Bitcoin Forum

I have a weird idea for blockchain tech A coin that can only be mined by a certain zipcode, CPU mineable only, a hashrate cap per miner, no pools, with an unique ID per individual to ensure only one miner per person. I have no idea if any of this feasible Im not a developer.

If any of this were possible this could give communities with lower income a great entry into blockchain tech. Some kind of coin a whole community could mine, improve, and eventually trade on the international market.

My idea is to have like a south side Chicago coin.

Just how absolutely wrong am I?

I'm not sure, but I think restricting mining via zipcode is impossible. How would you extract the zipcode information of your miners? Some internet service provider's IPs doesn't give specific geographic locations.

Ok. Let's assume all of your stated pre-requisites are feasible. Why do you think people would mine your coin? What's the technology in it? What real world problems does it solve? ??? Nothing. Just a random cryptocurrency/token that has limited mine-ability.

If you require a centralised ID system to consider whether people should be allowed to participate, why bother using blockchain technology at all?
Maybe, but the money has to come from real economic value, so I don't see what advantage it would give to the people in that area.  There would still be inequalities - some people would have more efficient machines than others.
If it was traded on the international market, why would anyone outside of south side Chicago decide to buy it?

Technically and theoretically all that you have visioned is possible. But what will be the value of it in practical life and at the end of the day who will be using this type of coin which is limited and centralized?

I agree, from a technical standpoint it could be done.

Theoretically may be, but not technically. Of course I can be wrong, but I think it could not be done

this coin would be not secured very well, and there was an idea like that with an altcoin, called mineral, they made so that you can only one with one miner per person but in the end it did not work correctly

Theoretically and technically, in this context, is the same thing. If it can be done in theory then it's also technically feasible, what exactly do you mean?

OP this idea is horrible for all the reasons everyone has outlined above, plus all the constraints you're placing are useless/needless.

The dumbest idea I ever thought of was to make a kite, but not using wood, but just use paper only

well all new is the old what we can't remember or how it was said? it is working with phone maybe that will too