Topic: [ANN][RSC] Research Support Coin (RSC) - mining with purpose (Read 20522 times)

You can exchange it at very low exchange rate to XRP on rippletrade and then XRP to BTC on Cryptsy or Poloniex. But it's a better idea not to exchange it now, but to write an email to Poloniex or other good exchanges asking them to add RSC. I did it. Your turn now

Hi i have 1200 RSC in my ripple account...what can i do with them? how do i trade them or whatever?

What about an exchange? Could the RSC devs contact Poloniex, allcoin, cryptsy or any other good exchange? Or we're doomed to rippletrade.com?

hi,

hope will start to go up...

i'm helping WCG and all community, and i will earn money...

hope will start to go up...

by
kikan

Excellent research support coin,i will use my CPU power to earn some coins

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!

if you are interested in a BOINC-cryptocurrency which is actually cryptographically strong, consider Gridcoin (GRC).
Team Gridcoin reached TOP50 in world contribution. Still no mainstream attention. Join in!
New Website is about to launch (http://beta.gridcoin.us/).
Contains all guides to get started!

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.

Wow, RSC team on WCG over 400 years of runtime!

Fundamentals not too strong? -  it's the same as with 95% of the cryptocoins.

And the list (just for the information; I'm not saying that you are wrong :-)
BIDS:
Sum RSC /  Size RSC / Bid Price XRP
17,603.23846 / 17,603.23846 / 0.02004
23,293.23896 / 5,690.00050 / 0.02000
24,333.48525 / 1,040.24629 / 0.01000
36,759.48525 / 12,426.00000 / 0.00917
76,526.4553539,766.970100.00628
126,526.4553550,000.000000.00600
136,526.4553510,000.000000.00500
159,029.1287522,502.673400.00494
195,660.2209936,631.092240.00395
231,789.6189036,129.397910.00335
331,789.61890100,000.000000.00300
367,489.6185535,699.999650.00285
469,011.74972101,522.131170.00250
472,678.416383,666.666660.00210
473,678.416381,000.000000.00200
573,678.41638100,000.000000.00100
1,563,678.41638990,000.000000.00010
1,894,008.41638330,330.000000.00005
2,364,008.41638470,000.000000.00004
4,364,008.416382,000,000.000000.00002
6,364,008.416382,000,000.000000.00001
16,364,008.4163810,000,000.000000.000001

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.

Those are asks not bids! You just showed the opposite: someone is selling.

To be fair, there is also a rather thin bidding-side book: I count a total of 2100 XRP (around $10-15) with most of these at 0.000001 (one millionth) XRP per RSC. Even the average bid, 0.0001 (a tenth mill) XRP per RSC, is ridiculous: electricity costs orders of magnitude more, let alone a DigitalOcean droplet.

Anyway, my comment was about the fundamentals, not the actual book. The OP and a few dumb speculators are bidding these few dollars that we observe, but I still do not see how any rational research supporter would ever buy RSC in any significant amount.

But someone is buying :-)

ASKS
Ask Price XRP / Size RSC / Sum RSC
0.02000 / 3,000.00000 / 3,000.00000
0.03200 /364.48000 / 3,364.48000
0.03330 / 3,350.00000 / 6,714.48000
0.05900760.660007,475.14000
0.05952563.000008,038.14000
0.060001,396.416919,434.55691
0.066661,500.0000010,934.55691
0.073001,000.0000011,934.55691
0.0750010,070.6850022,005.24191
0.0768613,010.0000035,015.24191
0.07692130.0000035,145.24191
0.080003,500.0000038,645.24191
0.0899910.8610038,656.10291
0.099993,736.0000042,392.10291
0.1000011,594.8942653,986.99717
0.105267,125.0000061,111.99717
0.1200017,215.7000078,327.69717
0.12500259.0582178,586.75538
0.130001,100.0000079,686.75538
0.179997,872.3926587,559.14803
0.181815,500.0000093,059.14803
0.18998460.3262393,519.47427
0.196075,100.0000098,619.47427
0.200005,300.00000103,919.47427
0.222224,500.00000108,419.47427
0.23000863.00000109,282.47427
0.249992,260.30000111,542.77427
0.250005,000.00000116,542.77427
0.269973.00000116,545.77427
0.29998519.15000117,064.92427
0.3000010,000.00000127,064.92427
0.400001,400.00000128,464.92427
0.500002,319.26000130,784.18427
0.800006,000.00000136,784.18427
0.990002,000.00000138,784.18427
1.0000010,400.00000149,184.18427
1.15000116.00000149,300.18427

I'd gladly sell. But selling requires someone buying, and I can't see who'd rationally buy.

Mine RSC, sell if for XRP. If you don't like XRP you can sell if for anything (e.g. for LTC).

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?

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!

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/

Looks interesting, definitely something to look out for, I hope you guys get the attention

you deserve

yeah, yeah...