Posts by LennStar

1) Message boards : News : SiDock@home is whitelisted in Gridcoin (Message 1074)
Posted 8 Jul 2021 by LennStar
Post:
Hi all,
I am totally new to coins etc. Just a few questions, how many work units do we have to generate in BOINC to qualify for a coin / or part of a coin. Once you have coins in your gridcoin wallet, what can you do with them? Is it worth joining the scheme if i do not intend to buy any coins?

Thanks for your time in advance,

Ivor Cogdell


Hi! I think I first explain the payout for "proof of BOINC work".
Gridcoin distributes a fixed amount of GRC to all projects equally. In the projects each the payout gets distributed by credits. Work 10% of the WUs (of Gridcoiners) and you get 10% of that projects payout.

Your relative amount of work is measured in magnitude. There is a minimum magnitude to be included, but that is very low. (0,05 magnitude??) Somewhere in the range of one SIDock WU per week or less, so really no problem. (Magnitude is a long time average, so it takes time to get up or down.)

Now, to get your payout you need to "stake a block". I leave out the math and details here, it means the Gods of Random select one of your GRC to be the lucky one. That sends you a block finding bonus and all your accrued GRC (max. 6 month).

The problem is of course if you have no or only very few GRC. The Gods of Random may be blind to you.

For those people there exists a pool. Basically you give the pool your work and the pool pays you based on that whenever the bigger pool adress stakes.

Since I have never done it, go to gridcoin.us to read about that stuff. (You can also come to Discord channel https://discord.gg/q6AkuZfv )
Everything should be explained there. Your main points are: wallet, pool, and beacon (though I am not sure if you need a beacon for the pool)
2) Message boards : News : SiDock@home is whitelisted in Gridcoin (Message 1059)
Posted 30 Jun 2021 by LennStar
Post:
Gridcoiner here. Started chrunching. Will not be much but every bit helps, right? ;)




©2024 SiDock@home Team