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 Post subject: It pays to pay
PostPosted: Sat May 17, 2014 8:35 am 
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Well, give it a few months, maybe a year and the top 2 teams will both be teams that financially reward you for your folding. Sucks for healthy folding competition, but will probably be good for the project in general.

Looks like most teams PPD has dropped since curecoin launched, i wonder if people are selling out? Don't worry guys, I won't leave you!

11108 4 LIFE


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 Post subject: Re: It pays to pay
PostPosted: Sat May 17, 2014 9:54 am 
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Location: Sittin' downtown at the railway station, one toke over the line.
Yeah, well, I was sure thinking about it. I was checking them out a few days before anybody said anything about them here.


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 Post subject: Re: It pays to pay
PostPosted: Sat May 17, 2014 10:15 am 
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Can you summarize what they do? Are they like a non-profit bitcoin? Like a reward system for medical research distributed computing?


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 Post subject: Re: It pays to pay
PostPosted: Sat May 17, 2014 11:02 am 
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they pay you to fold, and it works like bitcoins i guess, but idk where the money comes from. Corporate sponsors?


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 Post subject: Re: It pays to pay
PostPosted: Sat May 17, 2014 11:50 am 
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I found this:

https://bitcointalk.org/index.php?topic=330685.0

Will have to read it to understand. Looks like it may destroy folding teams. Kind of like the whole "paid organ donation" debate. Looks like they are tying folding with "mining".


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 Post subject: Re: It pays to pay
PostPosted: Sat May 17, 2014 12:01 pm 
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R3D88 wrote:
they pay you to fold, and it works like bitcoins i guess, but idk where the money comes from. Corporate sponsors?


Money? You get money for a cryptocurrency only when someone puts any value on it. So basically, you get "coins" as rewards for crunching the numbers (securing the blockchain, I think it's called). Now, some time later, someone may start trading the coins mined for real money/goods. It has not inherent value other than what people are willing to pay for it. This is most likely why cryptocoins start with very low values (like $5.10/"coin" (Sept 30, 2011)) but end up with astronomical prices (like $448/BTC [today's rate])

At least that's how I understand it.


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 Post subject: Re: It pays to pay
PostPosted: Sat May 17, 2014 12:57 pm 
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Location: Sittin' downtown at the railway station, one toke over the line.
Some people mine, some people Fold. All of the coins are distributed proportionately, to both miners and Folders. The theory seems to be that the value of the currency is secured by scientific research as opposed to specie or government backing. At any rate, it seems to be a system designed to let people get some mining value out of hardware that can't compete with ASICs or FPGAs in mining. The coins have to be worth something to somebody in order to get actual dollars (or whatnot), like any other cryptocurrency or any method of exchange, really. They say that 'someday' they hope to make it team agnostic, but as of now you have to be one their team to participate.


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