All this mining is ultimately meaningless

[ThePatient]

Peercoin is energy efficient.

[empoweoqwj]

Ok, so forgive my ignorance here, but am I right in thinking that as a result of Bitcoin and the literally hundreds of alternate currencies springing up daily, we, the human race are using BILLIONS UPON BILLIONS of processing cycles to calculate worthless sums? I say worthless because the hashing is mostly wasted effort, am I right in understanding that?

Surely the logical next step here is to make this ENORMOUS BOTNET calculate something useful? I'm thinking of solving science questions, SETI, fighting cancer, or any other distributed software projects, that kind of thing?

Do any of the alt currencies attempt to tackle this, or are we still a way off actually utilising these CPU/GPU cycles for the good of our species and/the planet.

Look we have unlimited energy so don't worry, just from solar and geo energy we can go forever. The petro cartel will not let it and the parasites who rule play this global warming BS while flying in private jets and living in mentions. So if a billion of computers are burning less then 1% of electricity to give hope of killing the fiat evil central bans then lets burn that electricity! BFree!

I don't think we quite have unlimited energy .... the sun's going to explode (or is it implode) one day for a start

[whtchocla7e]

Mining in its current form is a little bit wasteful. There's no reason why miners couldn't be solving scientific problems or something along those lines to validate transactions. Maybe one day such systems will exist.

[empoweoqwj]

Mining in its current form is a little bit wasteful. There's no reason why miners couldn't be solving scientific problems or something along those lines to validate transactions. Maybe one day such systems will exist.

Does wonders for graphic card sales though

[jubalix]

They aren't useless the secure the network.

If you decide to open a bank so you pay a contractor a lot of money to build a secure vault, and then you install lots of cameras, pay for an alarm system, and hire security guards .... and then the bank never gets robbed (maybe because the security is too tight) was it a waste of resources? 

this^

however to some extent the question you may be hinting at is is there either away to

[1] use that mining for something else as well
See CureCoin, and merged mining for this.

[2] alternate system,
See POS, PeerCoin, Emunie, etc

One question in relation to [1] is do you want you bank, holding your wealth really concentrating on something else as well, perhaps no. So the mining and pos does not have to make any compromises to meet any other objective, say curecoin.

In some scenes this is one of PeerCoins argument, is concentrating on store of wealth.

[bluemeanie1]

Confidence Chains does everything bitcoin does, has a better privacy model, and requires no mining.

Also supports credit, futures, options and other thing yet to be explained.  Clients do not require a huge data structure to run.

[empoweoqwj]

Confidence Chains does everything bitcoin does, has a better privacy model, and requires no mining.

Also supports credit, futures, options and other thing yet to be explained.  Clients do not require a huge data structure to run.

Where can I get some?

[bluemeanie1]

Confidence Chains does everything bitcoin does, has a better privacy model, and requires no mining.

Also supports credit, futures, options and other thing yet to be explained.  Clients do not require a huge data structure to run.

Where can I get some?

a basic prototype is coming out soon.  Also if you want a t-shirt I'll send you one, just PM me.

http://altchain.org

(note: seems the moderators here don't want me over-promoting this site so I have to stay on topic)

[empoweoqwj]

Confidence Chains does everything bitcoin does, has a better privacy model, and requires no mining.

Also supports credit, futures, options and other thing yet to be explained.  Clients do not require a huge data structure to run.

Where can I get some?

a basic prototype is coming out soon.  Also if you want a t-shirt I'll send you one, just PM me.

http://altchain.org

(note: seems the moderators here don't want me over-promoting this site so I have to stay on topic)

yeah you do like to put your URL in your posts probably better in the sig, then the mods won't hassle you!

[bluemeanie1]

Confidence Chains does everything bitcoin does, has a better privacy model, and requires no mining.

Also supports credit, futures, options and other thing yet to be explained.  Clients do not require a huge data structure to run.

Where can I get some?

a basic prototype is coming out soon.  Also if you want a t-shirt I'll send you one, just PM me.

http://altchain.org

(note: seems the moderators here don't want me over-promoting this site so I have to stay on topic)

yeah you do like to put your URL in your posts probably better in the sig, then the mods won't hassle you!

not looking to spam this board but I do occasionally link the site when I think it's relevant.  They haven't hassled me but do give me a handicap, for instance my *number of posts* is permanently set at a given number.

[Anddos]

Thats because miners are making free money,they earn bitcoins for processing transactions
Just like how a checkout worker gets paid from the store,its the same princable

[hilariousandco]

Confidence Chains does everything bitcoin does, has a better privacy model, and requires no mining.

Also supports credit, futures, options and other thing yet to be explained.  Clients do not require a huge data structure to run.

Where can I get some?

a basic prototype is coming out soon.  Also if you want a t-shirt I'll send you one, just PM me.

http://altchain.org

(note: seems the moderators here don't want me over-promoting this site so I have to stay on topic)

yeah you do like to put your URL in your posts probably better in the sig, then the mods won't hassle you!

not looking to spam this board but I do occasionally link the site when I think it's relevant.  They haven't hassled me but do give me a handicap, for instance my *number of posts* is permanently set at a given number.

What really? You sure that's not just your activity? You'll probably get posts deleted or warnings if you're spamming referral links or excessively promoting a site, but in your sig is fine.

[AnonyMint]

... primes that are multiples of the block hash...

Don't make me say it.

Hehe. Yeah. Wouldn't be prime. Obviously I inverted the statement. Don't have time to check to the whitepaper again, but presumably the hash must be a multiple of the prime or some other detail. Any way, my point remains the same.