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What do you think of the CURECOIN teams that pose as users ?

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biodoc

Diamond Member
Dec 29, 2005
5,768
1,209
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Finally got to the power companies website. For this last bill I used 145.9 KW per day. Below is a breakdown:
Basic Charge 10.50
Energy Use Charge
1000.000 kWh x 6.85000¢ 68.50
3816.000 kWh x 7.57200¢ 288.95
Transmission Charge
4816.000 kWh x 0.23700¢ 11.41
Distribution Charge
4816.000 kWh x 4.03500¢ 194.33
Total $573.69
If it makes you feel any better, 4816 kWh would have cost me $1099 in Massachusetts. :(
 

TennesseeTony

Elite Member
Aug 2, 2003
4,047
3,105
136
www.google.com
Transmission Charge? Distribution Charge? That the same on every bill, no matter how much you use?

A touch under $500 here, with $15.25 'customer charge' and flat 9.414* cents/kWh.

*variable rate, I just learned. As low as 9.09 cents in October, as high as 9.93 cents in July.​
 
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Howdy

Senior member
Nov 12, 2017
569
465
106
If my electric bill was anywhere near what you guys are paying I'd ship my pants......




Although I'm thinking my next one might just make it happen............
 

Howdy

Senior member
Nov 12, 2017
569
465
106
Oh gawd, did that actually air on public TV? LOL!
I am not sure, there are no K Mart's around here anymore. You know you chuckled though........:)

LOL, just watched it again......I just shipped my drawers.... LOLOLOL
 

TennesseeTony

Elite Member
Aug 2, 2003
4,047
3,105
136
www.google.com
Oh, it's not that bad! You forgot to due the 28% difference in exchange rate thingy.... Let's see, carry the 1, divide by zero, multiply said zero by three....wait, yep, it is that bad.
 

Kiska

Senior member
Apr 4, 2012
790
200
116
Oh, it's not that bad! You forgot to due the 28% difference in exchange rate thingy.... Let's see, carry the 1, divide by zero, multiply said zero by three....wait, yep, it is that bad.
And yes after conversion to US dollars I pay about 21 US cents before taxes
 
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ao_ika_red

Golden Member
Aug 11, 2016
1,670
707
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Sorry to bring this up again, but what @hiigaran said over Brony@home forum caught my attention.
I briefly looked into this, but got a little confused. Is this like CureCoin, where you need to change your team number as well, or is FoldingCoin a straight up upgrade for anyone without having to change teams? I haven't read anything about a team number, but at the same time, I don't understand how money supposedly appears out of nowhere.

Cryptocurrency has always been confusing for me.
I admit that I never delve into this digital mining euphoria and apathetic about it. But I have same question with him, that how one could earn money from doing basically a charity? Stanford seems never pay anything to us, so do any distributed computing platforms. Where does the money come from?
 

ericlp

Diamond Member
Dec 24, 2000
6,077
185
106
If it makes you feel any better, 4816 kWh would have cost me $1099 in Massachusetts.
Don't feel too bad, that would cost approx 2,500 here in Hawaii! :D

you know I was going to ask if anyone here was doing Gridcoin? But, if you did, than you'd have to join (Xcoin) group. I was just reading that Seti is asking for gridcoin donations. So, not only do you get to crunch, but turn around and donate your coins as well! Wow, a win win. LOL...

But, I hear ya. I think it does take away the spirit of competition. Tho, on the other hand, I suspect that these coin groups, don't give you 100% of the profit, and they while you crunch for a project 50% of the time maybe you crunch for coin mining the other 50%? So... you really aren't giving all your resources to the project. But......... in one way, you are still doing some work for science, and in another way, some of the kickback (money being made by ones effort) can go to paying for power and computer upgrades.

I was looking at BitCoin with the hardware I have, I think I would make 7 bucks a day, withe all my resources 100% going to mining. Not bad, but my system would be on and used 100% of the time. for a 2.5K dollar computer I would need to mine for about a year solid, and then if the BitCoin kept the same value you would get your cash back. I guess, considering if you could convert you coin to dollars. Shrug.

I think if it furthers along the research, and makes more people join a good cause... That's the whole point right? When do we see AnandCoin? LOL!
 

StefanR5R

Diamond Member
Dec 10, 2016
3,837
4,174
136
Q:
I admit that I never delve into this digital mining euphoria and apathetic about it. But I have same question with him, that how one could earn money from doing basically a charity? Stanford seems never pay anything to us, so do any distributed computing platforms. Where does the money come from?
A: The connection between cryptocurrency and volunteer science projects is possible in cryptocurrency systems which use a Proof-of-work system. The work consists of WUs of the volunteer science project. (The science project is generally not involved into the decision to let their WUs double as cryptocurrency work.)

Q: How do you get money by lending computer power to a cryptocurrency system?
A: AFAIK you don't get money, you are being paid out in cryptocurrency. You may then attempt to exchange this cryptocurrency for money, or for anything else worth something.

Q: What do you do for a POW-based cryptocurrency system when you volunteer computer power to it?
A: You help secure their transactions.

Q: What do you do for society?
A: Quicken our march towards the heat death of the universe. Of course if it's a POW cryptocurrency which uses volunteer science WUs as work, you also do some science.

Q: What is cryptocurrency?
A: "digital assets", i.e. virtual objects of speculation. (It is not a payment infrastructure, if the term "currency" made you think so for a minute. Payment infrastructures are designed for transactions happening magnitudes faster than exchange rate fluctuations, not the other way around.)

(Correct me where I'm wrong.)
 

StefanR5R

Diamond Member
Dec 10, 2016
3,837
4,174
136
PS,
"Q: What do you do for society?
A: Quicken our march towards the heat death of the universe."
And of course you help a few lucky speculants getting rich at the cost of the many.
 

ericlp

Diamond Member
Dec 24, 2000
6,077
185
106
Q: What do you do for a POW-based cryptocurrency system when you volunteer computer power to it?
A: You help secure their transactions.

AKA, you are mining... by storing "BLOCKCHAIN" records on your system. I wish they wouldn't beat around the bush on this.

The REAL question is HOW much of your processing power is getting used for "securing transactions" vs whatever project you signed up to crunch for. I bet it's 50/50.

Also, another question would be, when crunching for "securing transactions" how much of that money is being returned to the user vs being kept for the creator or establishment... Hmmm, I am thinking it's not 100%.

Gotta read between the lines on that!
 
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ao_ika_red

Golden Member
Aug 11, 2016
1,670
707
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Thanks for the explanation everyone. Really help me getting a grip with this digital currency thing. I just don't use to something that so volatile, even GPU price volatility looks like a mere marble on the street. This is more kind of Zimbabwean super-inflation than anything else.
 

Ken g6

Programming Moderator, Elite Member
Moderator
Dec 11, 1999
15,283
2,273
55
And since we're on that topic, check out FoldingCoin:

https://www.reddit.com/r/gpumining/comments/5vjz9i/foldingcoin_and_curecoin/

You'll get a little more than half the money if you join only FoldingCoin and stay on the TeAm. FoldingCoins are worth less, but you get more of them.

Note that you have to change your username to join FoldingCoin, which means starting from scratch. I'll now be known as "KenG6_ALL_1L2FCFF7KQozWduokvBMCAKvurAbj2rwnC". You have to get 10 WUs done to get bonus credit again. If I had a bunch of computers I'd probably set up several VMs for CPU work until I was getting bonus credit. As I don't, my production will drop for a day or so.
 

StefanR5R

Diamond Member
Dec 10, 2016
3,837
4,174
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Re #45: CPU slots from the size of e.g. Threadripper churn out WUs pretty quickly, since CPU WUs are smaller than GPU WUs.

Re #46, #43: Far more prevalent than new schemes being invented, we can see how just a few old ideas are being repeated ad nauseam. New cryptocoins will be initiated for decades to come, just like we continue to receive 419 e-mail.

Edit: cryptocoin video tutorial
 
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Ken g6

Programming Moderator, Elite Member
Moderator
Dec 11, 1999
15,283
2,273
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Well, I think I'm now making 5 cents an hour Folding. :) Either way I get to pass everybody on the TeAm again, which was the most fun part of getting to where my old account is now.
 

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