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<center><h1>The Gridcoin Fireside #22</h1></center>

<center><h2>Gridcoin Magnitude Definition and Distribution</h2></center>

<center><h5>Support this podcast by donating or side-staking GRC to 
*Rx93giSUPF41y9YybSy95H59btCNVq8sVo*</h5></center>

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The Gridcoin Fireside is a participatory podcast brought to you by DCUni and the Gridcoin community. It is intended to introduce and explore DLT, cryptocurrency, and crypto-economics from a science oriented perspective.

The audience is welcome to participate through voice-comms or via the discord text chat.

Join us every Thursday at 8:00pm EST on the Gridcoin [discord](https://discord.gg/jf9XX4a) server.

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![](https://cdn.steemitimages.com/DQmUqRcA5mNes35BUb1Ca62MTpwqaUqB3b25YEQpzHS4b44/image.png)

<center><h1>Recorded on October 3rd</h1></center>

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<h2>Gridcoin Magnitude Definition and Distribution</h2>

This week we discuss @ilikechocolate's outline for a new [magnitude definition and distribution mechanism](https://steemit.com/gridcoin/@ilikechocolate/update-to-the-gridcoin-reward-mechanism-proposal).

In this episode we really only introduce the questions that need to be answered in order to move forward:

1. What are the problems with the current magnitude system?
1. How does this idea address those problems?
1. What are the benefits to this idea?
1. What are the problems with this idea?
1. Who would benefit from the implementation of this idea?
1. Who would lose out from the implementation of this idea?
1. Is this idea secure?
1. What are the philosophical implications of this proposal?

We discuss only a few of these questions, but are certain to return to this discussion in the near future to fully address all of them. 

|Time|Subject|
|---|---|
|1:15|**News**<br>[Gridcoin Monthly Report](https://steemit.com/gridcoin/@crypto-swiss/gridcoin-monthly-report-september-2019)<br>_Outdated_ Gridcoin.world Update<br>_Outdated_ Gridcoin White Paper Update|
|5:00|[Gridcoin Marketing and Engagement Initiative](https://steemit.com/gridcoin/@jringo/proposal-and-poll-gridcoin-marketing-and-engagement-initiative)|
|24:45|[Gridcoin Reward Mechanism](https://steemit.com/gridcoin/@ilikechocolate/update-to-the-gridcoin-reward-mechanism-proposal)|
|41:30|System Failure (Discord crashed)|
|42:25|System Reboot - Should we move in this direction?|
|1:00:00|Closing Thoughts|

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<h1>What is Gridcoin?</h1>

Gridcoin is a multi-incentive permissionless blockchain initiated in 2013. It mints and distributes cryptocurrency in relation to the processing power a network participant directs toward data-driven analysis and scientific discovery, as well as through a proof-of-stake reward mechanism. The Gridcoin blockchain monitors processing contributions to the Berkeley Open Infrastructure for Networked Computing (BOINC). BOINC hosts major institutional computing projects such as IBM’s World Community Grid, SETI, and CERN, alongside projects developed by students, enthusiasts, mathematicians, researchers, and citizen scientists. Access to Gridcoin's computation resources is free, while computation contributors are incentivized with cryptocurrency minted by the Gridcoin protocol.

<h1>Want to Learn More?</h1>

Website: https://gridcoin.us
Discord: https://discord.gg/jf9XX4a
Steemit: https://steemit.com/created/gridcoin
White Paper: https://gridcoin.us/assets/img/whitepaper.pdf

-- Github --

Codebase: https://github.com/gridcoin-community/Gridcoin-Research
Community: https://github.com/gridcoin-community