[nctr]

This consists of two different parts, the first is just mining cryptocurrencies, but for that you need ASICS in order to be competitive.

The second part is based on Gridcoin, a cryptocurrency that rewards BOINC computations in a decentralized way. So you do all kind of BOINC projects like SETI@home, Rosetta@home (folding proteins),... and the newly generated coins by inflation get distributed according to research done by each user. Again, the important part is that there is no central authority giving out the coins, but each client queries the Boinc projects individually to find out how much research each user has done and the clients then come to a consensus about this, which is stored in the blockchain and is then the basis for the reward each client gets when staking the next time.

Suchflex is basically just a platform built on top of the Gridcoin platform for these "earn money by doing research" projects and simple cryptocurrency mining on the other hand.

[Ameo]

If that's the case, their estimated profit is completely bogus. I've been running BOINC pretty much 24/7 on my 2-GPU, 4-core gaming rig for the past 2 months and made about $2.50 so far.

Here's my !stats from the #gridcoin IRC channel:

fediverse> your next staked block will get you: 17 GRC (research owed) <fediverse> per day, average: 5.7 GRC <fediverse> (BTC (per day): 0.00005062 / $ (per day): $0.03 / $ (per 30 days): $0.88 / RAC (estimated): 136287.5 / magnitude (estimated): 28.60)

There's NO way that you're going to make $40/month with a 980 crunching BOINC projects, at least not with gridcoin. Gridcoin is $0.50 - $0.75, depending on where you look, and even the best rigs won't make more than 100 a day at best.

[dharma1]

Some cryptocurrencies (like ETH) can't be mined with ASICs, due to large (2gb and rising) RAM requirements

[nctr]

Yes, but suchflex is only about those that you can either mine with ASICS (PoW) or CPUs and GPUs (in this case Proof of Research with Gridcoin).

Pure PoS cryptocurrencies cannot be mined by suchflex.

[dharma1]

ETH is currently PoW

[nctr]

ah yes, true that.

Then I was wrong, does suchflex also mine ETH then?

[suchflex]

Ok, a less cheeky answer is that we really focus on most efficient monetization of computing resources. We come up with our own investment theses based on available digital currencies and blockchain innovations out there and then we track performance and change things on the fly in real-time to increase profitability and manage risk. However, our platform is a hybrid of blockchain technologies and a more traditional distributed computing marketplace, this way we get the best of both worlds.

[dharma1]

Looking at the site, I don't think they mine anything yet, it looks super early. But ETH would probably be the best candidate in terms of profitability. Maybe a couple of other alt coins.

It's pretty easy to set up ETH mining yourself and pocket all the money, but that's probably not the audience this software is intended for (Windows users with access to "free" electricity).

[suchflex]

We're early, but we're not that early. We have over 4k users and 300-600 daily users.

[suchflex]

Sometimes :)