You astutely describe my design for eliminating commercial mining. But I don't rely on them caring about decentralization.
So what incentive do you have in mind?
My white paper will be published.
Topic: Complete dezentralisation of mining possible ? - page 4. (Read 7298 times)
So what incentive do you have in mind?
My white paper will be published.
You astutely describe my design for eliminating commercial mining. But I don't rely on them caring about decentralization.
So what incentive do you have in mind?
It is possible but be completely pointless since each participantt would be getting a few satoshis which would be worthless unless the price goes up a lot.
Unless they were mining for spending on microtransactions. But Bitcoin's PoW hash is too favorable to ASICs versus CPUs to make this viable as you say only a few satoshis in relative hashrate.
It's not completely pointless at all! If sufficiently many users are willing to run a microminer at a small monetary loss, then it becomes practically impossible to run a commercial mining farm. I think we're quite far away from that scenario, but it's a theoretical possibility. I hope that eventually a hundred million people will care enough about decentralisation, and in that case it might happen.
You astutely describe my design for eliminating commercial mining. But I don't rely on them caring about decentralization.
It's not completely pointless at all! If sufficiently many users are willing to run a microminer at a small monetary loss, then it becomes practically impossible to run a commercial mining farm. I think we're quite far away from that scenario, but it's a theoretical possibility. I hope that eventually a hundred million people will care enough about decentralisation, and in that case it might happen.
Hm I think 10 years from now even a smartphone cpu will calculate 50mh with under 1% cpu usage. So there would be almost no battery drain.
The reward is not intended to earn big amounts of money , but just compansate your energy consumption.
The reward is not intended to earn big amounts of money , but just compansate your energy consumption.
It is possible but be completely pointless since each participantt would be getting a few satoshis which would be worthless unless the price goes up a lot.
Also, unless they can figure out how to make small, low power and low heat chips, it would say through the battery quickly, literally burn a hole in your pocket, and destroy the life of your battery since heat destroys lithium ion batteries.
Also, unless they can figure out how to make small, low power and low heat chips, it would say through the battery quickly, literally burn a hole in your pocket, and destroy the life of your battery since heat destroys lithium ion batteries.
Lets assume bitcoin has 1 billion users in the future... would it be possible to mine on every device connected to the network, but just use a tiny amount of cpu time to save battery on a smartphone for example ??
With every device mining just 50mh and 1 billion users the hashrate would be higher then now.
To avoid big miners the mining revard could be split equally among all network partipiciants.
Is it complete bullshit ? Or is this somehow possible ?
With every device mining just 50mh and 1 billion users the hashrate would be higher then now.
To avoid big miners the mining revard could be split equally among all network partipiciants.
Is it complete bullshit ? Or is this somehow possible ?
Jump to: