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Title: Crypto with controlled mining Post by: tilko on August 08, 2014, 09:09:19 AM I was thinking about the impact of controlled mining. More precisely, the founder of the currency would control who can mine and who cannot - basically he would define the rules and conditions of mining. I understand the power you possess with that. However, what would be the impact on the democracy of a such cryptocurrency and on the other hand, what is the "price" of such a democracy vs security vs benefit.
Title: Re: Crypto with controlled mining Post by: Nullu on August 08, 2014, 09:12:55 AM I was thinking about the impact of controlled mining. More precisely, the founder of the currency would control who can mine and who cannot - basically he would define the rules and conditions of mining. I understand the power you possess with that. However, what would be the impact on the democracy of a such cryptocurrency and on the other hand, what is the "price" of such a democracy vs security vs benefit. It would no longer be decentralised currency. Anything that affects the coin's parameters that is outside of network control is centralisation. That's also not a democracy. That's a dictatorship. If you could provide some sort of Proof of Vote system within the blockchain, that would work. Title: Re: Crypto with controlled mining Post by: Michael Jackson on August 08, 2014, 11:18:23 AM i think if you mining alt coin as well thats not problem . theproblem
its in new crypto. Title: Re: Crypto with controlled mining Post by: rokkyroad on August 08, 2014, 06:41:10 PM I was thinking about the impact of controlled mining. More precisely, the founder of the currency would control who can mine and who cannot - basically he would define the rules and conditions of mining. I understand the power you possess with that. However, what would be the impact on the democracy of a such cryptocurrency and on the other hand, what is the "price" of such a democracy vs security vs benefit. Heavycoin has a system in place similiar to what you describe. https://bitcointalk.org/index.php?topic=506774.0 |