Re: OProject@Home: BOINC Stock Exchange - discussion
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
Re: OProject@Home: BOINC Stock Exchange - discussion
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
Re: OProject@Home: BOINC Stock Exchange - discussion
Quote:
Originally Posted by
Slicker
. . . 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
Re: OProject@Home: BOINC Stock Exchange - discussion
Quote:
Originally Posted by
Slicker
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.