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World Community Grid Forums
Category: Community
Forum: Chat Room
Thread: Is this a gimmick? |
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Thread Status: Active Total posts in this thread: 25
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twilyth
Master Cruncher US Joined: Mar 30, 2007 Post Count: 2130 Status: Offline Project Badges: 
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I'm all for a fair distribution scheme but I think the idea here is to encourage people to contribute as much as they can to the work we do. Ergo, whatever scheme you want to use has to incentivize people to do more not less. Does that sound reasonable?
----------------------------------------I think the people at Ripple have already taken that into account by basing the distribution on hours of computing time rather than points - at least I think that's how it works given the fact that on the Computing for Good home page they state the number of hours contributed and not BOINC or WCG points. That means that everybody gets an equal piece of the pie regardless of whether they're running some ancient Pentium rig or like me, a bunch of Xeon servers. Personally I think that's about as fair as you can get while still encouraging people to contribute as much time on their machines as possible.   [Edit 1 times, last edit by twilyth at Jan 23, 2014 2:21:07 AM] |
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ryan222h
Senior Cruncher Joined: Sep 4, 2006 Post Count: 425 Status: Offline |
I would suggest putting a cap on XRP's awarded per person/account. This would encourage more people to participate and discourage cloud computing XRP miners. The end result would be XRP's distrubted over a larger number of people. People that contribute more spend a lot more money on their crunching. Eventually the big crunchers do too much crunching, diluting everyone's returns, and making it un-economical for them to crunch so much. So the way they are doing it balances everything out naturally.  |
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yojimbo197
Advanced Cruncher Joined: Jun 30, 2012 Post Count: 83 Status: Offline Project Badges: 
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Ideally yes, encouraging people to contribute as much as they can is great in theory. However, there's a finite XRP payment per day and a finite number of XRP's that will be distributed.
----------------------------------------Also, from what I have read on the forums and the way Ripple Labs own jaesharp explained it, the XRP payout for one day appears to be equal to [(Your WCG points earned in one day)/(Total Ripple Labs team WCG points)]x1,250,000 XRP For reference: https://ripple.com/forum/viewtopic.php?f=18&t=4507 Page 1 contains Jaesharp's explanation  |
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yojimbo197
Advanced Cruncher Joined: Jun 30, 2012 Post Count: 83 Status: Offline Project Badges:
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I would suggest putting a cap on XRP's awarded per person/account. This would encourage more people to participate and discourage cloud computing XRP miners. The end result would be XRP's distrubted over a larger number of people. People that contribute more spend a lot more money on their crunching. Eventually the big crunchers do too much crunching, diluting everyone's returns, and making it un-economical for them to crunch so much. So the way they are doing it balances everything out naturally. I've read this theory before but I haven't seen it happen yet. I believe what we are seeing is more in line with the Concorde fallacy. |
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ryan222h
Senior Cruncher Joined: Sep 4, 2006 Post Count: 425 Status: Offline |
I've read this theory before but I haven't seen it happen yet. How not? The teams points have stabilized at 400-500M per day. If the XRP value goes up (or they issue more XRP for the Giveaway) expect that number to go up. Reverse if it goes down. [Edit 1 times, last edit by ryan222h at Jan 23, 2014 4:50:02 AM] |
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twilyth
Master Cruncher US Joined: Mar 30, 2007 Post Count: 2130 Status: Offline Project Badges:
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yojimbo: I think you've misunderstood what sunk costs are in that fallacy. The whole idea of incentivizing people is the basis of capitalism - or are you of the opinion that capitalism doesn't work either?
----------------------------------------Anyway, thanks for the info about how the XRP distribution works. I've never been interested enough in the process myself to look into it. |
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yojimbo197
Advanced Cruncher Joined: Jun 30, 2012 Post Count: 83 Status: Offline Project Badges:
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No I"m not saying capitalism doesn't work. However, you and ryan are ascribing rational behaviours to people who may not be thinking rationally. So far I"ve only seen a drop from the highs of around 550 million down to the mid to upper 400's even as the relative value of XRP's has gone down to 1/53 of a USD.
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twilyth
Master Cruncher US Joined: Mar 30, 2007 Post Count: 2130 Status: Offline Project Badges:
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What you're in fact seeing is a lack of any sort of effort to retain the new people who come here - which is why I'm making such a fuss about getting new forum software.
----------------------------------------For those of us that have been here a while, it's all old news. But for new people coming in, if they have the slightest problem they'll ditch WCG and BOINC unless we do EVERYTHING that we can to help them. What is second nature for us can be quite daunting for a newbie and we're not doing jack to help them and keep them interested. |
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Former Member
Cruncher Joined: May 22, 2018 Post Count: 0 Status: Offline |
I would suggest putting a cap on XRP's awarded per person/account. This would encourage more people to participate and discourage cloud computing XRP miners. The end result would be XRP's distrubted over a larger number of people. Sounds like a fine idea, but impossible to enforce in practice. What's to stop someone from setting up a separate WCG account and Ripple wallet for every EC2 instance they spin up? |
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yojimbo197
Advanced Cruncher Joined: Jun 30, 2012 Post Count: 83 Status: Offline Project Badges:
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I would suggest putting a cap on XRP's awarded per person/account. This would encourage more people to participate and discourage cloud computing XRP miners. The end result would be XRP's distrubted over a larger number of people. Sounds like a fine idea, but impossible to enforce in practice. What's to stop someone from setting up a separate WCG account and Ripple wallet for every EC2 instance they spin up? log the IP address of the e-mail used to sign up for the Ripple Wallet. |
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