Freedom

[Kiki112]

Not cancel fiat, but have Crypto merge into the market as it's equal.

and how would we decide which crypto to use?

There would only be one, just Crypto.

Mining as it is now, gives users the choice of hash algorithm; SHA256, scrypt, nFactor. But they are all coded to output different coins. My thinking is to allow different algorithms mining out a single coin.

So, if you only have a few CPU miners available; choose nFactor; if you have a nice setup of GPUs, scrypt; and for current ASICs there is SHA256. There would be a central mining pool, with branch pools of the different algorithms. The central pool would pick up on your requested work type, and serve you with that work load. If you're mining SHA236, you would be paid more than the scrypt miners, and so on.

lol! And how would you force people to use only what you tell them? OMG communists are hilarious...

exactly what I thought, what would happen to different coins, people use them from all over the worlds, you can't force every country to forbid alt coins
there is no possible way in which only one crypto could exist.

[monkeyofrage]

Clearly my voice is being carried over deaf ears because the only thing you people keep talking about is communism and getting rid of alt coins.

Nowhere did I say any of these things; what I'm talking about is a coin with support for multiple hash algorithms. Take the time to read what is being said instead of jumping to conclusions based on the first two words of a sentence.

[AndersAA]

Anders, did you even read anything past "just one"? Clearly not since you keep talking about communism like it belongs in this thread. Besides, wouldn't paying an ASIC miner more than a CPU miner (which has already been explained twice) be the exact opposite of how communism works?

Keep your narrow-minded trolling to yourself less you have something constructive to add; like giving me a reason why merging the available hash algorithms to output a single coin is impossible. Else, go back to making your shit apple wallet for your shit ios.

Lol! I am trolling? I'll ignore your insults for now.

You are correct - paying miners unequally wouldn't be considered communism. The rest isn't far from it though.

Crypto-protocols that aren't merged mining compatible cannot be merge mined.. Simple as that. Look it up.
If some people pay 2$ in electricity costs to mine 1$ and others 10 cents it wouldn't make sense. You need a single protocol. The factoring would quickly turn out of whack too - as we've seen with ASICS the market quickly adapts.

So far you have no way of controlling the value of "Crypto" and no adoption strategy that has a chance - except maybe putting a gun to everyone's head... In that case I believe people prefer bankers, governments and maybe the more obvious choice: Bitcoin and a real free market where the price of things reflect the value of a product and the value of the currency.

[monkeyofrage]

Crypto-protocols that aren't merged mining compatible cannot be merge mined

This is true, however would it not be possible to detect the requested work by the mining software and serve the protocol requested? The coin type is simply a name, but as an afterthought I suppose multiple blockchains would also be needed. Could you merge the blockchains as well?

So far you have no way of controlling the value of "Crypto" and no adoption strategy that has a chance

Putting a gun to everyone's head is definitely off the table; my proposal was to offer the premined crypto to retailers first. My thinking is that retailers and consumers are fearful of the fluctuating price of Bitcoin, too much risk with no benefit to purchasing goods. Retailers could then hold crypto to the same value as the dollar, and consumers would be more apt to own crypto.

Please, read the bullet points. I want to have some solid challenges to overcome; not simply be insulted by a glancing dismissal.

Thank you.

[AndersAA]

Crypto-protocols that aren't merged mining compatible cannot be merge mined

This is true, however would it not be possible to detect the requested work by the mining software and serve the protocol requested? The coin type is simply a name, but as an afterthought I suppose multiple blockchains would also be needed. Could you merge the blockchains as well?

So far you have no way of controlling the value of "Crypto" and no adoption strategy that has a chance

Putting a gun to everyone's head is definitely off the table; my proposal was to offer the premined crypto to retailers first. My thinking is that retailers and consumers are fearful of the fluctuating price of Bitcoin, too much risk with no benefit to purchasing goods. Retailers could then hold crypto to the same value as the dollar, and consumers would be more apt to own crypto.

Please, read the bullet points. I want to have some solid challenges to overcome; not simply be insulted by a glancing dismissal.

Thank you.

Different protocol = different coin. There's no way you wouldn't end up with a lot of different coins which would have a value equal to how hard they are to mine(if anyone would adopt them - I don't see why anyone would, since you'd basically end up being the banker you're trying to avoid).
Unless you want to put down an equal amount of the value of what it takes to keep the US$ stable there's no way... And that way you'd end up with a fiat that also needs government regulation.

You're basically creating a "crypto without the benefits of crypto"

If you want anything to be stable in price you have to pay for it... A lot to avoid speculation.

http://pages.ucsd.edu/~jlbroz/Courses/PS245/handouts/fixed_rates_macro_policy.pdf

[monkeyofrage]

Different protocol = different coin.

You may just be right.. After a bit more research, it shows that I completely missed digital signing, public keys, message digests, basically everything else which is essential to cryptography hashing.

I hate to admit defeat, but at least I've learned more about bitcoin and friends. Will continue reading as encryption and cryptography is highly fascinating, politics aside.

[AndersAA]

Different protocol = different coin.

You may just be right.. After a bit more research, it shows that I completely missed digital signing, public keys, message digests, basically everything else which is essential to cryptography hashing.

I hate to admit defeat, but at least I've learned more about bitcoin and friends. Will continue reading as encryption and cryptography is highly fascinating, politics aside.

Well... Keep thinking outside the box and you might just come up with something eventually. We can only do what we believe we can do

[supernovax]

Define freedom as the absence of coercion, and following this definition to its logical conclusion will lead you to the non-aggression principle and right-wing economics.