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RE: Gridcoin Community Hangout #006 (RSVP & Suggest topics)
I hope this is not a dumb question coming from a total Gridcoin noob ;)
I'm becoming very interested in Gridcoin/BOINC as an attempt to utilize our idle servers into useful tasks that can bring us additional revenue.
I have been listening to the Gridcoin hangouts, and have a basic question.
If all the BOINC projects are voluntary and the work is done voluntarily by the participants,
Can you explain where does Gridcoin get its value?
Besides the "miners" that want to stake, who else would want to buy Gridcoin?
Thanks for your answer and sorry if I'm missing something obvious.
Regards,
This is actually a very good question which is probably bothering many new users who are unfamiliar with cryptocurrencies. It looks simple enough, but to answer it properly (so that even a noob finds it clear and understandable), we need a true crypto-master. Don't worry, we have many of them on our team :)
I'll be listening ;) Thanks!
It has value as a cryptocurrency alone, it doesn't require proof of work for creating blocks thus is far more energy efficient than Bitcoin & it has faster block/confirmation times.
Someone may buy GRC to speculate with, another may buy GRC to obtain a larger vote weight within the whitelist polls in order to get their project whitelisted in the future.
Some buy GRC to then rain onto Gridcoin/BOINC users for their completed work.