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Title: Mining real USD Post by: natd on December 08, 2013, 06:33:16 PM I'm interested in knowing if miners would be interested on mining real US dollars, if it was possible, instead of alt currencies. The hypothetical reward would be low per block (they would be real dollars!) but steady. Let's say @ 0.01 USD. Anyone interested on mining Obama's alt currency?
Title: Re: Mining real USD Post by: INSeed on December 08, 2013, 06:37:58 PM If it's not Scrypt / SHA256 stuff but something really innovative then why not.
However your USD will only be worth what people think it's worth, you can't just say my USDCoin := 1 USD Title: Re: Mining real USD Post by: natd on December 08, 2013, 06:48:58 PM If it's not Scrypt / SHA256 stuff but something really innovative then why not. However your USD will only be worth what people think it's worth, you can't just say my USDCoin := 1 USD My hypothetical case is the US government creating an alt currency for the US dollar, and start issuing dollars through the netwofk @ 0.01 USD per block, as it would be less expensive for the government to issue new money this way than printing money on paper. I'm just exercising future possiblities for cryptocurrency uses. Would you be interested on mining at a low reward as a penny per block if you are getting REAL dollars? (no asic allowed). Title: Re: Mining real USD Post by: CoinGeneral on December 08, 2013, 06:49:46 PM It's easy to mine for USD, all you do is mine for any of the coins even BTC, convert it to USD, and bam it's like you're mining for USD
Title: Re: Mining real USD Post by: natd on December 08, 2013, 06:56:36 PM It's easy to mine for USD, all you do is mine for any of the coins even BTC, convert it to USD, and bam it's like you're mining for USD No interest on getting USD directly, then? A decentralized dollar? Title: Re: Mining real USD Post by: natd on December 08, 2013, 07:03:37 PM It depends. How does difficulty factor in? How often is a new block minted? Could I mint them with my crappy laptop GPU? Yes, GPU/CPU only. As LTC. Let's say new blocks every 10 minutes, as it has to be very secure. I don't know about the difficulty, though. What would be fair? Title: Re: Mining real USD Post by: Simran on December 08, 2013, 07:05:37 PM It's easy to mine for USD, all you do is mine for any of the coins even BTC, convert it to USD, and bam it's like you're mining for USD No interest on getting USD directly, then? A decentralized dollar? Not possible, the government wouldn't even think of such a thing. Decentralized dollar? We might as well just think the government doesn't exist, and when their knocking at your door.... ::) ::) ::) ::) ::) ::) Title: Re: Mining real USD Post by: natd on December 08, 2013, 07:16:11 PM It's easy to mine for USD, all you do is mine for any of the coins even BTC, convert it to USD, and bam it's like you're mining for USD No interest on getting USD directly, then? A decentralized dollar? Not possible, the government wouldn't even think of such a thing. Decentralized dollar? We might as well just think the government doesn't exist, and when their knocking at your door.... ::) ::) ::) ::) ::) ::) Forget about that. It's hypothetical. It is possible in this exercise. Let's say the government already created an alt currency and gives you a penny per block every 10 minutes. Would you mine it? What would be a fair difficulty for the networkdollar miners? |