Would you mine a currency that gave everyone equal mining power?

[Frink]

I'm working on a currency that will give users fully decentralized IDs created by allowing them to link to and vouch for each other and analyzing their links to each other. Once you've created your ID, you can use it to mine our currency with mining power equal to every other user with no monetary investment required.. in fact, we pay you to sign up. We additionally use these decentralized IDs to distribute the currency in a manner that should lead to more stable prices for the currency.  What do you think? Would this interest you as a miner?

One of my biggest questions is: is it obvious what I mean by "equal mining power"? Is "equal mining rights" more clear? Any other suggested phrases to describe this?

[h311m4n]

I'm working on a currency that will give users fully decentralized IDs created by allowing them to link to and vouch for each other and analyzing their links to each other. Once you've created your ID, you can use it to mine our currency with mining power equal to every other user with no monetary investment required.. in fact, we pay you to sign up. We additionally use these decentralized IDs to distribute the currency in a manner that should lead to more stable prices for the currency.  What do you think? Would this interest you as a miner?

One of my biggest questions is: is it obvious what I mean by "equal mining power"? Is "equal mining rights" more clear? Any other suggested phrases to describe this?

Not sure what you mean by equal mining power. So a guy with one card would be able to mine as much as a guy with 10 cards? That wouldn't be profitable for the second guy?

[khufuking]

Well, that will not be mining then but it will be more like Airdropping or just a distribution that occurs every set amount of time. If you want it to be more like mining then you can set a virtual mining process that gives everyone an equal hash rate but needs a user to be logged in to get the hash set for him, this is just a suggestion.

[Frink]

Not sure what you mean by equal mining power. So a guy with one card would be able to mine as much as a guy with 10 cards? That wouldn't be profitable for the second guy?

Exactly. In fact, no cards are needed. No POW at all.. but you can mine it as if you had equal hash rate as everyone else mining. You instead use your digital ID as if it were a miner and every block the person with the best digital ID for a given block number wins. Some randomization involved.

So it's like every block either you have the winning hash or not and you can't just try another hash.

Well, that will not be mining then but it will be more like Airdropping or just a distribution that occurs every set amount of time. If you want it to be more like mining then you can set a virtual mining process that gives everyone an equal hash rate but needs a user to be logged in to get the hash set for him, this is just a suggestion.

Not exactly, they still need to process transactions for our blockchain(s) in order to earn rewards. It's mining in the sense that Proof of Stake staking is mining.



Can you think of a better way to easily and quickly express this idea?

[kimtaek]

Well, that will not be mining then but it will be more like Airdropping or just a distribution that occurs every set amount of time. If you want it to be more like mining then you can set a virtual mining process that gives everyone an equal hash rate but needs a user to be logged in to get the hash set for him, this is just a suggestion.

What virtual mining sites that could you recommend in which it mines more profitable? For me it is better to participate in bounty campaign rather than Airdrop which most of it is not profitable.

[h311m4n]

Not sure what you mean by equal mining power. So a guy with one card would be able to mine as much as a guy with 10 cards? That wouldn't be profitable for the second guy?

Exactly. In fact, no cards are needed. No POW at all.. but you can mine it as if you had equal hash rate as everyone else mining. You instead use your digital ID as if it were a miner and every block the person with the best digital ID for a given block number wins. Some randomization involved.

So it's like every block either you have the winning hash or not and you can't just try another hash.

Well, that will not be mining then but it will be more like Airdropping or just a distribution that occurs every set amount of time. If you want it to be more like mining then you can set a virtual mining process that gives everyone an equal hash rate but needs a user to be logged in to get the hash set for him, this is just a suggestion.

Not exactly, they still need to process transactions for our blockchain(s) in order to earn rewards. It's mining in the sense that Proof of Stake staking is mining.



Can you think of a better way to easily and quickly express this idea?

Ok, so it's some sort of virtual mining then? Honestly not a bad idea to generate passive income, I'd get an ID to participate