My "Burning" Passion for Gridcoin

After reading Hive account@guk's piece on generating value for Gridcoin (you can find it here), I had a few ideas about how we could increase the value of Gridcoin, while simultaneously increasing the awareness and practicality of the coin.

The general idea is that companies could purchase whitelisting for GRC, which would then be burnt, increasing the value of each individual coin. I know it sounds crazy, but stay with me here.

Note: I'm relatively new to Gridcoin and the Gridcoin Community, so I may be missing out on some information here. Feel free to correct me on anything I got wrong. I'm just trying to help the Gridcoin community and learn in the process.

The Game Plan

Obviously Gridcoin is a currency. A great one at that. A currency that helps humanity make scientific discoveries while being minted. We all know that Gridcoin is a unique cryptocurrency, but if Gridcoin is to grow we'll have to show the crypto community, and the world, that it's not just Bitcoin with a new coat of paint. We need to include more projects into the fold, private projects that is. We need to make Gridcoin not only currency, but the fuel for a Grid computing revolution.I say we add the option for companies to pay for whitelisting per month(or whatever time period) with GRC. Let me break it down.

• A company sends a request to the blockchain to purchase whitelisting.
• The blockchain check to see if the company has enough GRC in it's wallet, and if it does, then puts a poll on the blockchain.
• The Gridcoin community votes to see if the company is trustworthy to purchase whitelisting. (To prevent any malicious schemes)
• If the vote is a yes, then the blockchain takes the GRC from the company's wallet and burns it.

Note: Yes, that's MS paint, and yes I am poor.

With this system we can keep the same whitelisting system, with Nonprofit projects getting voted in alongside the For-profit projects. This way all projects would behave as equals for researchers. Now let me elaborate on why I think burning would be good.

The Burning Question

"Burning" a currency never sounds like a good idea, but hear me out. GRC is an "unlimited" cryptocurrency which could, in theory, inflate indefinitely. Now that may be a tad dramatic, but we do have to deal with inflation, especially if GRC were to become a mainstream cryptocurrency.

I propose that the price of whitelisting should scale to either

• The amount of GRC currently in circulation
  Or
• An amount of an outside currency, whether it be USD or BTC

This way, we would still be burning GRC to counteract the continuous production, but not in massive amounts that could negatively effect the market. So with every new private project added the cost would lower in terms of cost in GRC, but the value of an individual GRC would increase. This means that with every subsequent purchase/burning, the amount of coins burnt would decrease, while the value of GRC would increase until they even out depending on the market.

Conclusion

We could do a lot in one fell swoop

• Increase the awareness and value of Gridcoin
• Counteract the deflationary nature of Gridcoin
• Make Gridcoin not just a valuable currency, but the fuel for distributed grid computing for any trusted private organizations, or companies

Thanks, for reading. Did I have enough "burn" puns? As I said before, I'm new to all of this, but I'm just trying to help out where I can. If I made any mistakes, or I'm wrong about any points on here, let me know. I'm always trying to learn.

Edit: Yes. My Dumbass forgot the "d" in the gridcoin tag, right as I was about to post. I added the gridcoin tag.

Peace