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Thread Status: Active Total posts in this thread: 502
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Former Member
Cruncher Joined: May 22, 2018 Post Count: 0 Status: Offline |
You can definitely see the impact of them winding down, daily payout is down significantly.
More important the overall value of Ripple seems to be falling significantly as well. Maybe when this is completely wound down there will be some recovery. Suspect maybe dumping it for what they can get. At it's present value 100,000 WCG daily points isn't worth much more than a penny when translated to USD. |
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Jack007
Master Cruncher CANADA Joined: Feb 25, 2005 Post Count: 1604 Status: Offline Project Badges:
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I sold mine as i went along,
----------------------------------------did ok that way. Now what's trickling in i'm letting build up. it's about 30 or 40 bucks worth, worth a roll of the die to let sit there. ![]() |
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twilyth
Master Cruncher US Joined: Mar 30, 2007 Post Count: 2130 Status: Offline Project Badges:
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I didn't sell any but did give some away. I don't really like giving personal information to organizations I don't know and don't really trust any of the existing "exchanges" to keep that information private. I've accumulated maybe 100k XRP to date - which from my point of view isn't really worth the trouble of selling. Technically I would have to declare them as income, at least I think so, and there's no way I'm going to try to figure that mess out.
----------------------------------------My intention is to treat them like bitcoin 5 years ago - something you need to hang onto for at least a few years before you see any sort of return, if you ever actually do see one. At that point I would probably declare the whole thing a capital gain. I do have doubts about RL's strategy for getting people to adopt Ripple. They don't seem to be doing much to bring in vendors willing to accept XRP's as payment and w/o that I don't see a lot of people adopting their protocol. I hope I'm wrong about that. They have some big announcement of some sort coming at the beginning of May - I guess to try to develop some buzz after the end of Computing for Good. So we'll see. ![]() ![]() |
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USAFA 82
Veteran Cruncher Colorado Springs, Colorado Joined: Jan 20, 2005 Post Count: 1001 Status: Offline Project Badges:
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Looking at the stats at Free-DC, there's still quite a few new crunchers joining Ripple Labs each day, with a handful leaving.
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twilyth
Master Cruncher US Joined: Mar 30, 2007 Post Count: 2130 Status: Offline Project Badges:
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Thanks. That is really extraordinary. I think a lot of people don't realize that the giveaway is ending and it took this long for them to find out about it in the first place. In a way it might end up being a blessing since maybe a lot of them won't bother to uninstall BOINC once they stop getting payouts, especially if they don't notice any change in the performance of their computers.
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Jack007
Master Cruncher CANADA Joined: Feb 25, 2005 Post Count: 1604 Status: Offline Project Badges:
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Your tax question is interesting,
----------------------------------------since I'm taking a year (or half year) off work, I'll see if I can claim what I've converted to USD... Not like I'll pay taxes or much at all this year. ![]() |
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Former Member
Cruncher Joined: May 22, 2018 Post Count: 0 Status: Offline |
The XRP giveaway dropped down to 500,000 today. Looks like we're approaching the end of it quickly.
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twilyth
Master Cruncher US Joined: Mar 30, 2007 Post Count: 2130 Status: Offline Project Badges:
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Thanks timehacker. What's interesting to me is the fact that even though the payout has gone down twice so far this month, the amount I seem to be getting per day has remained relatively constant. So that must mean that the people who came here just to mine XRPs have all left by now - at least all of the heavy hitters.
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Sabrina Tarson
Advanced Cruncher United States Joined: Jun 27, 2012 Post Count: 149 Status: Offline Project Badges:
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I assume that you'll be like me and stick it out until the actual end.
----------------------------------------If this is the case, I think we might actually get a bigger payout since more and more people will be leaving it, and that 500,000 gets split among everyone, more people who leave the more money is given to each remaining person. |
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twilyth
Master Cruncher US Joined: Mar 30, 2007 Post Count: 2130 Status: Offline Project Badges:
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I don't know how long I'll be sticking around WCG. My electricity bill has only been going up so unless I want to continue to pay over $500/month (closer to $800 in the summer) I'm going to look into putting some of the servers on Slicify. I just don't like inviting unknown software onto my home network, even if it is supposedly in its own VM. Plus I'd like Slicify to be out of beta when I do it.
----------------------------------------I'll definitely be leaving the Ripple team though. And I'll probably keep some machines on WCG, just not the servers. I'm thinking of being a peripatetic cruncher - moving from one team to another every few months. edit: btw, I looked at the top 10 people on the Ripple team. By some miracle I seem to be #10. But of the other 9, 4 have already stopped contributing. ![]() ![]() [Edit 1 times, last edit by twilyth at Apr 15, 2014 11:52:52 PM] |
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