You ever hear of botnets? a zombie network of compromised computers would mine the majority of the coins leaving your average person getting almost nil.
Here’s a Radical [Not So Novel] Idea (please don’t laugh)
Would you be interested hearing an idea that could take MYR ballistic and worldwide (in the truest sense of the word)? Well, sit back and read on if you answered yes.
This is an idea that could really cause MYR to go 'viral'. Can you imagine people from all over the world automatically mining MYR on startup of their PC? What could possibly get millions of people all over the world (including the underdeveloped world) doing that?
Let’s step back for some background and start out by remembering and taking into account some of my logical anti-ASIC arguments (I haven’t been too bad with my predictions in recent months either) and then move forward going one step further by looking at the opposite end of the spectrum.
Just like at one end of the spectrum we have an ever more concentrated and centralized network in combination with price under serious pressure, at the other end we also have an authentic widely distributed network with a stable and generally rising price, and if hardware specialization leads to the first, then, the opposite, namely, hardware generalization, should logically lead to the second.
Economies of scale are generally a good thing when referring to competitive markets; the only problem exists when those markets become concentrated (centralized) in a few hands, and then economies of scale can work against the common good. We need look no further than the fiat banking system to see what eventually happens.
One of the most important ideas at the heart of the crypto ethic was the idea that decentralization was key for creating a viable 'alternative' storage of wealth that could compete with the traditional fiat system.
Have we by some chance become sidetracked with our obsessions for short term profit? What with, hey, we’ve even got a website dedicated to this extreme distraction. What’s the name? Oh, yeah, here it is, Crypto Pump of course (how could it be named anything else?).
http://cryptopump.com Was this what we all had in mind when starting out with cryptocurrencies?
Decentralization is all about making something as available as possible to as many people as possible. Are we really going in the right direction to accomplish that by favoring specialized and centralized economies of scale? Okay, a large market cap would be great for PR, but how long lived would it be if it’s not built on a real foundation. Selling out to short term specialization and centralization is nothing more than assured short term gain in exchange for long term pain.
So, if centralized specialization leads to ruin, then generalization, or decentralization as it were, should lead to system health and vitality – exactly what is desired for a solid and authentic vehicle for storage of wealth. And just what do I mean by “generalization”? I’m referring to making something as “generally” available as possible, and not just in words, but in real deeds as well. It’s one thing to say that even CPUs can mine, and it’s quite another altogether to say (and make real) that they can do so
competitively (and we all know that the little guy can only be competitive in a “little guy world” where the rules are fair and designed to protect the little guy, and not one where major competitors are swallowing up what little guys are still left).
Have you guessed where I’m going with this?
CPU mining that is just as profitable as GPU mining, and also with ASIC?
Had you guessed?
Yes, CPU on par with ASIC!
If you do that, if you make MYR the cryptocurrency that everyone who owns a computer could competitively mine (seriously now,
everyone), you’d have millions of users all over the world configuring their MYR wallets to launch on system startup!
Okay, there are some details to work out, like having a launch on boot setting in the wallet, and, of course, the automatic mine on launch 'plug and play' coding as well.
The wallet would need pre-configured mining parameters so that the new user could mine with a simple click, either solo, or better yet, with an official MYR worldwide P2P (worldwide really meaning worldwide with scores of active nodes all over the world).
The pre-configured, in wallet, miner would only mine using the CPU, or CPU equivalent that would be limited by a throttling mechanism that either matched the most powerful end-user CPU, or an average of the most common CPUs in active use (meaning that it would be possible to mine with a GPU miner, but never at a hashrate that exceeded the CPU throttling level per address, and never independent or outside of the wallet).
Rewards would look something like this:
Throttled Qubit CPU pre-configured wallet restricted mining = 4000 coins per block
Groestl = 450 coins per block
Skein = 450 coins per block
SHA-256 = 50 coins per block
Scrypt = 50 coins per block
And, with that, you'd put MYR on the world map as the first truly fair cryptocurrency in the world where everyone who owns a computer is looked at funny if their MYR wallet isn’t running 'in the background'.
How’s that for an idea for taking MYR mainstream?
You’re right. This would be even beyond mainstream!
Isn’t that what we really had in mind when getting involved in cryptos?
Now, let all those specialized, short term profitability obsessed, miners tell us why this is a bad idea (and GPU miners as well, for that matter) . . . something which should also tell us a lot.
