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'Mining' BCH by the scientific research?

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Written by   105
5 months ago

Idea can be like this:

  1. BCH Community starts a pool on BOINC projects computation with Gridcoin

  2. Community Earned GRC are converted and paid out in BCH

Possible disadvantages:

  1. Pool may require some administration

  2. Earnings may not be high although these should include 10 GRC block rewards in addition to the compensation for computing scientific tasks..

Possible advantages:

  1. Promotion of BCH community

  2. Help to scientific research

This option is also possible to do individually, without community and and a pool. There are 2 options available:

  1. Via GRC pool and Boinc on PC or latest Android App 7.16.16 (not yet on Google Play but on BOINC website). GRC pool takes weeks to gain magnitude and earnings on CPU are not high

  2. Via in-browser mining (Brave, Opera, Chrome, others) with Microgrid and daily payouts / interest added with Freegridco.in.

Then GRC can be transfered at no cost and exchanged to BCH on SouthXchange or elsewhere.

Both android app and in-browser mining are technically simple.

However, an advantage of pool can be in earning block rewards and conversion to BCH. As GRC has no convenient wallet with private keys.

Earnings won't be high and these will not be higher vs. GRCpool already available but the point can be if BCH community finds this project interesting and fun to promote BCH.

Links:

Freegridco.in has added an option to withdraw in BTC, DOGE, LTC, DASH but not BCH!

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Written by   105
5 months ago
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Comments

Thanks to you, I got some GRC. However, my wallet account is not synchronized for some reason. So I can't access GRC in my wallet. The money in my account is not visible in the wallet as my wallet is out of sync. Therefore, I cannot make any transactions with the GRC in my wallet. I could not find out why. I tried a little bit, but when I couldn't solve this problem, I quit. I thought maybe the internet firewall in my country might have closed the ports used by GRC. I tried it with Windscribe over vpn. However, my problem with accessing the wallet was still not resolved. There was a block file on the Gridcoin website. I downloaded it. However, my problem was still not solved. I started mining Banano instead of GRC because I already earned very little. Maybe I can convert Banano to BCH in the future.

$ 0.02
5 months ago

I think this is because of wallet upgrade fur to the bug. There is mandatory 5.3.0 upgrade. I hope , if you install, you can access your GRC. Please do back up first and save wallet files. Although you may run upgrade without reinstalling old version. However, you might be on fork, I have no idea how to solve it and this may cause issues with future rewards. Let me know if you can install 5.3.0.

That is why wallet is complex and require some maintenance. Pool and in-browser mining does not require blockchain to run on a PC

$ 0.00
5 months ago

Dude I updated the wallet to 5.3.0. I restored the wallet I backed up. I started a test from Diagnostic. Verify wallet is synced - Failed Verify connections to seeds - Failed Count = 0 Verify connections to network - Failed Count = 0 Overall Result: Failed "Wallet (out of sync) Recwnt transactions (out of sync) It gives the above errors. I turned off the antivirus program in case the computer's firewall blocked it. The problem persists. There is an amount of 4 GRC in the wallet. Maybe the problem can be fixed in the future. I can do nothing but for now.

$ 0.02
5 months ago

Only I can think of - it may require hours to re-sync, maybe you leave it running for a day and this will balance. Otherwise there are reddit and discord channels. Only I do not know what to do if you are on fork.

GRC wallet is too scientific and it took me some time to navigate over bumps. That is why pool is simple. No need to run wallet 24*7 and upgrade.

Hope everything solves.

$ 0.00
5 months ago

@turuncu dear friend, are you on the noise.cash platform

$ 0.00
5 months ago

Yes I'm mostly on noise.cash

$ 0.00
5 months ago