Is it possible to have something like the Bitcoin without mining?

[Alanay]

Hey everyone,

I'm still fairly new to Bitcoin and how it works. I was just thinking if there was a way to have a crypto-currency or something similar just on a website, without needing to download a wallet or mine in pools.

I understand the whole point of making the Bitcoin worth anything is because of how much computer power it takes to mine them and how much the electricity costs, I'm just wondering if there's another way of just having a coin on the web, really simple to use without having to exactly mine.

[1715347673]

1715347673

[RodeoX]

Mining does solve several problems with a trust-less currency that are otherwise very difficult. For example it distributes the money in a fair way that provides scalable incentives to run the network. Otherwise who gets the coins first? And why would people run hardware in support of the network? There may be a way I'm not smart enough to see, but mining is important in Satoshi's system of rewards and restraints.

[DannyHamilton]

Hey everyone,

I'm still fairly new to Bitcoin and how it works. I was just thinking if there was a way to have a crypto-currency or something similar just on a website, without needing to download a wallet or mine in pools.

It's been tried.  A centralized crypto-currency doesn't work.  There's too much reliance on a centralized entity that you have to trust and that can be affected by greed and coercion.

I understand the whole point of making the Bitcoin worth anything is because of how much computer power it takes to mine them and how much the electricity costs,

This is not true. Like anything that has value, it is worth something because it has purposes that make it desirable, and it has a limited supply.

I'm just wondering if there's another way of just having a coin on the web, really simple to use without having to exactly mine.

It is possible, but history has demonstrated that unless you can find a benevolent, omniscient, omnipotent, omnipresent entity to run it for you, it won't succeed for very long.

[Alanay]

I still want to give this a shot, it sounds like a fun project. I'm thinking maybe people could complete surveys or watch advertisements to mine coins instead, but I know there's the problem of bots. Also adverts aren't fun, does anyone have any ideas?

[waxwing]

I still want to give this a shot, it sounds like a fun project. I'm thinking maybe people could complete surveys or watch advertisements to mine coins instead, but I know there's the problem of bots. Also adverts aren't fun, does anyone have any ideas?

It's a bit like if someone asked you "have any ideas how I could get hold of some dollars?". The answers are largely the same, if we discount mining, which is indeed very difficult and risky today if attempted at just a hobby level (very good chance of not making money at all, or ending up in the red).

Do not trust websites or companies promising easy ways to riches. Always first consider their incentives. There is little or no protection out there.

[Alanay]

I still want to give this a shot, it sounds like a fun project. I'm thinking maybe people could complete surveys or watch advertisements to mine coins instead, but I know there's the problem of bots. Also adverts aren't fun, does anyone have any ideas?

It's a bit like if someone asked you "have any ideas how I could get hold of some dollars?". The answers are largely the same, if we discount mining, which is indeed very difficult and risky today if attempted at just a hobby level (very good chance of not making money at all, or ending up in the red).

Do not trust websites or companies promising easy ways to riches. Always first consider their incentives. There is little or no protection out there.

After a while I would hope to have my own advertising campaign which is integrated well with the website and not annoying, much like Facebook's advertising system. Then I'd let people put their trust in me, I'm not a greedy person.

[DannyHamilton]

I'd let people put their trust in me, I'm not a greedy person.

And when a government (or criminal) comes knocking at your door?  What happens to all my money then?

[Alanay]

I'd let people put their trust in me, I'm not a greedy person.

And when a government (or criminal) comes knocking at your door?  What happens to all my money then?

Haha, I'd sign some kind of contract with whoever I need to. I don't know much about how the legal stuff works but I'll find out sooner or later.

[DannyHamilton]

I'd let people put their trust in me, I'm not a greedy person.

And when a government (or criminal) comes knocking at your door?  What happens to all my money then?

Haha, I'd sign some kind of contract with whoever I need to. I don't know much about how the legal stuff works but I'll find out sooner or later.

Good luck.

Unfortunately, the only way I can see this working (for you) is if you are running a scam and planning on stealing money from anyone that you can convince to use your system.  I can't see any way for this to work for the people who would use your system.

[E.exchanger]

I'll watch this topic its interesting and i really want to if there is a way possible for it to mine BTC without a miner or a pool lol

[Alanay]

I'll watch this topic its interesting and i really want to if there is a way possible for it to mine BTC without a miner or a pool lol

Haha, awesome.

I think I'm going to allow people to 'mine' the coins by watching advertisements and as the amount of coins in the circulation increases the less coins you'll earn.

I understand everyone likes Bitcoin's anonymity but I may also add the option to create a custom username/URL.

Any suggestions are welcome.

[apsvinet]

First thing to realize about bitcoins: It's a real currency.
Earn it like you would earn you dollars and euros and
what not.

[b!z]

Take a look at the Ripple protocol. There is no mining.

[zackclark70]

POS ( proof of stake ) coins do not need minors to mine them there are ways being worked on so you don't have to deal with downloading big files

[jodybay]

If you don't want to mine or you don't have any knowledge about this then I can suggest that you can use your skills if you have a skills on computers then you can post your offer on services section you can also go to some faucet or go to games and round section because some of other folks there is offering some btc for trying their casino etc..

Good luck with your journey here have fun learn and earn

[Colin Miner]

I may also add the option to create a custom username/URL.

Any suggestions are welcome.

Its been done, see my vanity address for bitcoin, yes, it does work!

1CoLin4dZkecGinkw2YcjioXJ2QUGLKbzm

[Alanay]

I may also add the option to create a custom username/URL.

Any suggestions are welcome.

Its been done, see my vanity address for bitcoin, yes, it does work!

1CoLin4dZkecGinkw2YcjioXJ2QUGLKbzm

Yeah, I know about that.

I mean it would just be a username though, for example you could send "Alanay" 0.5 coins. Instead of using a bunch of random strings, I think it would make the currency look more attractive to the non-technical user.

[Rigon]

I think you are talking about ripple xrp. Try visiting ripple.com or ripple.com/forum.

Yes it is possible for a crypto currency without any mining just make it pure proof of stakes and premine it 100 percent. Means you virtually owns 100 percent of that coin and its your job to distribute it. I think it would not gain trust by many because it is not fair.