OProject@Home: BOINC Stock Exchange - discussion

[RSS]

Dear fellows! I would like to raise in public the possibility of opening the BOINC Stock Exchange. Because of the desire to launch a public debate on the subject I decided to create a thread on this and several other forums of BOINC teams. BOINC Stock Exchange would act in the same way as regular exchange with one difference that there would be a rotation of BOINC credits instead of money. In that case everyone could sell or buy credits of a chosen project for price set by the rights of the exchange rate. This topic is quite controversial but I’m counting on a productive exchange of views. I’d like to ask you also to take part in the survey. You can cast your vote supporting the idea of BOINC Stock Exchange or against it. The survey can be found at the bottom of the page http://atom.oproject.info/bse/index.php#pull. The concept of BOINC Stock Exchange is a very wide subject and it’s impossible to put it in only one post. However, I hope that the sixteen following questions and answers will bring you closer the idea. These points contain many concepts (sometimes mutually exclusive). You shouldn’t understand them as a one and only coherent vision of the BOINC Stock Exchange – these are rather different examples of problems and possible attempts of resolving them.

More... (http://oproject.info/forum_thread.php?id=165)

[c303a]

Please vote. After reading the 16 qquestions my personal opinion is that this is the absolute dumbest idea since Seti@home went to Boinc. Just me thinking but it would be nice to see what the vote results are.

[Fire$torm]

Why the hell would I wish to "Sell" my BOINC credits...???

[Al]

So,we already spend more than we probably should on hardware and electricity for a number that has no inherent value, aside from bragging rights. Now we should buy that valueless number in hopes that someone else will pay more for that number later. Ok, I'll start, what will you give me for this 6?


We crunch because we enjoy it, no need to turn it into a job.

[Robert7]

Extremely stupid idea! One BTC is enough for us. BOINC is different, we do not crunch for money.

[John P. Myers]

Yeah....

"Oh, hi! Yes i run a somewhat seedy project that, at face value, appears completely professional. We have badges and apps for various platforms. But we never have work. Instead we sit around and dream up stupid shit like a BSE for days on end. And even if not one person outside of this project is on board with the idea, we'll do it anyway. And because we're owned and operated by a bunch of immature asshats, we'll also conveniently allot ourselves 10 trillion credits out of the blue. We will then sell them to you at very high prices, simply because we have them all and you don't. Brilliant, eh?!"

Forever more, the Oproject will be known to me as the lolproject.

[somanyroads]

Since their site recognizes me (I could only vote once, what's that about), how do I get rid of whatever they may have on my machine. :mad:

[c303a]

I think the best thing to do would be to have someone move all these posts over to their site. Don't they remember the uproar when SETI went ove to Boinc and how many crunchers they lost?

[Fire$torm]

Hello team. Well it turns out that Rysiu, the project admin of OProject@Home, came to our forum and created a thread to post a copy of his concept. I have deleted that thread and sent him a PM explaining my reasons for doing so. I also included a link to this thread so he may see our responses. If you are interested in reviewing his idea, it can be found (Here (http://oproject.info/forum_thread.php?id=165&postid=1477)). For those that have not yet commented, please take a moment to do so.

Thank you.

F$

[trigggl]

Random thought...I was getting interested in watching the stderr file of bitcoinutopia (while they were giving work) and I started to wonder why I wasn't doing that for myself. I decided I would join a pool and see if I could earn at least enough of a bitcoin to put in a wallet. Bitcoins are currently actually worth money. Who knows if it will go up or down or eventually become worthless. I do know that there is at least one federal judge in the USA that has ruled that it is currency. Got 2 cards working on it currently. So far my best share is 49.7K.

[Slicker]

It will never work. Bit Coins have an extremely complicated system so that they cannot be counterfeited. BSE credits have 0 security. I'll sell you mine. Then, as a project admin, I'll just run the query "update user set total_credit = total_credit + 1,000,000,000 where id=1" and then I'd have a billion more to sell you. Plus, who would buy them and why? Unlike Bit Coins which get harder and harder to mine, BOINC credits get easier and easier to earn as processors get faster and faster. So whatever value a credit might have now, it would be worth less in the future. That's just the rules of supply and demand. And finally, I'll give Al McAdams a & for his 6 . Anyone want to out bid me? :p

[Bryan]

I like the idea! I'll sell all of mine for a penny a credit but you have to buy them ALL at once :)) If I can make that deal just wait till you see the farm I build with the windfall "D

[DrPop]

. . . I'll give Al McAdams a & for his 6 . Anyone want to out bid me? :p

Al, you better watch it! Bogey's on your SIX! :)) :D

[John P. Myers]

Unlike Bit Coins which get harder and harder to mine, BOINC credits get easier and easier to earn as processors get faster and faster. So whatever value a credit might have now, it would be worth less in the future.

++1

That point right there dooms it from the start. Even if every admin could be trusted not to magically create credits for themselves, there's no hope.

Another thing i saw mentioned that hasn't been thought about are the hours of operation. He said it would operate the same hours wallstreet operates. This is a problem as well because though wallstreet has an opening and closing time, you can still buy stocks, bonds and currency 24/7. There are other stock markets around the world, and all combined, there's always one open somewhere.

Anyway, none of it matters. To sell your credits would be great money, if you do it the first day. To buy credits would be your first move guaranteeing you live out your retirements years in a cardboard box in an alley.

Also, to be in favor of this would ruin every competition from that day forward. You're losing the latest PG race? Just pick up 1,000,000 credits of that project off the BSE, then brag about how awesome you are....that would ruin BOINC for pretty much all of us.