Gridcoin Wallet

[GTP]

Thanks to a question I asked ChatGPT today, I found a really cool piece of software that will reward me for crunching data in my Boinc account.

All 4 projects I've previously added to Boinc are supported, so now while I'm crunching data I'm getting rich! (hahahah)

I have 15 PC's in my "pool" 3 Windows PC's, 12 PC's a mixture of Linux Mint 22, WattOS 13 and q4os.
I put Mint 22 "Mate" on PC's that have good specs, WattOS on PC's with low specs and q4os on PC's with only 1 GB ram and 2 core processors.
They all work very well.

All 12 Linux PC's 12 are running headless (I log in daily via Teamviewer to check them, synchronise Boinc with Boinctats/BAM and apply any updates) the 3 Windblows PC's are not running headless.

It took only a few minutes to setup my wallet. There were a couple of things I didn't understand but a question to ChatGPT sorted them for me.

Currently waiting for Gridcoin to find my CPID, apparently can take up to 24 hours.

 

[frase]

I am interested in this though how high is your power usage?

 

[GTP]

Because these are just old PC's/laptops it's not like running an "Antminer." I expect my power bill to go up but not to an excessive amount.
I just got my power bill so It doesn't reflect the extra usage. (I've just set all this up.) I'll have to wait till I get the next one.

They run 24/7 but I doubt it will break me.

I'll report back when I get my next bill...

 

[GTP]

Woohoo, received my first "Gridcoin" today from crunching data on BOINC.

I am now the proud owner of .45 GRC.

I also had some issues with BAMStats not displaying all projects for all 15 "crunchers."
Thanks to ChatGPT for putting me on the right track, I now have all projects crunching data in my pool.
I should get more coins faster now.

 

[GTP]

UPDATE:

Finally got everything setup and it's working splendidly!
Making about 6 GRC per day.
I now have almost 15 GRC in total, and I can see that another "payout" is imminent.
It's been a steep learning curve and I've learned a great deal, but I would have been floundering without ChatGPT's invaluable help.

 

[Kitten Kong]

What is the value of the grc, compared to the energy consumption?

 

[Markverhyden]

What is the value of the grc, compared to the energy consumption?

But that's not how that should be valued. Like any other "investment" people count on appreciation for the gain. Few years ago I bought a couple of used S9 Antminers. The cost of electricity was around 2-3 times the value of the bitcoin mined. But that was when BC was in the low 10's of thousands so it's worth much more today. Haven't checked in a while but I'd bet my BC holdings just barely covered the energy costs.

 

[GTP]

What is the value of the grc, compared to the energy consumption?

View attachment 17222

But that's not how that should be valued. Like any other "investment" people count on appreciation for the gain. Few years ago I bought a couple of used S9 Antminers. The cost of electricity was around 2-3 times the value of the bitcoin mined. But that was when BC was in the low 10's of thousands so it's worth much more today. Haven't checked in a while but I'd bet my BC holdings just barely covered the energy costs.

Honestly, GRC might not be worth much right now, but that’s not what truly matters to me. I haven't received my energy bill yet (should be any day now), but even when it comes, it won’t change why I do this.

I'm contributing to research that could one day lead to cures for Cancer, HIV, Malaria, and Alzheimer’s through Rosetta@Home. I'm helping run complex biomolecular simulations for the Barcelona Bio-Medical Institute via GPUGrid@Home. And beyond that, my work supports a range of scientific projects pushing humanity forward.

For me, it’s not about energy costs or financial return - it's about making a real difference. If even a fraction of what I contribute helps advance science, then it's all worth it.

 

[fincoder]

The cost of electricity was around 2-3 times the value of the bitcoin mined. But that was when BC was in the low 10's of thousands so it's worth much more today.

That means you could have simply purchased the bitcoin back then, and the percentage gain would have been even greater.

In other words, it's the hobby aspect of it that appeals.

 

[frase]

@GTP Just curious though do you receive a statistical datasheet of where your resources are going towards?

 

[timeshifter]

That means you could have simply purchased the bitcoin back then, and the percentage gain would have been even greater.

In other words, it's the hobby aspect of it that appeals.

I think if you generate the coins, and it's all on the blockchain, never going through an exchange, then the government can't get their grubby paws on it.

 

[fincoder]

then the government can't get their grubby paws on it

I see.

 

[GTP]

@GTP Just curious though do you receive a statistical datasheet of where your resources are going towards?

Not sure what you mean, but BamStats (BoincStats.com/BAM!) keeps detailed records of what your PC/'s are doing and what resources are being used etc.
Also, your account pages at each of the projects that you must sign up when you attach a project, keep detailed records as well.
Does that help?