Is it fantastic project or not to create a human-mined bitcoin?

[bigars]

I think about idea to create a blockchain where everybody will be able to mine a new bitcoins (or just altcoins of this project), by performing some action witch can be performed only by a human..  For example, some capcha solving etc.  In case smb do this action he will get a coin for it. So the total issuance of the coins is unlimited, but creating a new requires doing work.  So creates some value.
Bigars
Does anybody has some opinion about perspectives of my idea?

[avatar_kiyoshi]

Raiblocks already doing this. I'm not sure it will be fantastic because we know it will be easy to dump, unless the dev have own strategy to make the coin more valuable to be as currency.

[davis196]

I think about idea to create a blockchain where everybody will be able to mine a new bitcoins (or just altcoins of this project), by performing some action witch can be performed only by a human..  For example, some capcha solving etc.  In case smb do this action he will get a coin for it. So the total issuance of the coins is unlimited, but creating a new requires doing work.  So creates some value.
Bigars
Does anybody has some opinion about perspectives of my idea?

I thought that even captcha solving can be done by bots.
Not every work creates value.Can you mention some examples of online work that creates value(other than captcha solving)?Most of the simple online micro-tasks can be automated.
I have an idea about an altcoin with a fixed supply.There are around 1000000 coins in circulation and the supply increases every year with a fixed amount,let`s say 4% per day(and nobody can change this rule).
If the demand for such coin increases more than the supply,the value should rise.

[Kunlejoe0]

I am sure many new comer will find your idea to be interesting

[hatshepsut93]

Bitcoin's mining problem is decentralized - you need to find a hash for a new block with some amount of zeros, and since you have to include the hash of the previous block, this task is self-updating. The problem with alternative systems is that many of them require some central node that gives tasks - for example Raiblocks have centralized servers that acts validates all captchas. Similar thing with Gridcoin - it relies on BOINC servers, so it's not truly decentralized like Bitcoin. So, for human-based mining you need to create a system of tasks inside the network rules. Now, economically, the easier the task (like solving captcha or pressing like) - the lower the price of a coin would be, so you'll need some mechanism that adjust reward/dificulty to the processing power of the network. It's really hard to create such system and it's not even clear if it has any benefits over traditional mining.

[Adam]

You are little late with this "new idea", dude

[bigars]

So, as i see, no such new ideas wasn't implemented since start of topic.
If somebody wants to support me with helpful advices and program-coding you are welcome!

[icanscript]

What can be in this interesting. For thousands of years, people have been working with different algorithms, confirming it with sex, money, gold and a bunch of junk from other "miners".

[Vod]

by performing some action witch can be performed only by a human.

Every year this list gets smaller.

Once true AI is invented, a computer will be able to do anything a human does, only a million times faster.

[Anti-Cen]

Bitcoin's mining problem is decentralized - you need to find a hash for a new block with some amount of zeros, and since you have to include the hash of the previous block, this task is self-updating. The problem with alternative systems is that many of them require some central node that gives tasks - for example Raiblocks have centralized servers that acts validates all captchas. Similar thing with Gridcoin - it relies on BOINC servers, so it's not truly decentralized like Bitcoin. So, for human-based mining you need to create a system of tasks inside the network rules. Now, economically, the easier the task (like solving captcha or pressing like) - the lower the price of a coin would be, so you'll need some mechanism that adjust reward/dificulty to the processing power of the network. It's really hard to create such system and it's not even clear if it has any benefits over traditional mining.

Well number one we manged without mining and burning out CPU's for year  and keeping Intel, AMD rich in the process and we see new
crypto-coins that don't use mining and they can do more than seven transactions a day.

Clearly you must see by now that the "Every man for himself" does not work and centralization is not so black and white because it
leaves you open to silly things like 51% attacks and warming the earth up plus crazy high transactions fees.

Miners use mining pool, they find them on-line using web-sites so is that centralization too ?

[MrCrank]

I think about idea to create a blockchain where everybody will be able to mine a new bitcoins (or just altcoins of this project), by performing some action witch can be performed only by a human..  For example, some capcha solving etc.  In case smb do this action he will get a coin for it. So the total issuance of the coins is unlimited, but creating a new requires doing work.  So creates some value.
Bigars
Does anybody has some opinion about perspectives of my idea?

I think this is not good idea in nowadays..
It's like bitcoin faucet, bots will be grabs coins
don't use capcha for your project.

[buwaytress]

Yeah, whatever it is, if there's a will to game the system, there's a way. And if you make things so complicated in an attempt to outwit bots, you end up outwitting humans. Thinking back to all the frustrating captchas I've come across.

Now I wish I could locate this project I heard about some time ago - very interesting because of an algorithm that calculated time as the effort required to mint new coins, proof-of-time I believe? Since time (at least, our linear version of it) is limited, regardless if it's for one person or 100, it seems the most valuable resource available.

[onnz423]

I think if the action actually produced some sort of benefit for mankind, then this could be a good idea, as it would genuinely be paying people for a worthy contribution. However, nearly all repetitive tasks can be performed by a computer, so it will only be a matter of time until someone produces a script or software that can outperform the humans, and gain an advantage.

For instance, I think if there were a crypto that was provided only to those who volunteer their time at homeless shelters, food banks, environmental cleanup etc, then that would be a worthy goal. It would be unrealistic to implement however, but I do believe a system could be constructed given the right funding and guidance.

[Intellecual Romanticist]

And why would humans do that? Humans are naturally lazy when it comes to repetitive tasks like factory work etc.
If there is something like that, will you do it? How many hours per day can you do it? How long? 3 months? 1 year?
IF you can do it 10 hours a day without getting bored and you think you are doing something great, then I can say you don't have a life.

[baxxx]

It has huge potential but lets see where it goes

[buwaytress]

And why would humans do that? Humans are naturally lazy when it comes to repetitive tasks like factory work etc.
If there is something like that, will you do it? How many hours per day can you do it? How long? 3 months? 1 year?
IF you can do it 10 hours a day without getting bored and you think you are doing something great, then I can say you don't have a life.

With all due respect to workers like the ones you mentioned (factory work, even security): I have incredible amounts of respect for them. I tried that work before and didn't have the constitution for it, but without them...

Re work like captcha solving... You have severely underestimated the human capacity to do mindless, repetitive tasks. People mentioned Raiblocks above, I myself was guilty of manually mining XRB a year ago, when I didn't know better. I must have spent >20 hours? Enough to get over 100 XRB at any rate. I discarded them, sad story.

Faucet users years ago easily got more than 1 BTC after similar hours of work.

Even after the crash, that XRB's worth over $1800 today. This kind of impossible feat by Bitcoin and others make people willing to do that work.

Take into account economic factors (min wage in countries in my region start at $100 - which is 0.009 BTC now) and you begin to understand why there are still people ready and eager to do these... chores.