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Author Topic: Distributing hashing power through a token?  (Read 60 times)
Winnal
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February 12, 2018, 10:47:40 PM
 #1

Hey guys,

I came up with an idea of distributing hashing power through a smart contract token platform, where it would create a marketplace for trading hashing power directly through a token system and users that hold the token would be paid cryptocurrency/bitcoin equivalent to the hashing power provided by each token.

I think this idea would be very impactful on the cryptocurrency industry as it would bring simple and easy access to owning your own hashing power and distributing it to anyone around the world that wants to be paid cryptocurrency, and the more that people in general are paid in cryptocurrency the more spending there will be in cryptocurrency as an actual usage of it instead of just investing into it to make a profit off trading the currency itself.

Right now, the majority of access to cryptocurrency for the major population is through buying of already mined currency by giant industrial mining private companies and groups that may offer a temporarily rental through cloud mining, but for the most part pocket the profits for themselves and it doesn't give access to cryptocurrency as an actual payment to the people like you get paid fiat currency working at a job, where you're actually likely to spend that money on everyday products and services, hindering/creating a bottleneck in terms of cryptocurrency adoption.

If you go check out my website: www.mthash.com you can read the whitepaper proposal I have written about this in detail and I also have a pitch deck for my company for anyone to look at: https://docs.google.com/presentation/d/1PvMVMC3ehHkwy2kqyYCZXzeR-zOnHYFJZHvVKJ9VPvA.

There are also a couple of other ICOs popping up that has a similar idea to this, but the key difference is that they call themselves a 'crowdfunded mining operation', rather than a token distributed hashing power platform like I'm trying to create. The problem with being a crowdfunded mining operation is that the tokens don't technically distribute hashing power itself but rather the overall operations mining revenues which means it's just a sharehold of the whole mining operation, whereas making the token actually directly equal hashing power would actually mean you can truly know what each token's value amounts to in hashing power allowing for an actual marketplace with competitive pricing for hashing power and the token price.

I've made a token announcement post of a pre-ICO for my company in ANN format (unfortunately the images don't show up perhaps because I'm a new user) so please check it out and help me get this company started. I am looking not just for contributors in funding/capital but also a dedicated team to develop the platform and website, including a mobile device app where you can access the whole platform and service, not just a wallet: https://bitcointalk.org/index.php?topic=2936155.0.

Thanks for reading.
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February 13, 2018, 05:19:57 AM
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thank you for sharing this helpful article  Smiley
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