Project Gridcoin - Generating Value Discussion

I was thrilled that my previous articles generated the discussion that they have, and have led to others contributing with their own ideas.

https://steemit.com/gridcoin/@guk/project-gridcoin-generating-value-v2

This article is a response to continue the discussion:
https://steemit.com/gridcoin/@jringo/the-value-of-a-network
https://steemit.com/gridcoin/@grider123/we-should-think-back-to-where-we-came-from

The Main Point

Just to dispel any confusion about my motives, I completely agree that Gridcoin should remain linked to and as an encouragement to Scientific research. This is its USP (Unique Selling Point) and why I am on board. As far as I am concerned this must not be changed.

The point of value

Boinc Credits

Today all BOINC projects “reward” their participation with credits:
https://boinc.berkeley.edu/wiki/Computation_credit

This is more than enough for most current BOINCers, the credit has no Fiat value but enables comparison and competition on who can complete the most work for a project. Currently this fulfils the current requirements as a ledger of work done free of charge.

Unfortunately once we go beyond current BOINCers and those that would donate their computing power anyway, there needs to be a Fiat reward to get them to do science rather than mine PoW or do nothing.

How should Gridcoin fit into this system.

Gridcoin is an encouragement to use idle computing time to carry out scientific research. For some, philanthropy will be enough to do said research even without Gridcoin, as happens today with the current BOINC community.

However, the vast majority of people will never donate their processing power without a Fiat reward. Just as they do not give said Fiat money to charity today.

So, in the Long Term (<<Please note this, Short to Medium term means improving Security and Stability, followed by gaining uptake with the existing BOINC community) if Gridcoin is going to fulfil its role as encouraging more people to volunteer computing power to science, then it must have Fiat value.

My previous suggestions have been ideas on how this Fiat value could be achieved. In effect it is the means not the goal that I was postulating.

The Power of the Network

I am afraid I must strongly disagree that Gridcoin has a significant value as a network in and of itself. Yes the idea of Gridcoin has a value and attracts people, otherwise we would not be discussing it now, part of this attraction is it being a crytptocurrency. Most of the remaining value is borrowed from BOINC itself or the promise of Fiat gains.

As an open ledger of donated scientific computing power, we have a product without a customer. I would love to see a business case for such as has been stated, we are creating the ledger today but without a customer, any value cannot be realised.

The comparison to Facebook as a network is flawed. Facebook is providing a service of universal social interaction, something that us humans crave. Many people value this social interaction enough to ignore the fact that they are “selling” their personal information to “buy” access to the network.

Gridcoin cannot provide anywhere near the level of social interaction as Facebook and therefore has a negligible “value” as such (we sit in that negligible band ;-P).

Thanks for taking the time to read my ramblings. If you have found this post useful please consider upvoting, resteeming and/or following me.