Brand new kind virtual currency - CAPTCHA coin

[iskren_ivanov]

First sorry for my English.
I would like to introduce you my idea for new kind virtual currency.
I like bitcoin, ish, because there is one deficiency - only people who can buy ASIC divice can mine it.
I think that everyone should be able to mine.
Such are supposed to be the world money. So all people will be equal each others.
So, instead computer power, we can use our brains.
The p2p system will produce CAPTCHA images and people have to recognize them and so the will receive coins
(randomly).

A CAPTCHA (an acronym for "Completely Automated Public Turing test to tell Computers and Humans Apart"),
is a type of challenge-response test used in computing to
determine whether or not the user is human.
source wikipedia

So, only people will be able to mine, not computers. Only human brain can recognize charachters from CAPTCHA image (in which chars are blurred,   
inverted ect.)

UPDATED:
The problem - everybody will read CAPTCHA and will win coins and will not work.
One solution - the chance to win coin must be low, otherwise they will find to much coins.
It must be something like jackpot. So people will try their lucky in their free time or
while they traveling in the metro for example. So they will have motivation to read CAPTCHAs.

Finally it's matter of disign. P2P system will control how much coins to produce and the big brains who design bitcoin, could design the new currency.
Everybody have limited time. The personal time is the value of such kind currency.


I would like to share and discuss my idea with this community.

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[zackclark70]

could be interesting

[Hazard]

You do realize that you can pay third world people to solve captchas for you at the price of about $1 per thousand, right?

[iskren_ivanov]

You do realize that you can pay third world people to solve captchas for you at the price of about $1 per thousand, right?

This is not a problem. Why someone will work for someone else, if he can win more if works for yourself? You will not find workers, except you pay more, than is your profit

Bad idea. Next?

No more computer mining my friend, no more easy profit, I'm sorry for you, next

[Hazard]

So instead of using GPUs to mine, you just want to use chinese kids?

That already exists. They're called sweatshops.

[iskren_ivanov]

So instead of using GPUs to mine, you just want to use chinese kids?

That already exists. They're called sweatshops.

First if someone use children to work - this is crime. It is matter of laws.
You do not think enough.
As I said, nobody will find workers for that, because workers will work for yourself, not for someone else.
If you pay to worker $1, he must bring to you $2 (for example). He can't be so naive (even children), he will work for yourself, not for you.

[Hazard]

So instead of using GPUs to mine, you just want to use chinese kids?

That already exists. They're called sweatshops.

First if someone use children to work - this is crime. It is matter of laws.
You do not think enough.
As I said, nobody will find workers for that, because workers will work for yourself, not for someone else.
If you pay to worker $1, he must bring to you $2 (for example). He can't be so naive (even children), he will work for yourself, not for you.

Yeah, laws are great, and they work! Oh wait, they don't.

[iskren_ivanov]

So, nothing new under sun my friend. We can't do nothing about that, it's not in our competence.
But this can't affect the currency, see my last update - human time is limited.

I see many people are scared from this new mining, because they can buy ASIC and do easy profits and don't want things to change. Sorry for you guys. Let Chinese children earn money, not only you, so they will have money to eat, because they can't buy an ASIC divice.

[QuantPlus]

You need to build a CAPTCHA Coin ATM...
That dispenses a bowl of rice to the child slave miners.

[iskren_ivanov]

You need to build a CAPTCHA Coin ATM...
That dispenses a bowl of rice to the child slave miners.

OK, how many children work for you in real mines (in Africa and ect.), where they are mining minerals (copper ect.) for your ASIC divice?
Stop talk about childred slaves, this is not the subject.
Bitcoin now is not different from USD, only rich can mine it. So if you support bitcoin, you support children slaves.
This is why things must change, and may be this is wrong place, all are greedy miners here .

[fattypig]

First sorry for my English.
I would like to introduce you my idea for new kind virtual currency.
I like bitcoin, ish, because there is one deficiency - only people who can buy ASIC divice can mine it.
I think that everyone should be able to mine.
Such are supposed to be the world money. So all people will be equal each others.
So, instead computer power, we can use our brains.
The p2p system will produce CAPTCHA images and people have to recognize them and so the will receive coins
(randomly).

A CAPTCHA (an acronym for "Completely Automated Public Turing test to tell Computers and Humans Apart"),
is a type of challenge-response test used in computing to
determine whether or not the user is human.
source wikipedia

So, only people will be able to mine, not computers. Only human brain can recognize charachters from CAPTCHA image (in which chars are blurred,   
inverted ect.)

UPDATED:
The problem - everybody will read CAPTCHA and will win coins and will not work.
One solution - the chance to win coin must be low, otherwise they will find to much coins.
It must be something like jackpot. So people will try their lucky in their free time or
while they traveling in the metro for example. So they will have motivation to read CAPTCHAs.

Finally it's matter of disign. P2P system will control how much coins to produce and the big brains who design bitcoin, could design the new currency.
Everybody have limited time. The personal time is the value of such kind currency.


I would like to share and discuss my idea with this community.

It won't work, there are many programs that can read captcha even better then humans do.

[unfocus]

They are mad only because they cannot reach Chinese (children) miners! 

But it's well understood that your time spending for mining is less productive than if you work flipping burgers.

[iskren_ivanov]

It won't work, there are many programs that can read captcha even better then humans do.

It depends, computers can't read some CAPTCHA (more of them, which are good protected).

I will make a CAPTCHA image on my photoshop, then you find software that can recognize the charachters.

[QuantPlus]

You need to build a CAPTCHA Coin ATM...
That dispenses a bowl of rice to the child slave miners.

OK, how many children work for you in real mines (in Africa and ect.), where they are mining minerals (copper ect.) for your ASIC divice?
Stop talk about childred slaves, this is not the subject.
Bitcoin now is not different from USD, only rich can mine it. So if you support bitcoin, you support children slaves.
This is why things must change, and may be this is wrong place, all are greedy miners here .

CAPTCHA is an old failed security solution...
Do some research... there are MUCH better ways of requiring some human input.

[Neo8]

It's not a good idea, your coin will be open source, so after it's not difficult to reverse engineer a CAPTCHA.

[iskren_ivanov]

It's not a good idea, your coin will be open source, so after it's not difficult to reverse engineer a CAPTCHA.

Are you developer? It's matter of design. Your computer will not produce the image for you, so you will not able to do any reverse engineering. P2P network will produce the images and will distribute them randomly between peers.

Let's think. Is bitcoin changing the system. I think not exactly. Who can buy ASIC- only the rich. If they want, they can buy the most powerful ASIC or quantum computers (I'm talking about banks, corporation as google, apple, microsoft ...), so they will get the coins. It's a lost cause.

This statement is not fully true anymore:
"Bitcoin is ... nobody owns or controls Bitcoin and everyone can take part. "

[Snail2]

I think this is a really good idea. Certainly people who invested into mining gear will not like it. Shit happens, but who cares ?

[illpoet]

yeah its an ok idea, although i agree that there would be much better ways to require human input. how about a need for speed coin where every x amount of minutes there is a race in a game like need for speed and the winner of said race is reward with one block of coins.  that way you can't use child laborers (or at least if you do they will have fun!)  and you can accurately predict the generation curve.  You could make the tracks more and more difficult as more miners (ie racers) join the game.  

[HabbyGab]

An interesting idea and I would very much like to see this in action.

[Snail2]

yeah its an ok idea, although i agree that there would be much better ways to require human input. how about a need for speed coin where every x amount of minutes there is a race in a game like need for speed and the winner of said race is reward with one block of coins.  that way you can't use child laborers (or at least if you do they will have fun!)  and you can accurately predict the generation curve.  You could make the tracks more and more difficult as more miners (ie racers) join the game.  

Somewhere I've seen some ads about a minecraft server where you can get BTC for building or mining something. Maybe the easiest solution would be an EVE online ISK/BTC or an ISK/some altcoin exchange.