28-March-2017 : Gridcoin rises 50% (GRC:BTC)

cm-steem (67)in #gridcoin • 7 years ago (edited)

Gridcoin has risen from ~570sats to 1000sats in <24hrs!

Chart

I have highlighted in red the previous points at which Gridcoin encountered surges in marketcap over $4mil:

Between Oct and Dec 2015, we began advertising to BoincStats and we implemented DPOR which ceased relying on a centralized statistics server for the reward mechanism. We experienced a surge of up to 50 new team members per day.
March 2016 - Gridcoin got onto the front page of Reddit which brought thousands of new users to the Gridcoin community.
September 2016 - All science based cryptocurrencies experienced a large surge in trading volume, potentially several whales giving the scientific cryptos some love?
March 2017 - Gridcoin required an emergency mandatory upgrade, and whilst exchanges/services wallets are in maintenance the trading volume surged. The mandatory upgrade was successful, we're currently awaiting confirmation from exchanges and services that their upgrade has been successful.

Interesting notes:

The trading volume required to surge over 100% in September 2016 was approx $600k where as it has only taken $60k trading volume to surge the market cap approx 50% in March 2017.

Future?

We face scaling the Gridcoin network from rewarding 2k users to between 250k and 4million users (active/total size of the entire BOINC Commuity) when we successfully remove the mandatory team Gridcoin requirement (200k GRC bounty!). As a proof of stake cryptocurrency, users are required to buy GRC if they wish to solo-stake; If 50k users (small chunk of BOINC community) were to buy 1000 GRC each (enough to stake once per month..ish) there currently isn't enough GRC on markets to supply such a demand.
If a magnitude multiplier based on quantity of coins burnt is implemented in the future, the coins in supply will decrease. Reddit discussion CCT Discussion

If anyone has any questions about Gridcoin, ask away.