bonkers idea

[boelle]

Hi

I wonder if it would be possible to create a coin that

• promotes less use of electricity.... one way could be to limit who can mine the coin like low power devices (just a thought)
• do not have the create something from nothing "issue"
• it might be an illusion but also a coin that promotes more trust and have a more stable exchange rate
  

[boelle]

btw if i posted in the wrong place then let me know

[ZaoXhou]

So you mean proof of stake instead of proof of work?
And an exchange rate can't be controlled unless you have a centralized coin.

[kdn]

There are already asic proof coins. meaning you cannot use large hardware miners to mine the coin, well you can, but it would be no faster than a normal home PC.

You can't control exchange rates through your own coin, the exchanges do that based on supply vs demand.

[boelle]

it was just a "half cooked" idea that pop'ed in my head

and i have been out of the crypto world for a long time so my expressions might sound a bit odd


but if you by proof of stake mean that something has to be input in the system before it can contain anything yes. much like with paper money you have to print them before they are there and that each country only have a limited amount in circulation... again you cant get anything out of free air is what my head is thinking


and then i just hate the idea that cryptos have become power hungry demon's :-D

[boelle]

but it would be no faster than a normal home PC.

a home pc could be a pc with say 6-10 GPU's that eats a shit ton of electricity.... i was more thinking CPU or even less power hungry

[VanDeinsberg12]

Hi

I wonder if it would be possible to create a coin that

• promotes less use of electricity.... one way could be to limit who can mine the coin like low power devices (just a thought)
• do not have the create something from nothing "issue"
• it might be an illusion but also a coin that promotes more trust and have a more stable exchange rate
  

We have hybrid system, POS system. We don't need such coin. It should be a worthless coin.LOL there is no a stable coin, that's just an illusion. How many reserved did you have to back your coin and then make the price of your coin become stable?
Rather than talking about to create such coin i was believing about it's only your speculation.

[paxmao]

Hi

I wonder if it would be possible to create a coin that

• promotes less use of electricity.... one way could be to limit who can mine the coin like low power devices (just a thought)
• do not have the create something from nothing "issue"
• it might be an illusion but also a coin that promotes more trust and have a more stable exchange rate
  

As good as any other place to post. The thing is that there are already projects that are experimenting with combinations that look for all those things. The world does not need another coin please. But I am going to merit you, because you are giving some thought to cryptos, although you don´t look newby at all for your question.

[boelle]

the main reason why i have been out for years is that i dont like the race, i would need to invest in GPU's  all the time just to keep up

and to do that i would have to pawn my soul to the devil and that i'm not ready for just yet

and then it would require a direct connection to a 400kV line, or so i fell


Can you name a few of the coins or projects that would be vise to look at?

[boelle]

anyone else that could point me in the direction of project or coins that match my thoughts?

[joselitobayagbag]

Hi

I wonder if it would be possible to create a coin that

• promotes less use of electricity.... one way could be to limit who can mine the coin like low power devices (just a thought)
• do not have the create something from nothing "issue"
• it might be an illusion but also a coin that promotes more trust and have a more stable exchange rate
  

That is morelikely a centralized currency like XRP that has some limits because it is pre-mined by these bankers,the supply is limited and the developers has the biggest supply of the coin,which means it can easily be manipulated by the founders and developers.Trust?nah i already changed my mind XRP isnt qualified to your qualifications,because trust is built when someone is vulnerable and not taken advantage of.

[pikatju]

If you can mine it on low power devices, wont you just be able to mine more on high power devices? I think you are dreaming about a coin that will never exist. But keep dreaming!

[boelle]

If you can mine it on low power devices, wont you just be able to mine more on high power devices? I think you are dreaming about a coin that will never exist. But keep dreaming!

well i'm not the big programmer but i was thinking of having the miner report back what cpu was used to mine...

but yes it the source for the miner was public it cold be manipulated to report back something low powered even thou it was a high end GPU... and a closed sourced miner would kill it

[boelle]

Hi

I wonder if it would be possible to create a coin that

• promotes less use of electricity.... one way could be to limit who can mine the coin like low power devices (just a thought)
• do not have the create something from nothing "issue"
• it might be an illusion but also a coin that promotes more trust and have a more stable exchange rate
  

That is morelikely a centralized currency like XRP that has some limits because it is pre-mined by these bankers,the supply is limited and the developers has the biggest supply of the coin,which means it can easily be manipulated by the founders and developers.Trust?nah i already changed my mind XRP isnt qualified to your qualifications,because trust is built when someone is vulnerable and not taken advantage of.

yeah... if the people behind the coin sits on the main majority of the supply i would not trust it either....

would it work if the total amount in circulation is documented and that most of it is put on an exchange?

[housebtc]

Idea is good but it all depends on the team behind the coin, I know of burst project that only use hard space for mining and consuming less energy, but the team is active and have a very strong community, this are very priceless thing for a project to have

[boelle]

i know burst coin and i tried it

its like GPU mining, to keep up i had to invest more and more in harddrives to keep up with the race.

[Brothersav]

Hi

I wonder if it would be possible to create a coin that

• promotes less use of electricity.... one way could be to limit who can mine the coin like low power devices (just a thought)
• do not have the create something from nothing "issue"
• it might be an illusion but also a coin that promotes more trust and have a more stable exchange rate
  

You've just described darico.io 
Darico has genesis accounts that auto mine coins over the next 18 years, the something from nothing is not applicable as you're essentially investing in the company and receive their utility token for 18 years.
Darico will even launch their own exchange with fantastic rates. I agree with your proposition however, this mining from electricity needs to be from renewable sources at least.

[mammothine]

You're actually describing Lynx, which runs and mines on Raspberry Pi. It's legit, stable, and secure. Dev just added DGB's Digishield to the codebase.

Here's their ANN: https://bitcointalk.org/index.php?topic=2912479.0

[boelle]

so far i can see it ticks off the checkmark of low use of electricity

but their ANN does not tell how they handle the "something from nothing" dilemma. That i think is one very important one. Creating something from nothing is like printing counterfeit money or writing "rubber checks".

might some back and edit this post as i read more