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FAH sees cryptocurrency as 3rd party app enhancing community

PostPosted: Thu Jan 17, 2019 4:08 pm
by foldy
January 14, 2019
by Greg Bowman
In light of recent discussions within the Folding@home community concerning our relationship to cryptocurrencies, we would like to take this opportunity to make an official statement. Folding@home does not endorse any cryptocurrencies at this time but we are happy to engage with participants with a wide variety of motivations. Whether you’re interested in curing diseases, advancing our understanding of how the world works, seeing who can build the fastest computer, or earning cryptocurrency. There’s a long history of participants in Folding@home developing third party applications that enhance the community, and we see cryptocurrencies as falling in this category. Our policies will always be dictated by the science that is the foundation of Folding@home, but maintaining a level of consistency that incentivizes everyone to continue participating in the project is a high priority.
https://foldingathome.org/2019/01/14/foldinghome-policy-on-cryptocurrencies/

Re: FAH sees cryptocurrency as 3rd party app enhancing commu

PostPosted: Thu Jan 17, 2019 5:19 pm
by ProDigit
I've read in the past there were some incentives for those folding, so it would at least cover their electric bill.
Does that offer still stand?
At 300W, I could use $30 a month on electricity, not to mention all the hardware cost.

Re: FAH sees cryptocurrency as 3rd party app enhancing commu

PostPosted: Thu Jan 17, 2019 5:33 pm
by foldy

Re: FAH sees cryptocurrency as 3rd party app enhancing commu

PostPosted: Thu Jan 17, 2019 5:40 pm
by ProDigit
Like I thought, you get money for mining, that essentially saps the power out of your system to do the actual folding.

Re: FAH sees cryptocurrency as 3rd party app enhancing commu

PostPosted: Thu Jan 17, 2019 9:53 pm
by foldy
I would call it: you get CureCoin/FoldingCoin for the folding work units done in PPD.

Re: FAH sees cryptocurrency as 3rd party app enhancing commu

PostPosted: Thu Jan 17, 2019 10:47 pm
by SteveWillis
You get rewarded in tokens based on the points you fold. These tokens can be exchanged for bitcoin which in turn can be sold for cash if you wish. Currently the payouts and exchange rates are such that it doesn't quite pay for electricity for most people, as far as I can tell if you fold with less than an nvidia 2080 ti, which is the most efficient. The exchange I use is bittrex.com

Re: FAH sees cryptocurrency as 3rd party app enhancing commu

PostPosted: Fri Jan 18, 2019 1:46 am
by bruce
ProDigit wrote:I've read in the past there were some incentives for those folding, so it would at least cover their electric bill.
Does that offer still stand?


Anybody can say anthing they want to, but AFAIK, that offer was never made by FAH.

FAH was founded on DONATIONS to SCIENTIFIC RESEARCH. and that has always been their policy.

If a cryptocoin site wants to distribute block-chain challenges for proof-of-work -- or if that same site decides to honor FAH points an alternate proof-of-work, that's entirely up to them.

Re: FAH sees cryptocurrency as 3rd party app enhancing commu

PostPosted: Fri Jan 18, 2019 2:23 am
by ProDigit
SteveWillis wrote:You get rewarded in tokens based on the points you fold. These tokens can be exchanged for bitcoin which in turn can be sold for cash if you wish. Currently the payouts and exchange rates are such that it doesn't quite pay for electricity for most people, as far as I can tell if you fold with less than an nvidia 2080 ti, which is the most efficient. The exchange I use is bittrex.com

So what, when you exchange them, you lose points?

Re: FAH sees cryptocurrency as 3rd party app enhancing commu

PostPosted: Fri Jan 18, 2019 2:53 am
by bruce
ProDigit wrote:So what, when you exchange them, you lose points?

No. You DONATE your PPD to FAH and it stays there, whether or not you choose to get involved with the cryptocurrency. It's just a free bonus that MIGHT or MIGHT NOT pay for your electric bill.

Re: FAH sees cryptocurrency as 3rd party app enhancing commu

PostPosted: Fri Jan 18, 2019 5:24 am
by ProDigit
I'm guessing it certainly helps. Even $5 a month helps!
I signed up, hope it will work out for me!

Re: FAH sees cryptocurrency as 3rd party app enhancing commu

PostPosted: Fri Jan 18, 2019 7:32 am
by rwh202
ProDigit wrote:I'm guessing it certainly helps. Even $5 a month helps!
I signed up, hope it will work out for me!

Yep, it's a bit of a 'no brainer'.
Even if it just helps with costs at the moment, there's always hope for another crypto bubble! For a few crazy months I was seeing $12k a month...

Re: FAH sees cryptocurrency as 3rd party app enhancing commu

PostPosted: Fri Jan 18, 2019 10:30 am
by foldy
Be sure to get CureCoin too https://www.reddit.com/r/CureCoin/

This roughly calculates your possible coin reward
https://foldingcoin.net/index.php/resources/profit-calculator

Re: FAH sees cryptocurrency as 3rd party app enhancing commu

PostPosted: Sun Jan 20, 2019 11:20 am
by toTOW
It dosen't change our current policy : we know it exists, but we do not provide support for these things on this forum.