Idea for a new Alt coin.

[strunberg]

Speculators really blew up Bit coin's price, unfortunately speculation is not a good foundation of what makes a coin valuable.
What if there was a Alt coin where Speculation,or Greed is not the main reason why it's worth so much.
What if there was a Alt coin that produced a product that benefited humanity in General?

My Idea is to somehow take the hashing power of mining pools,and allow organizations to buy it up for applications such as Folding at home.
We need some sort of centralization to rent out hashing power,why not use mining pools?

 Organizations could pay the mining pools to lend their power to their computer systems.
Imagine the hashing power of bitcoin going towards a cure for cancer.

[chriswen]

Except their would be no financial incentive.  And its really hard to prove that they actually did the work.

[ElectricMucus]

Come back in 3 months when the idiots are gone.

[Notanon]

I'd feel more good about mining for a coin based on this principle, rather than just mining to verify transactions alone.

[spndr7]

My Idea is to somehow take the hashing power of mining pools,and allow organizations to buy it up for applications such as Folding at home.
We need some sort of centralization to rent out hashing power,why not use mining pools?

I have similar idea that distributed computing projects of (BOINC) Berkeley Open Infrastructure for Network Computing should gives tokens/coins to volunteers contributing in  by processing block of raw data using their computing resources.These tokens would be traded like alt coins.Whole mechanism is needed to be developed to verify work.

One thing is for sure, proof of work could only be supplied by a scientifically trusted organisation like NASA or CERN.

I will be posting details of my idea at later time.

[superduh]

there are plenty of services you can hire to rent out "computing power"
what does this really have to do with a "currency"
it just sounds like you want to rent hashing power to people or am i wrong

[spndr7]

there are plenty of services you can hire to rent out "computing power"
what does this really have to do with a "currency"
it just sounds like you want to rent hashing power to people or am i wrong

I meant just a token for contribution in public interest which can have value  like devcoin has for developers.