Brand New Gridcoin Resource - in the works!

in #gridcoin7 years ago

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!

Sort:  

Congratulations @jlitew! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

You published your First Post
You made your First Vote
You made your First Comment
You got a First Vote
Award for the number of upvotes received

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!

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.

Oh wow. I'm not sure how much I ever acquired..

Cool, keep working on it :)

Hey, thanks a bunch! :D

1 GRC currently has a value of about $0.16, so compared to Bitcoin it's practically worthless

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.

Oh okay, I don't quite understand the market cap yet.. Could you explain the basics by chance?

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.

Thank you much for the explanation :D

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!

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:

  • 0.5*$5.25 as SBD = 2.625 SBD
  • 0.5*$5.25 worth of SP = $2.625 worth of SP = 0.4 SP at current market rates.

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.

Well, I did 50/50. So I guess that's good? I'm confused at how it ends up equaling $25...

SBD is worth a dollar, but currently trading at USD$8.56.

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.

Congratulations @jlitew, you have decided to take the next big step with your first post! The Steem Network Team wishes you a great time among this awesome community.


Thumbs up for Steem Network´s strategy

The proven road to boost your personal success in this amazing Steem Network

Do you already know that awesome content will get great profits by following these simple steps, that have been worked out by experts?