So about 7-9 years ago I was a teenager in high school (some of the time..), anyway I found Bitcoin at the time and I believe I even tried mining for a bit back then.. Now seeing Bitcoin today I wish I would have kept at it... But that's in the past, what's currently got me kinda hooked is Gridcoin!
As I'm writing this post 1 GRC currently has a value of about $0.16, so compared to Bitcoin it's practically worthless unfortunately, but I'm finding the real value is in the scientific research you're able to help accomplish. Plus it's way easier to obtain 1+ GRC than BTC! So I guess if the current monetary value doesn't mean much to you, and you just want to get your hands on some cryptocurrency, you should try Gridcoin!
I'm currently throwing together a website, it's not much right now, but if you want to check it out: https://gridcoin.gq
If you have Gridcoin and you'd like to donate to me being a newbie, but trying to do something for Gridcoin! There is an address on my website's About page :) Thank you. Otherwise I wouldn't mind collecting some STEEM!
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Made me think about those days. I was so happy when I sold 12BTC for 12$. Sometimes I think how would it be to have 12BTC now. But that's it. Now I am into Gridcoin. Crunching for humanity.
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Oh wow. I'm not sure how much I ever acquired..
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Cool, keep working on it :)
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Hey, thanks a bunch! :D
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That is not how a comparison like this works... The value of 1 Gridcoin, or 1 Bitcoin, is an arbitrarily sized piece of the coin's market cap. The latter is what matters, and all other coins fall short of matching that market cap at present.
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Oh okay, I don't quite understand the market cap yet.. Could you explain the basics by chance?
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Imagine if Bitcoin decided that its base unit will no longer be a Bitcoin, but a Satoshi (one 100 millionth of a Bitcoin). The more valuable Bitcoin becomes, the more likely that the Satoshi will be the measure people use for value. Just because one Satoshi is worth USD$0.00015 while GRC is worth USD$0.16 doesn't mean that compared to GRC, sats are practically worthless (you just have more of them, each worth less individually).
The market cap is the total value of a coin - if you could sell all coins at current market price. For GRC that is around USD$61 million, while for BTC it is USD$259 billion. BTC has the highest market cap of all coins.
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Thank you much for the explanation :D
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Newbie question here.. This almost $7 displayed as a "pending payout" is this the USD equivalent of STEEM I will receive? I guess I could just wait and see what happens... But I'm curious!
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Depends. What payout did you pick? If you selected the 50/50 option (which you should at the moment), then the split is like this:
Out of your 100% of rewards ($7), 25% goes to curators (voters). This leaves you with 75% of the total ($5.25).
The 50/50 split means you get half of that as SP (locked down STEEM) and half as SBD (Steem dollars). You get:
The total value of this will be 0.4 SP *USD$6.58 + 2.625 SBD * USD$8.56 = USD$25.10
If you picked the 100% power up option for your post, then you get 75% of the post value paid in SBD. In that case, you get 0.75 * 7 = $5.25 worth of SP = 0.8 SP = USD$5.25
As you can gather, SBD is currently stupidly overvalued.
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Well, I did 50/50. So I guess that's good? I'm confused at how it ends up equaling $25...
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SBD is worth a dollar, but currently trading at USD$8.56.
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So does it make sense to buy STEEM with the SBD I'm given, and then power-up with that STEEM? I'm looking at the market currently.. Is it that simple?
I'm still trying to figure out the whole powering-up deal, but so far I think it just means having more leverage on the site. I'm doing this "Free-to-Play" so to speak currently, so I'm just trying to figure out my best move.
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I wrote you a guide
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Thank you so much @dutch!
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