Paid project? Sort of...

[ChertseyAl]

Now is this going to make anyone rich?

One simple question - How much actual spending money have you personally made?

Cheers,

Al.

[CaptainMooseInc]

Chertsey,

I have literally just started. Haven't made any yet. I just got back from Europe on Friday since being there from March 15. I saw BitCoin in the news and was reading up about it and stumbled upon all this stuff. The first thing I thought when I read about the pooling was how it was distributed computing. And there have been for-pay projects before, so I came to the forums to see if there had been any discussion. When I saw there wasn't, I started a thread. I didn't know if anyone in Free-DC would be interested or not, but I know there used to be a LOT of power over here and wasn't sure if there still was. If the interest was high enough, then a pool could be created and kept to Free-DC users as to not spread it out amongst so many. And people would earn what they give to the project.

Right now I'm a part of a pool that I just joined last night. If a Free-DC pool is created, though, I will most definitely swap over the GPU I've got running to contribute to the effort.

And no one but each member has to try and manage all the money. The pool can be programmed to auto-disperse it and a payout automatically sent to the receiving wallet of each member with the threshold of payout minimum set by each individual user. Then it's on the user to choose a currency exchange and cash out the Bitcoins into real cash. It's no different from trading dollars for euros then.

[ChertseyAl]

Haven't made any yet

That's all I needed to know.

There's nothing better than a personal recommendation in ways to make $0.00.

And for that reason, I'm out

Cheers,

Al.

[LAURENU2]

Oh Cool it sounds like a DC Tron game
What does Bok think of this

[Bok]

I'm not really too keen on it. I've heard from a few other people who have looked into it and it doesn't really seem worth it..

Oh and the stats aren't interesting......!

[Bigred]

I spent a good part of today researching this. It seems that the Feds are unhappy that they can't easily trace the transactions but then again it is hard to trace cash transactions. The last time I checked it was still legal to use cash. The Feds are going after people that make illegal transactions and I agree with this. It does not concern Bitcoins though. You can make an illegal transaction in whatever currency you choose.

I've decided that tomorrow I'll fire up one of my ATI cards and see what happens. If I don't make a lot that is OK. Right now I have over 700,000,000 Boinc credits and can't do anything with them. It just isn't as exciting to make another hundred million anymore when at full power I'm making over 2 million a day.

I'll report back about what kind of profit I make so everyone can make thier own decision. My profit margin will be greater than most since I don't have to pay for the electricity though.

[CaptainMooseInc]

@Chertsey:

This is why I came to community about it. I literally have been back less than a week and just setup a client myself last night to see if it would work. But I did want to start a discussion about it. I just thought the concept was interesting and wanted to see what others thought. Hopefully Bigred will have something to report back in a few days time also and then we'll see what's up. If there's no interest then it's fine, but maybe there are a few people who wouldn't mind moving some power over to a pool of their choice and seeing if it's worth it or not.

As for

There's nothing better than a personal recommendation in ways to make $0.00.

...what's the difference between recommending this and recommending some science project that's supposed to develop treatments for (insert disease) and has been crunching for years with little to no results? Or a prime number project whose last found prime is only a few months away from being 4 years ago? It's fine if you don't like the project, but don't attack me for it.

Glad for the excitement laurenu2. Let's see what Bigred has to say in a few days.

-Moose