After the Bitcoin correction that began midday UTC Dec 17th and took 40% of the BTC value in a mere 5 days, almost the entire altcoin market followed suit and fell firmly into the red. With BTC back on the rise, we are now seeing the strong coins rapidly climb back out of their price dips. Gridcoin has been leading the recovery, overtaking the rates of all coins in the top 20 by market cap except Verge, itself positioned 18th.
It would appear Gridcoin has finally made it to a baseline where even on old hardware all miners can comfortably turn a profit. This is fantastic news for the research sector as now power costs are no longer a concern. This should draw a lot more compute power to the BOINC projects through which GRC is mined.
The Gridcoin network is welcoming increasingly large numbers of research miners on a daily basis, so the competition is only going to increase. Coupled with the GRC rain projects have been generating to support their workforce and the introduction of external pools, I expect significant further rise in the GRC price across 2018. Hold onto those coins.
We are all at the forefront of something miraculous, re-purposing the wasted cryptocurrency compute cycles towards advancing humanity. Together with BOINC, we are going to achieve amazing things.
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Hey @dutch,
my exact thinking over the last days. Some coins did not dip proportionally with Bitcoin, Gridcoin being one of them! Lets hope that even with Bitcoin rising it can keep its price. About time the price catches up to the intrinsic value!
Unfortunately, as a resident in Germany, the price is not quite there to pay for the electricity. For my setup it needs to hit 13 cents, and thats for a rather new standard consumer setup. But I have no doubt that we get there!
And you are right, as soon as you can cover your electricity cost easily with Gridcoin, I expect a massive rise in computational resources. This will be huge!
Let's keep crunching!
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Damn, your power must cost a fortune over there! I did the math for my lab a few months back, and I can cover power costs at a mere 5c. That is probably due to there being tons of hydroelectric plants nearby, so power is very cheap here (especially in summer).
For the moment, we are actually up 14% relative to BTC, so lets see if that lasts!
Can't stop, won't stop. =)
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Well, it sits at around 28cents / kWh. Never stopped me crunching, though! :)
Edit: I am talking about € cents, of course!
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I have to buy electric energy for round 0.30 € per kWh in Hamburg -.-
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In Poland 0,55 Pln per kWh
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This is very expensive. I pay under 4 cents/kWh. Currently have 2 servers R710 and R810. Rising money to upgrade and expand the exuipment.
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That insane power cost of yours may be covered by tomorrow at this rate. =P
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Same here, power is expensive in Western Europe, thankfully I have a little solar array to reduce the costs and a lot of will to keep the Boinc strong 😀.
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I am from Germany as well, and with an with my efficient Odroid setup I am now break even :)
Link to my post in the past
My daily GRC gain has dropped heavily though, because of increasing competition.
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nice post @dutch
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Gridcoin I have to look into this one
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Great info many thanks have retweeted, etc
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I am HODLING my bags as tight as I can 💰💰💰💰💰
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One more thing added to my 2018 agenda: Look into Gridcoin!
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Except you didn't, which is incredibly easy to check. Stop your link spam.
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it's the same for me he comments all accounts with the same message
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Just continue to flag the user and he will be hidden by automatic on steemit.com later. Comments will never disappear, but will be less visible.
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