Mining with 21 BTC Computer

Economy
1

I saw in their Amazon reviews one guy says he made enough to pay for about 10 small bitcoin transactions.
While that can hardly pay back the cost of the device, it’s a neat idea because one can get enough BTC to use Counterparty, for example.

@pooktwo, I think it would be interesting from a Counterparty perspective to point out (in a blog post or maybe one of next updates) that FLDC allows users to earn BTC in a way similar to 21 Bitcoin Computer (fold, earn FLDC, exchange for XCP, BTC or any CP asset).

Actually one could sell FLDC directly for BTC using the DEx, but the only problem is none of the wallets “promote” BTC buy on DEx (and probably for a good reason, since it would confuse users), but it is technically possible and viable for experienced CLI and API users. It has to be said that sellers shouldn’t sell for BTC on the Distributed Exchange unless they know there are BTC Buy-ers for their asset.

I noticed there’s a mobile phone version of Folding@Home now (https://play.google.com/store/apps/details?id=com.sonymobile.androidapp.gridcomputing). Too bad there’s no ARMv7 version that could run on Pi.

2

I havent looked to much into the 21 thing yet, but yes it is a good point that FLDC participants can earn BTC in addition to FLDC, but since we are only doing weekly payouts now, and it still consumes a lot of energy, i dont know if its a good selling point, the profit should come from FLDC or the merged folding assets.

and the mobile version of FAH doesnt allow for usernames yet, basically the WU hops from phone to phone. It works like so:

  • you download the app
  • it only folds when you are plugged in
  • since a phones CPU is no where near the power of a PC, your phone actually doesnt complete that much of a WU in a 8 hour sleeping period, maybe about 5% of a WU
  • the moent you unplug your phone, the WU you had been working on hops to another phone that is currently plugged in for charging
  • then the cycle repeats

this method doesnt allow for a username, so all the WU being complete by phones arre completely anonymous

3

You’re pointing out a real issue here. People who have zero bitcoin but want to use CP; how can they get enough BTC to pay tx fees?

  • Mining is in theory a good way. Even if you spend $1 on electricity for $0.50 of BTC it does not matter. You want just some dust anyway. Problem is that regular CPUs dont even mine dust anymore. I don’t think anyone who wants BTC dust for CP bothers buying an ASIC.
  • Registering at an exchange? For $5 … I don’t think anyone bothers
  • An ATM … yes, if there’s one is your town
  • Buy from friends. Good option if you know in person another Bitcoiner
  • Receive CP assets. Best option. Every time you receive FLDC, LTBCOIN, GEMZ, etc you also receive BTC dust. I think for every 3-4 you receive, you get enough to make one tx.
1 Like
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Folding Coin should blog about this and put notes about the dust sweeping method for Folding Coin users (I think there’s a how-to in the FAQs here).

5

One thing we are working on to is for more projects to distribute their tokens on Our platform via merged folding. We want to open this up for the public to just use the system, because even if it would be a “scam” coin or something of that nature, FLDC participants would still get the BTC dust from them.

We aren’t ready yet but this is a fantastic idea :slight_smile: