RE: The Gridcoin mining experiment - RAC is going down again
Thank you for the good analysis regarding the RAC. I noticed that WCG only granted me 1 valid task per day and machine over the Xmax days - even though all my 4 machines when crunching full time. Maybe such a behavior could explain the magnitude drop?
Regarding the rise in GRC value - i think one should a bit
Hello, i would like to point out that a practical, widespread and usable crypto currency needs to fulfill 3 criteria:
1.) Low transaction cost - e.g. to buy a pizza without large addition costs
2.) Stable curency - e.g. if you sell the pizza you want to be sure that the currency is stable for the next days.
3.) Fast transaction - both people in the pizza place do not want to wait log to perform the exchange (pizza vs. currency)
I think Bitcoin does not fulfill most of the criteria today. However, we gridcoiners should not hope for an infinite rise in value.
best
Lars
I don't think so. The changes are smooth and there haven't been any WU shortages on VGTU that I know of.
At least i can agree with the observation that the there seems to less rewards. For me i did assigned more CPU into my projects, but i received less coins. I thought this was related to more competition since more and more people joined the network. Could the observed effects are beeing related to more people joining the team and crunching, but not being able to stake (solo mining with low amount of GRC)?
As there comes more competition in the project your magnitude will drop, that is how it works. But what is unclear is why the RAC itself drops.