yet, and there's no sign of this).

rather than providing a "second reality", that breaks at the very first real crisis,
Every modern ("fiat") currency is a "second reality", they can easily broke down from time to time.

...in a situation when we will all depend on each other - in the one community that we will exist in,
I couldn't recall any longer period of my life when I did not depend on the community I live in.

as contrasted to a virtual world community created by deviant computer scientists who seek the world domination and control, because they are not able to achieve it by natural means, even though they try to look very decent while doing that.
This sentence makes sense for me only if I replace "computer scientists" to "communist/fascist dictators".

Virtual currencies are based on *mistrust* in the mainstream society. Oh, I can't think of a better word for that than *deviant*!
No. First, every currency is virtual. It is hard to believe when you can have it in your hand printed on a piece of paper called cash, but the most trivial proof of their "virtuality" called inflation. You are referring to crypto currencies as "virtual", but your statement is still wrong, as the crypto currencies are based on *mistrust* in the monetary system. The monetary system is only a part of the "mainstream society", however it is so important and powerful that it controls the whole. Crypto currencies want to change this (or at least I believe so). You can read my post about it here.

Regardless of that - I stopped at the point when I learned that there is no other way to start earning GridCoins than joining the GridCoin BOINC team. This, in my opinion, goes against some of the most fundamental principles of BOINC.
What "fundamental principles" are you refering to? BOINC is Berekeley Open Infrastructure for Network Computing. This is a tool, like a Swiss army knife of (network) computing, there's no high ideals behind it. Only the user of this tool could have high ideals which will determine this tool's purpose. It could be used for anything in the range of "saving the world" to "make yourself incredibly rich and surrounded by beautiful women" depending on the ideals of the user.
I think that every volunteer is free to choose their team and their projects. Gridcoin certainly brought a new factor into this decision, making many volunteers to join them. This is new in BOINC, but there's similar promotion in Folding@home: if you join the team EVGA the company could reward you in hardware.
However, I think that the Bitcoin Utopia project goes against my ideals of supporting scientific projects through BOINC, as this project is actually selling BOINC credits for Bitcoins at an extremely high exchange rate. (This process is made to look like a donation, but it's commerce.) You can read my post about this here.

Many universities, or even countries, clubs, voluntary groups establish teams so that they *promote* the ideas of voluntary computing. GridCoin goes in the opposite direction: it builds on individual greed.
Every organization you've mentioned could have their own crypto currency for motivation, GridCoin is only the most innovative to make it work for the first time.

People who dear to join do it for the sake of the shiny coin,
How could a virtual coin shine? :)

for the sake of the low feelings of "I own!", and "I control!",
I can't speak for every teammate, but I did not join the GridCoin team / movement for what you say I did it for. I joined it in hope for a hardware promotion from vendors in exchange of GridCoins, but it has a very low chance to happen. I also joined GridCoin to make myself able to give more to GPUGrid by compensating my expenses a little. I don't think that anyone could actually achieve any profit by earning GridCoins, not even its makers.

which is exactly the opposite of the high motivations of joining BOINC: "I give!".
You can give more if you have more.

Whatever, but how can GridCoin just put all those already teamed people (teamed for good reason!) out of the game and pretend that "this is it"???
This team did not put anyone out of the game. They built their team in their unique way (at the expense of other teams). You sound like you are jealous because they outsmarted every other team.

NO, IT IS NOT. When asking about that, I got an answer: "you have a choice - if you want to earn money, you know what you have to do". Oh my! So why the hack there are teams in BOINC, if GridCoin destroys them?
Perhaps the teammates are not motivated enough to stay in their old team.

What a bad design choice! Does it not suggest that other choices of this community might also be weird?
Motivation results in choices. Teams are always competed for participants, GridCoin has its own unique motivation which comes from the "real world".

And sure, they are. The main website has broken links in the tutorial, it advises you to go to join some funky IRC channels, where you are given false information and supposed to wait hours to get your first gridcoin for free, which is a requirement, if you want to join the network - or, you will find in many forums advises like "go to that forum and beg somebody to give or lend you some starting coins", so that you can emit some beacon and WAIT another looong time before you will see, if things are still broken, or you will eventually, maybe sometimes somehow be rewarded...
I have 106k GRC, if anyone needs starting coins just let me know the address where I should send some.

while the gridcoin client will be using a lot of CPU resources on your PC without you knowing really what it does and why...
The gridcoin client makes the gridcoin network to be alive (distributing and storing transactions).

so THAT is an official SETUP procedure for a volunteer that is not necessarily computer-skilled? Are you trying to make me laugh, or what?
If you want people to use this, make a download package, where you click SETUP, and perhaps enter your CPID, and that's it. Stop talking about beacons, time windows, and other technical details, but tell the user instead what exactly is the gridcoin client going to do and use CPU for...
Why are the technical details so important to you when you deny the idea of crypto currencies?

The false impression that GridCoin attempts to create - that you are actually not giving your computational time to good purpose projects for free, but you are being rewarded breaks at the moment you learn the exchange rate of GridCoin.
How could be greed the motivation if the exchange rate of GridCoin is so low?

Ah, yes, maybe later, if there will be sufficient deviant hope, things might change later.
According to my friends and family it is quite deviant to spend this much I donate for scientific research, of which most probably I will never "profit", as it takes more than a lifetime. But in my vision it has more impact in our future than anything else I could do. But all we got here and now is only deviant hope for a better future.

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Message 46002 - Posted: 30 Dec 2016 | 20:56:12 UTC - in response to Message 45999.

Thanks. I have read that thread now. I think it confirms my grumbling to a large extent, but I join your deviant hope of a better future! :-)

But I am not going to answer the questions, you pointed out, there would be things to say, but no time for that.

For sure for a very little ant like me it does not pay off to join this. And even for your thousands earned, I think it hardly compensates the real cost of the extra power, time and effort you have invested into this deviant risk.

But primarily, I do not think crypto-currences are going in that direction of your "better future", as they lack the very basic princple I expect from a better future: a fair share of value and rights.

Founders and people joining those kind of deviant projects early accumulate too much "food" just because they started early, when they had a large piece of share. This is not fair towards users joining later on. I am not going to support a project that is based on flawed unfair principles in its very core idea.

And also, I understand now that it has nothing to do with any BOINC official strategy, it is just a bunch of guys who got together for their fun and created their own project. That's OK, but it was not very clear to me until now, I think they should explain themselves in a little bit better way, and of course, make the start much more easy, the current way is just too strange. From that thread you pointed to it is obvious that almost everybody is disappointed by the process of joining that club.

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Message 46005 - Posted: 30 Dec 2016 | 21:22:07 UTC

(for others in this thread - sorry for spamming you here :-), the last 10 messages were just moved here by moderator from another thread http://www.gpugrid.net/forum_thread.php?id=4465)

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Message 46045 - Posted: 2 Jan 2017 | 23:30:10 UTC - in response to Message 45983.

There's no such thing as a free lunch.

There is if you partake of "recession lunch" at Costco. ;-)

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Message 46320 - Posted: 25 Jan 2017 | 22:39:28 UTC - in response to Message 45998.

How frequent you get a pay out from Gridcoin?

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Message 46321 - Posted: 25 Jan 2017 | 23:30:44 UTC - in response to Message 46320.

12-18 times per day.

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Message 46322 - Posted: 26 Jan 2017 | 2:48:03 UTC

What's your magnitude now Zoltan?

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Message 46323 - Posted: 26 Jan 2017 | 2:50:17 UTC - in response to Message 46320.

How frequent you get a pay out from Gridcoin?


It varies for me. Sometimes I go several days without any payout, other times I get 3 or 4 in a day.

I've participating in Gridcoin for about a year now and my total is about 20K GRC.

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Message 46342 - Posted: 26 Jan 2017 | 20:48:59 UTC - in response to Message 46321.

That's really good.

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Message 46343 - Posted: 26 Jan 2017 | 20:55:02 UTC - in response to Message 46323.

It seems good GPUs and high RAC is important here. I had some no work issues and error units and time out units, so it took almost two months to get 200 GRC. :)
Now I changed project to SETI as my slow GPU can't finish long runs on time and get paid 20grc in about a week...

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Message 46364 - Posted: 27 Jan 2017 | 23:55:38 UTC - in response to Message 46343.

It seems good GPUs and high RAC is important here. I had some no work issues and error units and time out units, so it took almost two months to get 200 GRC. :)
Now I changed project to SETI as my slow GPU can't finish long runs on time and get paid 20grc in about a week...


Gridcoin pays out based on your relative contribution to the Gridcoin team's RAC on a project. It's possible you could earn more overall points on GPUGrid, but with a slow card your relative contribution as compared against other team mates on the project will be very small. However, if you work on a project which can make better use of a slower card, and especially projects which have fewer people crunching, you can make a relatively larger contribution and thereby earn more GRC.

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Message 46380 - Posted: 29 Jan 2017 | 12:40:00 UTC - in response to Message 46364.

It's not a useful e-currency ATM & until you convert it into one (bitcoins) it's of theoretical value only. Also, it's value against the bitcoin is steadily falling, & there are very few conversions; not many people want to buy Gridcoins.
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Message 47370 - Posted: 5 Jun 2017 | 17:28:42 UTC
Last modified: 5 Jun 2017 | 17:35:39 UTC

I have tried to convert GRC to US Dollars on c-cex.com to buy real things like an additional GPU. But the site seems not to work at all.

So this leads me to a nasty question: Has anybody at any time spent some GRC in the real economy? Or are we all staking for the promise it would get a real value in the future?

If anybody has an idea, how to convert the GRC to spendable US Dollars - and it works - let me know.

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Message 47371 - Posted: 5 Jun 2017 | 17:53:26 UTC

I've not yet tried as I am sitting on it currently to see where the price spikes lead us. Currently sitting on $1500 "USD" worth of Gridcoin. As to whether I can get that into USD with the same number value is another question.

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Message 47372 - Posted: 5 Jun 2017 | 18:04:37 UTC

There we are. My savings are not has high as yours, but it would be enough to set up another system or to buy a GTX 1080. Not even the fees for converting scares me away! I want to know if it is something real or just a promise.

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Message 47373 - Posted: 5 Jun 2017 | 18:18:32 UTC - in response to Message 47371.
Last modified: 5 Jun 2017 | 18:19:33 UTC

I've not yet tried as I am sitting on it currently to see where the price spikes lead us.
It's like the stock exchange. If you wait too long, maybe the spike is over. You can never be sure of the future.

Currently sitting on $1500 "USD" worth of Gridcoin. As to whether I can get that into USD with the same number value is another question.
The lower the price you set, the faster you can convert it to USD. If it's not urgent, then it's practical to set a higher exchange rate (than the current highest rate), and not to sell all your GRC to USD at once. When you've sold some GRC for USD (a spike came), then you can re-evaluate the situation, and set the volume and the exchange rate of the next transaction accordingly.
Before you ask: I've not tried it yet.

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Message 47374 - Posted: 5 Jun 2017 | 18:59:09 UTC

So for all three of us, it is still a theoretical endeavor… anybody converted to real money?!

PS retvari, side question I have seen that your RAC has fallen significantly in the last weeks, is it just the heatwave or something else?

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Message 47375 - Posted: 5 Jun 2017 | 19:05:44 UTC - in response to Message 47374.

So for all three of us, it is still a theoretical endeavor… anybody converted to real money?!
Not yet, but I've successfully registered on https://c-cex.com.

PS retvari, side question I have seen that your RAC has fallen significantly in the last weeks, is it just the heatwave or something else?
It's the summer. I've put my GTX980Ti hosts offline until September, as my electricity bills exceeded a certain threshold :)

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Message 47376 - Posted: 6 Jun 2017 | 6:58:42 UTC - in response to Message 47375.

I've got 25 USD for 438.1 GRC :) Theoretically.

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Message 47377 - Posted: 6 Jun 2017 | 10:37:19 UTC

Holy crap the price just keeps going up, we're almost at 6 cents per gridcoin

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Message 47378 - Posted: 6 Jun 2017 | 13:04:20 UTC

I've been selling my mined Gridcoin (and buying more when the price is good) since February. I usually operate on either Poloniex or Bittrex exchanges. You can sell your Gridcoin for Bitcoin on the exchanges and then sell your Bitcoin for USD on a site like Coinbase.

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Message 47379 - Posted: 6 Jun 2017 | 15:15:25 UTC - in response to Message 47375.

Not yet, but I've successfully registered on https://c-cex.com.

This is my primary problem; I am waiting for their confirmation e-mail since last Friday. I insisted on their customer support several times without any success / answers.
Holy crap the price just keeps going up, we're almost at 6 cents per gridcoin

That’s the reason I would like to sell now.
I usually operate on either Poloniex or Bittrex exchanges. You can sell your Gridcoin for Bitcoin on the exchanges and then sell your Bitcoin for USD on a site like Coinbase.

I would like to avoid using several sites for the transaction as I assume that you are losing at each transaction twice.

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Message 47380 - Posted: 6 Jun 2017 | 16:37:29 UTC - in response to Message 47379.

Not yet, but I've successfully registered on https://c-cex.com.
This is my primary problem; I am waiting for their confirmation e-mail since last Friday.
I insisted on their customer support several times without any success / answers.
Have you checked your spam folder?

Holy crap the price just keeps going up, we're almost at 6 cents per gridcoin
That’s the reason I would like to sell now.

Surely the high exchange rate is the first thing that catches your eyes, but you should see the trade volume at the bottom of the same graph. If the volume is low, you could not sell your coins instantly at the high exchange rate, as there's no call for GRC at that high exchange rate. If you want to sell your coins instantly, you have to set the exchange rate of your sell orders to meet the entries in the buy orders tab, but in this case you accept the lower exchange rate set by the buyer, and this would make the exchange rate decrease.

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Message 47381 - Posted: 6 Jun 2017 | 17:43:02 UTC

yes, I did check the spam. this is not the problem. password might be too long with 22 digits.

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Message 47398 - Posted: 11 Jun 2017 | 3:17:46 UTC

So with Gridcoin up 35% in a day pretty much 100 folding us early investors' money, does anyone have any predictions of where this will end up?

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Message 47399 - Posted: 11 Jun 2017 | 12:31:25 UTC - in response to Message 47398.
Last modified: 11 Jun 2017 | 12:38:26 UTC

So with Gridcoin up 35% in a day pretty much 100 folding us early investors' money, does anyone have any predictions of where this will end up?
As far as I understand, Gridcoin differs from BitCoin fundamentally, as GridCoin is a FIAT money (there could be made as much as we want), while finite BitCoins could be made (=be mined). So compared to any FIAT money (crypto currencies, or real-world currencies) BitCoin's exchange rate would rise infinitely (in theory), especially after all have been mined. This is not the case of GridCoin, as it is a FIAT money. Its exchange rate is completely made up by the behavior of the parties of (crypto) coin exchange, so you can't predict its exchange rate, as there are many many people (and currencies) involved. You should not trust any predictions, even those I imply at the end of this post. I wonder if it ever will come to light what happened this time (if there was some kind of external event, or it purely comes from the behavior of coin exchange) which caused this dramatic spike in GRC's exchange rate. If it's based only on the coin exchange, then those who have many thousand GRCs to sell for USD should do it now, but do it in many small (~1000 GRC) packets in a rising exchange rate (by 0.001 USD/GRC) to motivate GRC buyers (as they would feel that they have to buy as soon as they can, or else it will go even higher. If you put all your GRCs in a single packet that would make buyer to feel safe and delay, meanwhile those who want to sell their GRCs fast will put theirs in at a lower exchange rate). But don't blame me if you sell all of your GRCs, and GRC doubles its exchange rate next week, as this could be caused by your actions itself. But it's completely possible that the exchange rate will return to its previous level.

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Message 47446 - Posted: 15 Jun 2017 | 12:41:50 UTC
Last modified: 15 Jun 2017 | 12:52:32 UTC

I have tried Gridcoin mining too and still have a problem with low or no earings at all .. and would kindly ask you to help. I have >900K RAC at GRPUGRID and Rosetta running as well. My magnitude is 95 and Exp PPD is 21. But still the Act PPD is 0... and my last +1 GRC earing received 13 days ago. 11 GRC balance only in the wallet, but that should not affect the reward for research.



Beacon is set and everything seems OK... do you know what is going on?

Thanks!
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Die Liebe allein versteht das Geheimnis, andere zu beschenken und dabei selbst reich zu werden. [Clemens von Brentano]
Only love understands the secret of giving and getting richer at the same time [Clemens of Brentano]

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Message 47679 - Posted: 24 Jul 2017 | 4:19:13 UTC

I just wanted to report back: I have filled gasoline in my car at the petrol station and paid with Gridcoins (GRC) this afternoon.

Hold on! Not so fast!

I changed GRC to BTC at the http://www.poloniex.com exchange then I forwarded it to my http://www.xapo.com account and paid with the recently acquired Debit card from http://www.xapo.com. I do not know and I do not want to know, how much I lost in all the fees on all these steps, but it works, I paid with GRC for something real.

I figured out, that I might fill my tank once in a month (at the actual value of USD 0.04/1.0 GRC), and still save some coins for the next spike of its value – but do not get to enthusiastic it does not pay the electric bill nor pay back the computer components.

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Message 47680 - Posted: 24 Jul 2017 | 4:25:45 UTC - in response to Message 47446.

I have tried Gridcoin mining too and still have a problem with low or no earings at all .. and would kindly ask you to help. I have >900K RAC at GRPUGRID and Rosetta running as well. My magnitude is 95 and Exp PPD is 21. But still the Act PPD is 0... and my last +1 GRC earing received 13 days ago. 11 GRC balance only in the wallet, but that should not affect the reward for research.



Beacon is set and everything seems OK... do you know what is going on?

Thanks!


Ask for help in https://kiwiirc.com/client/irc.freenode.net:6667/#gridcoin-help. The moderaters are very helpfull, and will guide you step by step. Or try a pool: https://www.grcpool.com. This seems to quite easy as well.

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Message boards : Number crunching : Gridcoin