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Holy Snikes!

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drougnor
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2013/12/01 06:00:48 (permalink)
So, if you haven't been paying attention, the Default dragon is about a week away from being slain by [H], but I noticed yesterday that we fell out of contention.
 
Now, I'm not at all sure why as our numbers are as stellar as they've ever been, so I go and look up Default's recent history on KakaoStats and see this:
 

 
We've got a couple of possibilities - One is that a lot of new blood has just dumped into the program and has no idea how to pick a team, another is that someone is deliberiately pumping into Default to keep it at #1.  
 
The first, I hope, is the most likely, which means we should try to come up with a method of spreading the word, get our team name and number out there and see if we can convert.
 
If it IS the second, well, Death to Default just got a lot more difficult for us, and we have to step our game up and try for the double whammy - Knock off Default and retake our rightful throne.
 
Either option requires a LOT of work to expand our base - We've got as solid a core of dedicated folders as always. Our monthly numbers attest to this.  We just need to figure out how to bring the new blood in and keep them with us.
 
Regardless of the end results, I will be cheering [H] on as they knock down Default and return them to the realm of 'mere' mortals.
 
d


#1

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    Punchy
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    Re: Holy Snikes! 2013/12/01 06:42:40 (permalink)
    There is a single user "letsche" in default that is producing nearly 20 million PPD.  This may be related to a recent set of new top producers in WCG that are the result of yet another "virtual currency" mining operation; that one had users running WCG work rather than just crunching on worthless numbers.
     
    Looks like kakao doesn't allow linking...


    #2
    drougnor
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    Re: Holy Snikes! 2013/12/01 06:51:43 (permalink)
    Wait, so someone is trying to create another virtual currency based on monetizing someone else's work? While it is a clever way to get the work done, unless they're kicking back to the program they are monetizing, that's pretty scummy.
     
    Also, Sheesh!  Looking that user up, that definitely accounts for what I'm seeing - A single user brought down the pain!
     

    post edited by drougnor - 2013/12/01 06:56:13


    #3
    Punchy
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    Re: Holy Snikes! 2013/12/01 07:10:19 (permalink)
    The company, Ripple Labs, is unrelated to any of the WCG projects.  Basically rather than run bitcoin mining, which does lots of computations which amount to nothing, people run WCG and get some sort of credit for their work.  It seemed to be some sort of introductory offer so I don't know if it will continue.  I don't see anything wrong with using all that compute power for beneficial work like WCG rather than just wasting the kilowatts on useless number crunching; Ripple doesn't get anything for all the WCG work that's completed.


    #4
    troy8d
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    Re: Holy Snikes! 2013/12/01 07:29:12 (permalink)
    drougnor
    Wait, so someone is trying to create another virtual currency based on monetizing someone else's work? While it is a clever way to get the work done, unless they're kicking back to the program they are monetizing, that's pretty scummy.
     
    Also, Sheesh!  Looking that user up, that definitely accounts for what I'm seeing - A single user brought down the pain!
     


    As long as they stay within the guidelines of the project, how is that scummy?  DC projects are asking for you to donate your resources (computing time and electricity) to them for free.  If someone wants to attempt to make a currency around it, DC projects can be nothing but happy as it provides further incentive for people to donate resources to them. 
     
    Creating a virtual currency around a DC project is like someone deciding they will start accepting folding points as a form of payment for goods/services. The value of the currency is only what others are willing to exchange for it, whether that be a government backed currency (US dollar, British pound, ect) or goods and services. 
     
    Assuming the currency's creator has integrity and hasn't reserved a large pile of the currency for himself, there actually is no profit to be made in creating this currency.  Thus, they get nothing for creating the virtual currency, but the DC project benefits from people completing their work units as a form of mining the currency.  While a kickback to the DC project would be a nice gesture, I find it a bit ridiculous if it were expected that we had to pay to for the privilege of donating our tangible resources to a DC project. 

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    #5
    drougnor
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    Re: Holy Snikes! 2013/12/01 07:59:17 (permalink)
    Having finally found exactly how Ripple is doing their tie in to WCG - https://www.ripplelabs-wcgxrp.com/ I definitely rescind my 'scummy' comment.
     
    These days, based on the chatter I've seen around the BitCoin and other realms, there's dozens of attempts being made to take the work being produced by WCG and Folding and turn them into a money generator that doesn't benefit the project in the least, AKA "How can I make a ton of money on someone else's work without doing much work myself." I've read enough of these attempts to make my 'scummy' reaction knee-jerk, BUT, it's a knee-jerk that makes me hit the pavement and do the research. I want the dirtbags to fail and the cream to rise to the top.
     
    With the Ripple promotion, they are taking their OWN funds and linking them to work as a way to get their currency out into the market AND to give the WCG a boost. A win-win for both sides of the coin, as it were.

    In this case, we can't refer to it as 'mining' as the currency already exists, this is more of a "Hey, we wanna kick out to you for the work you're already doing".  Mining is the creation of the currency wholecloth (BitCoin and LiteCoin are the prime examples of that pattern) where Ripple wants to supplant other currencies with their method (AKA, they appear to be starting with their currency, just waiting for people to buy into it to give it the agreed upon value).  
     
    Anyway, Props to Ripple for promoting WCG and the science in general.


    #6
    bcavnaugh
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    Re: Holy Snikes! 2013/12/01 09:25:51 (permalink)
    Will BitCoin and LiteCoin lead our internet use to allow a pay by use as in Pay-Per-View?
    It seems that this well also lead Folders to leave like _Nite_ is now doing.
    This seems this is also a gateway for the government a way in to stat charging us a pay per use internet access or a new Tax.
    I don't mind getting paid for Folding but then I would rather not have to pay the income taxes on Folding.

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    #7
    cokeman54
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    Re: Holy Snikes! 2013/12/01 10:21:17 (permalink)
    If it sounds too good to be true it usually is http://theweek.com/article/index/242753/want-to-make-money-off-bitcoin-mining-hint-dont-mine . I for one will stick with FAH as it is for medical research. I am not in it for monetary gain but to help find a cure. Bitcoin has been around for awhile but I could not find anyone that made money without donations from others.


     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    #8
    Sightbane
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    Re: Holy Snikes! 2013/12/01 23:15:26 (permalink)
    The only people who make money in bitcoin are the people running the mining groups and taking % cuts, or people who already had large amounts of cash and were able to build large mining rigs and cashed in before the difficulty ramped up beyond the efficiency of operation cost / bitcoin became silly.
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