Community post
GridCoin got competition?
As you may have seen on the Gridcoin weekly project update by @parejan there is another new Cryptocurrency called "Biblepay" to reward distributed computing in boinc but focussing only on Rosetta@Home. Its a "Christian Charity Currency" which donates 10% of all generated coins to Charity. Its PoW only and running only on Cpu's.
You can learn more at https://www.biblepay.org/
Now my main question:
Do you think BiblePay is "competition" and people will switch from GRC crunching to Biblepay?
For me i think NO because its Rosetta and PoW only (wasting hashes on keeping the network stable) and GridCoin already got a huge community. Also im a big fan of GridCoin xD. Anyway I would call BiblePay more a partner in helping Boinc grow :)
ps.: If there is some misinformation im sorry and please correct me. Also sorry for my not that perfect English. Im new on steemit and i am thankful for any feedback. Positive or negative.
Replies (10)
Hilarious.
Zero technical information on the website. Waste of time.
Youre right. They are even advertising with "Less mining heat than bitcoin - using the novel Bible Hash algorithm" without saying why and how.
It sounds awful, I cant stand religion at the best of times. I suppose if it gets more BOINC work done it might be ok, but I dont think thats any real threat to Gridcoin TBH.
So, the Bible is a Salt?
KJV=King James
Original BiblePay White Paper and New White Paper
https://pool.biblepay.org/Docs/BiblePay_White_Paper.pdf
https://drive.google.com/file/d/1xndlt3HWTWUhZKTql3ajPFItuEUaTkJw/view
BiblePay is #1 Contributing Team on Rosetta@home: https://boinc.bakerlab.org/rosetta/top_teams.php
Well Gridcoin has 3 times the Rosetta credits of Biblepay, and more than any other team, so Gridcoin is the top contributor https://boincstats.com/en/stats/14/team/list/0/0/0
Biblepay does have a high RAC though so may catch up soon on a single project, but Gridcoin is active on dozens of other projects too.
BiblePay's code is built to support multiple projects,
World Community Grid (WCG) is the 2nd project supported by BiblePay.
https://www.worldcommunitygrid.org/team/viewTeamInfo.do?teamId=JRD1XTFK92
BiblePay also does not have a research payout issue like Gridcoin,
where a Gridcoin research miner may wait months to receive payment for work done,
all BiblePay researchers are paid daily from the blockchain.
===
Bitcointalk: https://bitcointalk.org/index.php?topic=2388064.0
Reddit: https://www.reddit.com/r/BiblePay/
Twitter: https://twitter.com/BiblePay
Discord: https://discordapp.com/invite/yWgbKdM
'issues' is a loaded word, it tends to make people think there is a problem. There is no problem per se, its PoS based so you get rewards in line with your staking frequency, in any mature PoS system small holders have to wait a long time. Fortunately there are a few community run pools to help newbies on their journey. The devs are also working on a potential demand-based payout, the user withdraws research rewards when they want to.
We welcome the competition. After all, more competition means more work to scientific research. If someone is catching up on Rosetta I guess we have to push harder, but it's still a win for either party :)