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jringo

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jringo last won the day on April 20

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About jringo

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  1. The proposed white paper has been approved! Details: https://steemit.com/gridcoin/@jringo/gridcoin-the-computation-power-of-a-blockchain-driving-science-and-data-analysis-proposed-white-paper-approved
  2. @dc7d absolutely! Let me know if you think of anything else that should be clarified.
  3. @dc7d With CBR, interest disappears. It is not reduced. The reduction will the in number of GRC minted as reward for staking blocks. Currently there are ~960 blocks staked per day. This makes 350,400 blocks per year. Currently there are ~6,000,000 GRC minted as reward for staking blocks per year. Currently there are ~10,220,000 GRC minted as reward for research per year. Currently there are ~ 16,220,000 total GRC minted per year. These numbers define a monetary inflation rate. Monetary inflation rate is the percentage number that changes when comparing CBR to %APR. The change in individual reward is more difficult the determine because of the variables involved. The spreadsheet in the proposal provides a very rough outline. The most important part of the proposal for understanding what the options mean is the following: 65/35 By SM = 5,503,076.924784 By RM = 10,220,000 Total = 15,723,076.924784 70/30 By SM = 4,380,000 By RM = 10,220,000 Total = 14,600,000 75/25 By SM = 3,406,666.665888 By RM = 10,220,000 Total = 13,626,666.665888 80/20 By SM = 2,555,000.001168 By RM = 10,220,000 Total = 12,775,000.001168 85/15 By SM = 1,803,529.410528 By RM = 10,220,000 Total = 12,023,529.410528 As you can see, the number of GRC minted for staking decreases as we move from 65/35 to 85/15. This is because there is a technical barrier involved with changing the number of GRC minted for research rewards, so if we want to change the economic ratio of SM/RM, we must change the SM. In other words, the current system has about 35% of the total GRC minted going to stakers, so if we want to increase the percentage of the GRC minted going to researchers, we must decrease the number of GRC minted as reward for staking. You are absolutely right, though. This is a very complicated proposal because of how major the change from %APR to CBR actually is. From a non-technical standpoint, I would encourage people to vote based on principal instead of based on comparing %APR to CBR: What RM/SM split do you think is appropriate for the future of Gridcoin? To whom should the minted GRC be going? And how much?
  4. An Introduction to Manual Reward Claim (MRC) https://steemit.com/gridcoin/@jringo/an-introduction-to-manual-reward-claim-mrc
  5. Update 3 -- The Gridcoin White Paper Proposal https://steemit.com/gridcoin/@jringo/update-3-the-gridcoin-white-paper-proposal
  6. The CBR poll is now live. "Constant Block Reward (CBR) Value Proposal and Poll" You can read the proposal on either reddit or steemit. Personally, I like steemit's formatting better (includes images and allows centering of equations). Reddit Thread Steemit Thread
  7. https://steemit.com/gridcoin/@jringo/update-2-the-gridcoin-white-paper-proposal
  8. We are now on draft v1.0.2 for the proposed Gridcoin White Paper. Don't forget to vote by April 20th! https://steemit.com/gridcoin/@jringo/update-2-the-gridcoin-white-paper-proposal
  9. There is currently no way for pool users to use their magnitude to vote in the official blockchain poll, however @BGB recently opened up internal polling on the pool. These results must be manually considered for the time being. Side note: BGB is awesome. https://www.grcpool.com/polls Another way to factor the pool votes into poll consideration is to subtract the pool magnitude from the total network magnitude as described in the link below. Using this method, we would surpass the 20% requirement. Though ultimately, I agree with @iFoggz about the validity of the original requirement poll. A group of us are working on making an in depth poll definitions and validity parameters proposal on slack if anyone wants to join. It is based off of the second link below. https://steemit.com/gridcoin/@jringo/a-brief-overview-of-vote-weight https://steemit.com/gridcoin/@jringo/let-s-talk-voting-how-can-we-improve-the-polling-process
  10. @Rob Halförd - (Gridcoin) I support the new rule for the 6 month cap. And while I agree with your recent post for the most part, I do think you might be underestimating the amount of work that has been put into the project over the past several months. We are not in a stagnation phase, and the developers that I know are more than willing to work at low reimbursement levels or for free. Nonetheless, I support $60 an hour as reasonable reimbursement for competitive development. I also think that the $60/hr reimbursement poll should be considered valid with the 19% participation, if only because the first phase was considered valid with 15% participation. Additionally, if we consider the number of people from the pool who voted, participation was over 20%. So, what has been going on? We have been patching the code while defining a future path for Gridcoin through outreach, documentation, and process building. We had to: - remove DPoR for security reasons. Now we have a smooth PoS protocol in place. - smooth out superblocks. Now projects are rarely missing from superblocks. - hunt down and fix forking issues. We now have a smoothly running blockchain. - expand and simplify the testnet process. We now have over 50 people helping test new developments. - organize the front-end of the community. We now have a white paper being voted on and a blue paper in development, along with multiple documentation updates in the works. - smooth out the process for whitelisting projects. We now have a greylist process. - secure the network. We now have a CBR proposal nearly ready. In short, we had to backtrack and rebuild the foundational structures so that we can now work on moving forward. Now that we have a relatively smooth product we need to: - build a roadmap. - improve the wallet UX/UI. - improve the gridcoin.us website. - define poll requirements and processes. - initiate marketing campaigns. - define budgets and build a treasury system. - rebuild the codebase; something that has been a discussion since fall 2017. - rebuild and rename the neural net with c++. And much more. We definitely have a lot to do, but we have also done an incredible amount of critical building. We have been doing great things, and with the new $60/hr reimbursement I expect we will do even more with more devs and at an increased pace. So long as we stay focused, I do not think that we are in danger of falling too far behind the rest of the crypto world. We are, and should be, proud of what we have been building.
  11. https://steemit.com/gridcoin/@jringo/update-1-the-gridcoin-white-paper-proposal
  12. I have written a fairly lengthy response to the running poll and I do not really want to take the time to format it for CCT = ). Have a read on steemit: https://steemit.com/gridcoin/@jringo/let-s-talk-money-regarding-the-current-developer-poll
  13. There is a new white paper proposed and up for a vote. There is a thread on reddit, steemit, and CCT. Reddit is the main discussion thread:
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