nctr

5 ms·

1.
by nctr 10y ago
It's not only mining Bitcoins, but also earning money by running BOINC proejcts (worldcommunitygrid,...). Then again, this could also be done without the additional comission by just running Gridcoin.
2.
by nctr 10y ago
ah yes, true that. Then I was wrong, does suchflex also mine ETH then?
3.
by nctr 10y ago
Yes, but suchflex is only about those that you can either mine with ASICS (PoW) or CPUs and GPUs (in this case Proof of Research with Gridcoin). Pure PoS cryptocurrencies cannot be mined by suchflex.
4.
by nctr 10y ago
The whole thing is based on Gridcoin and BOINC anyway, so the good thing that comes out of it is that BOINC research projects like Rosetta@home get more computing power for free. For this the suchflex guys earn Gridcoins, which they can sel
5.
by nctr 10y ago
This consists of two different parts, the first is just mining cryptocurrencies, but for that you need ASICS in order to be competitive. The second part is based on Gridcoin, a cryptocurrency that rewards BOINC computations in a decentraliz
6.
by nctr 12y ago
Why does Proof of Stake not work in your opinion?
7.
by nctr 12y ago
There are alternatives, Proof of Stake for example, or gridcoin, where the computing power to "mine" gridcoin goes towards scientific projects via BOINC.
8.
by nctr 12y ago
Not all BOINC projects count toward the gridcoin score, only whitelisted projects.
9.
by nctr 12y ago
1) if the BOINC project servers were down then gridcoin would continue to function as a normal PoS coin and when they are online again you get the PoR bonus again 2) I think the BOINC foundation is very trustworthy and the advantages of con
10.
by nctr 12y ago
yes that is correct, the currency itself is decentraliced but the amount how much you mine additionally ("Proof of Research") depends on the BOINC project servers.
11.
by nctr 12y ago
There is also Proof of Stake to secure the network, which does not waste electricity as much and on top of that the amount of stake you get for each vote to secure the network could also be made dependent on the amount of work you do for a
12.
by nctr 12y ago
what do you mean with gridcoin stocks? It's not cryptocurrency stocks but real world stocks, so yes you might argue about the benefit of these but there's certainly already a lot of money being made in this area. But yes as of now
13.
by nctr 12y ago
There is already such a currency, it is called gridcoin. The network consensus is reached by Proof of Stake instead of Proof of work, so no computational cycles are "wasted" on proof of work. But how much stake you get with is als