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Re: [ANN][RSC] Research Support Coin (RSC) - mining with purpose
We have reached a MILLENNIUM of contributed computing time!
We would like to thank all our WCG team members for their participation in the RSC project. Thanks to you, our team already contributed to WCG research projects with more than 1000 years of computing time!
We would like to thank all our WCG team members for their participation in the RSC project. Thanks to you, our team already contributed to WCG research projects with more than 1000 years of computing time!
Re: [ANN][RSC] Research Support Coin (RSC) - mining with purpose
As of today, you can participate in the Research Support Coin program even without joining our World Community Grid team! Simply register at our website (www.researchsupportcoin.org) and you'll receive RSCs for your WCG points every day regardless of what your current team is.
This makes Research Support Coin the first BOINC-based-mining coin that doesn't require joining a team!
However, our WCG team members will remain advantaged, since the RSC/WCG ratio will be halved for non-team members.
This makes Research Support Coin the first BOINC-based-mining coin that doesn't require joining a team!
However, our WCG team members will remain advantaged, since the RSC/WCG ratio will be halved for non-team members.
As of today, you can participate in the Research Support Coin program even without joining our World Community Grid team! Simply register at our website (www.researchsupportcoin.org) and you'll receive RSCs for your WCG points every day regardless of what your current team is.
This makes Research Support Coin the first BOINC-based-mining coin that doesn't require joining a team!
However, our WCG team members will remain advantaged, since the RSC/WCG ratio will be halved for non-team members.
This makes Research Support Coin the first BOINC-based-mining coin that doesn't require joining a team!
However, our WCG team members will remain advantaged, since the RSC/WCG ratio will be halved for non-team members.
There is a similar coin on the Ripple network, by the way: http://www.researchsupportcoin.org
Curecoin because it is the only coin that actually represents useful work being done with all the calculations.
Except Research Support Coin, which is also distributed based on CPU power contributed to research projects
Or support some research: Research Support Coin (RSC) 
You can try Research Support Coin (RSC) with a few bucks, it has a great potential.
Re: [ANN][RSC] Research Support Coin (RSC) - mining with purpose
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I cannot see how RSC could ever be valuable.
Ripple Labs have ended their computing for good distribution program because it was progressively debasing XRP.
Research supporters donate their spare CPU to WCG anyway. While everyone would prefer a retribution, this leads to a tragedy-of-commons situation: "they give me something for practically no additional effort, so any positive amount is good enough".
RSC are IOUs backed by nothing. They do not even exist outside Ripple. They are not accepted anywhere. Their only value derives from that research support promise, but then again the 40% premine defeats this purpose. For example, let us say I am a wealthy research supporter. I already save enough taxes from my other donations, so I will instead give money to informally organized scientific computing projects on the internet. I can choose between two options:
- I can buy RSC, effectively donating to other supporters to retribute their WCG computations. They will get only 60% of my money, and many of them would have donated their spare cycles anyway.
- Or I can setup an inexpensive, massive digitalocean botnet to run WCG myself. WCG lets me select which projects I prefer. I will even get some RSC for doing this!
Who would ever prefer the first option over the second? In other words, what stops RSC price from falling to 0?
Ripple Labs have ended their computing for good distribution program because it was progressively debasing XRP.
Research supporters donate their spare CPU to WCG anyway. While everyone would prefer a retribution, this leads to a tragedy-of-commons situation: "they give me something for practically no additional effort, so any positive amount is good enough".
RSC are IOUs backed by nothing. They do not even exist outside Ripple. They are not accepted anywhere. Their only value derives from that research support promise, but then again the 40% premine defeats this purpose. For example, let us say I am a wealthy research supporter. I already save enough taxes from my other donations, so I will instead give money to informally organized scientific computing projects on the internet. I can choose between two options:
- I can buy RSC, effectively donating to other supporters to retribute their WCG computations. They will get only 60% of my money, and many of them would have donated their spare cycles anyway.
- Or I can setup an inexpensive, massive digitalocean botnet to run WCG myself. WCG lets me select which projects I prefer. I will even get some RSC for doing this!
Who would ever prefer the first option over the second? In other words, what stops RSC price from falling to 0?
First of all, sorry for the late reply.
Yes, you can buy a massive digitalocean botnet to run WCG yourself. But it would still be just you and even if you were super-wealthy, your computing power would be limited.
Our records show that we brought quite a few new people to WCG. Also, some of those who switched to RSC from the Ripple giveaway probably wouldn't continue at WCG without RSC, or at least not with such a big computing power. It thus looks like we are succeeding in bringing people to WCG, or at least keeping them there. For us - good enough. And that's what you would support by buying RSCs.
About the premine - most of it will be used to support research as well, just in another way. When some of the premined coins will be used to buy some research equipment, we will display on our website a copy of the official acknowledgement issued by the respective university. However, none of the "premined" coins were released yet, so by buying RSCs you'll only support WCG contributors right now.
Regarding the RSC price: Strictly taken, every new coin has in principle zero value at the beginning. It gains value over time. And so does RSC. The RSC distribution formula is deflatory, what should contribute to increase of its price. Maybe that's why some people are already willing to buy RSCs. And I can assure you that none of the bid offers are ours. We are also working on new features that will bring more value to RSC.
We are currently running a Research Support Coin giveaway, you can get free RSC here:
http://altcoingiveaways.com/index.php/topic,1525.0.html
http://altcoingiveaways.com/index.php/topic,1525.0.html
Re: [ANN][RSC] Research Support Coin (RSC) - mining with purpose
We have started about a month ago and since then, all together we have contributed with more than 100 YEARS! of computing time to research projects within the World Community Grid.
Thank you all for your participation!
Thank you all for your participation!
Re: [Poll] Would you support university research on Bitcoin (with your Bitcoins)?
You can also take a look at Research Support Coin: https://bitcointalk.org/index.php?topic=566608.0
Re: Investing in research support coin (RSC) in Ripple from Cryptsy?
According to the distribution formula:
the current payout is 0.00999 RSC per WCG point, but it looks like it will decrease quite quickly since there are many new participants joining each day. Right now we pay our members about 250,000 RSC daily.
We thus expect the RSC price to increase in the near future.
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For every WCG point earned, each day we will give members of the Research Support Coin team 0.01 RSC multiplied by % of the RSCs still available for distribution.
the current payout is 0.00999 RSC per WCG point, but it looks like it will decrease quite quickly since there are many new participants joining each day. Right now we pay our members about 250,000 RSC daily.
We thus expect the RSC price to increase in the near future.
Re: [ANN][RSC] Research Support Coin (RSC) - mining with purpose
It is just the beginning and there are not many people involved yet, so the RSC price can highly fluctuate now.
However, the RSC payments per WCG point will gradually decrease as stated on our website, so we expect that the price will be increasing in the future.
Early adopters, who receive close to 0.01 RSC per WCG point are thus advantaged
The current RSC/WCG rate is recalculated every day and is displayed at our stats page: www.researchsupportcoin.org/stats/
However, the RSC payments per WCG point will gradually decrease as stated on our website, so we expect that the price will be increasing in the future.
Early adopters, who receive close to 0.01 RSC per WCG point are thus advantaged
The current RSC/WCG rate is recalculated every day and is displayed at our stats page: www.researchsupportcoin.org/stats/
Yes, but my PC's never sit idle. If I weren't mining, I'd be running BOINC, or 10s of VMs. So its not much different, since BOINC would be eating all my cores if mining wasn't.
You can actually earn Research Support Coin by running BOINC: www.researchsupportcoin.org