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RE: The Total and Utter Noobie Guide to Successfully Solo Mining the Cryptocurrency Gridcoin
Does this coin have investment value in it ? Rather than mining ?
I would like to invest some money in any coin, but it should be so new, that it is under $1.
To make the same profit as early adopters of bitcoin made.
Do you have any suggestions, I would like to invest slowly $200 per month. And I am in it for the long term.
Here is what I have an eye on.
3: # Steem
2: # Ripple
1: # IOTA
So, any suggestions would be appreciated. And possible prize predictions in long term.
Thank you :)
I am not a crypto investor, as PhD students do not tend to have a whole lot of money to spare. That being said, I do mine and hold Gridcoin.
I think Gridcoin is going to do well for two reasons:
It has a very well established platform (BOINC) behind it, which has had over a decade of development. This platform allows Gridoin to reward research, instead of wasting hashing power. It is essentially an alternative to DPOS to prevent waste.
Researchers are able to outsource their projects to the BOINC platform and reward users in GRC for crunching the work units. Everything is already in place for this to happen, and it is only a matter of time before the first project like this is introduced. Essentially, the Gridcoin network makes hundreds of thousands of logical cores available for charter on a robust, tested platform.
In terms of investment advice, I do not think I am at all qualified to give it.
Okay, Thank you sir :)
I will do a little research on the mining power it needs to pull some profit from Gridcoin.
I hope it is still in Khps or atleast ~2Mhps ( as I don't have that much power in my computer and graphics card is not that good.
But I will look at this coin. And probably use your tutorial if my calculations come up.
Thank you :)
"Mining" Gridcoin is essentially different than other coins. We are not wasting computing power by calculating useless hashes but rather perform scientific calculations for which we get rewarded. Negative point is, that we can't provide Mh/s or something like this, since it depends on the project you choose. There are some projects which profit from older hardware, for example the best graphics card for milkyway@home is the r9 280x which is quite some years old now.
But even if you can't or don't want to mine you can still invest and gain status as an Investor. You are getting annual 1,5% for the coins you hold and the investment price isn't that high right now, so maybe give it a try ;)
You cannot compare hashing power when it comes to mining Gridcoin. Because you are contributing to actual science, it can also only be done with CPUs and GPUs - not ASICs.
Generally speaking, the better your hardware, the better your mint. We generally compare GPUs by their GFLOPS, and CPUs by their generation and clock speed in MHz.
See these:
CPU Return
GPU Return