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Author Topic: Idea for a bitcoin related project. paid BOINC pools  (Read 1746 times)
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July 01, 2011, 09:19:25 PM

If BOINC can be modified to meter out bitcoins relative to node contributions, then scientific mining pools could develop that are paid for via bitcoins.  The market value of a block of computational power would be established by this, for (almost) any rational, profit seeking node will switch from scientific projects into pool mining if the scientific projects can't offer at least as much.  This would also allow there to be another "killer app" for bitcoin, thus supporting it's value further, while also (perhaps) permitting all those other GPU archs to be able to compete for bitcoins.  I'm not a programmer, so I don't know how feasible this idea is.


"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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July 02, 2011, 03:24:07 AM

Someone was talking about this "being on the way" though whether it was a rumor or not I don't know

(can't find the thread)

but yes, if it is economically feasible for researchers (ie; they could actually offer prices that competed with mining value), I wouldn't see why this wouldn't work.
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July 14, 2011, 09:30:06 PM

Funny, I was looking into this a few years ago when micro-payment ideas were being floated.

Bitcoin lends itself perfectly to this, especially being completely detached from any one region. Micro-payments are very easy to facilitate with BTCs and it should be highly feasible on an economic basis. There might not be much of a payout, perhaps enough to cover electricity costs, but the concept is definitely sound.

If I had the time...
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