WCG has NOTHING to do with XRP and NONONONONONONONO for it to get involved with anything to do with any form of monetary reward, I, and I suspect a lot of other, would be away like a shot. We are volunteers on a charitable site any anything to do with cash is likely to attract disreputable sorts....as we have already seen with hackers trying to grab members and transfer them to monetary teams

Although I sometimes don't agree with Scribe, this time I fully agree with him. This is a voluntary site and just in case somebody didn't catch that: this is a voluntary site. I don't even want to think what would happen if any IOU or monetary reward ever gets involved from this site. It has worked fine for almost 10 years and has proven that it's altruistic system gets results.

CJSL

Crunching for a better world...

Just a rehash of the discussion at the other forums:

I started this thread: https://xrptalk.org/topic/2253-wcg-iou-idea/ , asking the community what they think:

"I think it would be a good idea if someone reputable in the WCG community can start distributing an IOU in Ripple ala CFG.

What do you guys think?"

I got in a heated, but friendly discussion with Hurukan and got to a point where both of us have expressed what we had to express, ending with:

Hurukan: "Just convince your friends to donate their computing power for free
It's a good action and if it really comes from the heart they won't care about an useless IOU.

Else attract them with a commodity that stores value... distribute bitcoins, altcoins to participate
It's like you would buy their computing power and they will be happy like with CFG (but that's not the goal of an IOU backed with nothing).

My 2 cents."

lucky331: "ok i get the point. because it could be traded, it could be exploited for profit. driving up the price, hence creating imaginary value. i fear that too.

if ever that happens, then imagine this, it's going to be like bitcoin but with all the computing power put to good use for the benefit of humanity. and the ones earning this IOU could spend them to get even more computing power hence giving more benefit for cancer research, etc...

it's going to be a cycle that's going to benefit us all."

Then I added later:

"now that i think about it even more, how would it be differen't from bitcoin? bitcoin wasn't backed by anything when it started (and it is not backed by anything today). it had no utility whatsoever. it didn't even have a trading exchange, and it consumed a lot of electricity and all that computing power were not even put to good use."

Please feel free to chime in at the discussion at xrptalk: https://xrptalk.org/topic/2253-wcg-iou-idea/

I think it's an idea worth discussing and exploring. I also think that the 'IOU' terminology should be changed, because when you issue an 'IOU' in Ripple it doesn't necessarily mean 'I owe you.'

WCG results are available for free, non-profit.

Maybe this suggestion of paying the contributors should go to the profitable companies that need results from distributed computing, but not to WCG.

Where is the money to pay half the world for their computing power going to come from? Even Ripple Labs would go broke if half the world was on their payroll.