An altcoin that can be mined on a SmartPhone's CPU!!!

[keithersb]

I Had an idea for an Altcoin that can be mined on a SmartPhone's CPU!!! I don't have the money or knowledge to make it my self, but I feel it can encourage teenagers to get involved with Altcoin mining. My hope with this post is that many people who have the skills to make this, will make many different versions of this idea.

An example of this idea is if McDonald's had it's own coin called the Mc-D coin and it was used for discount on food. The teenagers could mine the Mc-Ds as they sleep, then the next day use the Mc-Ds with money and get a discount. I'm thinking that if the coin rises in value, then the Mc-D can perches a full burger.

Please, put your thought about this post below or tweet me at https://twitter.com/AWeeSomeAltcoin.

[suttcoin894]

Wow an altcoin that can be mined on a SmartPhone's CPU! Your idea is very bold, is also very good, if possible, that will be a very interesting thing, hope to be successful.

[hellscabane]

The idea is novel, but a coin like this would be attacked like no tomorrow. A blockchain secured by smartphones would easily be attacked by just a small set of computers.

I think you are trying to implement something that can only be mined by smartphone CPUs; but if something can be mined by one CPU, then it can be mined by any other CPU.

[nextgencoin]

You already can, Boinc for Gridcoin and I think still Ripple. Be prepared for your phone to be too hot to hold and a battery life of 5 minutes....

[dadao888]

what about my battery.

[keithersb]

I just found this interesting article about phone mining malware. http://www.theguardian.com/technology/2014/mar/27/android-bitcoin-dogecoin-mining-malware

[peterlustig]

I think there are Android miners for SHA256 and scrypt already.

[markm]

There is supposedly no longer any need to "secure" p2p distributed ledgers using Proof of Work.

Thus, some non proof of work system of ledger can be used.

Thus, the activities performed on the phone to earn/acquire the coins need not require heavy computation.

The "mining" on the phone would be how the coins are distributed, not how they are secured.

The method of CPU mining described at http://www.devtome.com/doku.php?id=cpu_mining seems to resist botnets quite well and should be able to run quite a few "workers" per phone, so should be quite suitable.

However any game people like to play on their phones could also be used, players who do well at the game being issued more of the coins than players who fail at the game or do not do well at the game.

-MarkM-

[maranello1561]

It will kill your smartphone's CPU but sure go ahead ...

[markm]

It will kill your smartphone's CPU but sure go ahead ...

If your smartphone's CPU is so flimsy that playing a text mode adventure game on it kills it, wow why does anyone ever buy smartphones at all, intensive computations such as encrypted downloads or decoding of video codex must kill millions of them daily...

-MarkM-

[50cent_rapper]

ProofOfStake coin clinet running on my iPhone and generating new coins  - that's the future. 

[WayToGo]

http://tech.firstpost.com/news-analysis/android-app-songs-built-indian-developer-caught-mining-bitcoins-220761.html
Some people are already doing it, though unknowingly.
Battery drainage would be the biggest show stopper I think.

[micryon]

ProofOfStake coin clinet running on my iPhone and generating new coins  - that's the future. 

Tend to agree with this.

The problem with SOC processed PoW is that whatever can be done on the phone, will be able to do on bigger x86 RIGs with Real GPUs at 100x perf... which means that phone PoW , will always have a much smaller hash rate to make it not worth while.

In order for this to b e even feasible, you'd have to find an algo that is ONLY optimized on phones, ARM arch.. which at this time.. just doesn't exist. 

[softron]

Its possible with very low difficulty. U just have to pevent mining with pc

[azguard]

I think there are Android miners for SHA256 and scrypt already.

Yes there are but you can expect to mine lets say 1 DOGE in about 6 months, pretty coll 

Kidding this is still a dream but for that in future is good to think about it.

More good will be mining it with tablet don't you agree?

[markm]

All these "problems" cited all assume that proof of work mining is being done to secure a ledger/blockchain, which is a stupid approach for targetting such a platform in the first place. Have the "mining" be simply a way of distributing a currency instead of trying to have it be a way of securing the ledger and all those problems go away.

You could even have phone users "mine" coins by phoning friends and getting those friends to download the app, for example... A social virus, in effect.

-MarkM-

[sgk]

This is a novel idea. You can develop an algo which is locked to mobile CPUs to prevent larger hardware mining.

Cellphone manufacturers like Samsung, Apple and Nokia will then include a spec in their spec sheets called "mining speed: 160 kh/sec on X-Algo)
People will pre-order newer cellphone models with highest mining speed, which will take months to deliver!

[keithersb]

Some posts contradict other posts here.

[mymenace]

Is mintcoin bringing a mining app to android

https://bitcointalk.org/index.php?topic=450381.12620



and thought of this a short while ago would be great

https://bitcointalk.org/index.php?topic=470392.0

[markm]

Deuterium mining works great from a phone of course, because it is basically just time that does the work, a browser (such as one on a phone) is only required for setting strategic choices such as what kind of mines to build and such.

http://galaxies.mygamesonline.org/deuterium.html

-MarkM-