 |
July 01, 2013, 12:34:47 AM
Last edit: July 01, 2013, 12:47:51 AM by telemaco |
|
Hello,
I was wondering what would happen if Bitcoin-Qt (or other wallet) could help mine itself rewarding users with a small amount of money.
Let's imagine that the protocol is modified so the 51 percent of the mined money on bitcoins would be directly given to the installed wallets (type 2 mining with difficulty B) and not only like now to normal miners (type 1 mining with difficulty A).
Our friend Mike, his cousin and everyone would just love to have a Bitcoin Wallet on their desktop PC even if it provides a small reward. Making a differenciation between type 1 mining (heavy mining) and just normal user (type 2) would allow an easy entry to beginners and easy access to money without the need to buy anything and luring hundreds of millions to the bitcoin world.
Having the two sets of difficulties A and B would also reduce the possibility that type 1 miners go way too far on the mining escalation as they are somewhat linked to the normal same-value-bitcoins-making-Home-PCs. Having a difficulty B for users with normal PCs would make mining through client wallet accessible to everyone in the world. It could even help stabilize somewhat the economy between different areas in the world as the same mining rate can be obtained from a PC in pakistan or in europe and the bitcoin price would be the same for both of them. Having a type A difficulty would still give a 49 % cake reward still available to those wishing to go further on mining to reclaim that piece of the cake through heavy hardware.
The risk of a 51% attack would be reduced to zero and people would install and have money inmediately available to them without extra costs. Just having two PCs would give them the possibility to obtain 2xType B mining. Universities could install it and people at home aswell on their own wallets with a configurable option to set the processor threshold from 0 (default) to something the user feels appropiate.
Many on internet would join to avoid losing the oportunity of having a small money making machine. Those beginners we have already lost on the actual run for ASICs.
Type 1 mining and type 2 mining could even have a different mining algorithm, like LTC(scrypt)/BTC or PPC/BTC.
Bitcoin network would be more resistant in two different ways one against attacks based on brute hashing force and the other against attacks based on numbers or the weakness of a too centralized ASIC economy relying on 5 ASIC farms around the world.
Well just an idea.
Cheers,
|
