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This is a right time to start with Gridcoin wallet because 5.0 release is here. The installation is not super easy but generally works well. Several hours are required to synchronize local copy of blockchain wallet till a last block is in. It is also important to back up files in case there is a need to restore a wallet on another PC.
There are 3 modes of participation, described on gridcoin.us website:
Solo staking that requires 5000 Gridcoins (about 40 USD)
Pool computation without staking
Investor mode with staking and no BOINC work
I have around 500 GRC that i collected via the following channels:
GRC pool computation would have been perfect if I could run it on all my mobiles. Then it would not be complicated and earnings would play no role at all. But I could installed the development version only on 1 mobile phone out of 4. I run standard BOINC without GRC pool on most of my devises. In other words, major challenges of GrcPool are
Standard BOINC version for Android mobile does not allow GrcPool computation.
Only several BOINC project have good performance with GrcPool.
Here is my 3 months performance with GrcPool:
The image below shows earning magnitude that depends on computing projects and pools. First peak was when I computed with 4 CPU old laptop and an Android tab with 8 CPUs and with modified BOINC version. Then this app was freezing and I had to install official version and stop with GrcPool. I also stopped computing on laptop. 3weeks ago I restarted with the same laptop and a mobile phone with 8 CPUs. Mobile phone runs development version of BOINC.
The image below shows GRC earning in the same period. 9 GRC were earned before I stopped and another 9 after I restarted computations.
The most rewarding project with highest magnitude is Latin Squares.
Running GrcPool on a laptop is not different than running BOINC tasks without it. No time has to be invested.
Mobile phone computation is still a challenge.
Right projects with higher magnitude are to be selected. But if we contribute to science anyway - payout is not important.
I will need to test GRCpool on high performing computer for a week or two to see if I can increase earnings to get 5000 coins in reasonable time (month?) to start solo mining. If this is not possible, I will aquire some more coins with an exchange.
Prior post on first month performance with GRC pool is here: