Nullius - this is actually a stimulating discussion on asset destruction vs asset preservation.
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So please, move along and let us talk about improving crypto and the world
Topic: ☃☃☃ New Crypto Idea! ☃☃☃ - page 2. (Read 240 times)
One thing I personally don't like about Crypto is how wasteful it is when it comes to resources like electricity and man hours.
Mining costs play a large roll in the end value of Crypto. The more resources destroyed in mining, the more digital currency that is created
I think this is very backward. Instead of destroying resources to make a new currency we should be protecting resources and awarding those who help to save the planet. What if there was a Crypto that wasn't backed by asset destruction?
We could essentially incentivize people to do good things by awarding them crypto. Instead of going to a "job" you can decide how to spend your time. Anything that could be considered not environmentally friendly could be a debit. And everything that is beneficial to the planet/saving the world could be a credit. People could have freedom to live their life more to the fullest and technology could gradually replace most "jobs".
Basically what I am trying to say:
What if there was a way to create crypto based on saving resources rather than based on destroying resources
That isn't backward thats how this world has always worked. Ever heard that energy can neither be created nor be destroyed. So benefits or say energy in form of electricity has to be wasted to create a new energy called this digital currency. Ever thought how much paper and cotton does fiat currency wastes? or how much electricity or man hours do banks take to work? You can't create something out of anything except its magic. Mining costs play a large roll in the end value of Crypto. The more resources destroyed in mining, the more digital currency that is created
I think this is very backward. Instead of destroying resources to make a new currency we should be protecting resources and awarding those who help to save the planet. What if there was a Crypto that wasn't backed by asset destruction?
We could essentially incentivize people to do good things by awarding them crypto. Instead of going to a "job" you can decide how to spend your time. Anything that could be considered not environmentally friendly could be a debit. And everything that is beneficial to the planet/saving the world could be a credit. People could have freedom to live their life more to the fullest and technology could gradually replace most "jobs".
Basically what I am trying to say:
What if there was a way to create crypto based on saving resources rather than based on destroying resources
Folks, please read this before you buy into this junk, or even bother arguing about it. ShortCoins is a spammer on a prolific FUD binge.
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I don't mean to come across as negative towards your idea
Don't worry I didn't take it that way. Your questions are very good and friendly.
I'm not sure how the coins could be created or if it could fit into the block chain. I think you could use AI or something similar to the block chain, where it is decentralized and people are incentivized to 'mine for the currency'. I'm trying to think of how to make this currency, which would somehow encourage world preservation, rather than world destruction.
Step 1. Decide if we have enough resources for everyone in the world
Step 2. Figure out how to allocate those resources
Step 3. Use money as a means to share the resources, rather than destroy them
I'm worried the answer to Step 1 is we don't have enough resources for everyone. And instead of using money to share resources we will continue to use it to destroy the world. Without resources why do we need money? We shouldn't destroy resources to create something we actually want to use to allocate the resources. Especially if we are destroying resources when we already don't even have enough for everyone in the world
Well as a citizen of earth I think we can do our part by planting trees and lessen the use of fossil fuels, naturally right now we are engaging in a global warming problem and the only thing we can help is making an effort in lessening the use of electricity, that is why earth hour was establish all over the world in taking out all lights in different parts of the world well regarding in bitcoin mining, Miners now need a great amount of electricity I think providing an eco friendly miners should be useful,
How would the currency be created, if the reward for people performing planet saving activities, then what creates the coin? (the two things to me seem completely unrelated)
It sounds nice as an idea but can't see (in a realistic sense) how its possible.
The loss of resource for mining is balanced by the rewarded Crypto to the miner, this balance allows it to be continuous, when someone does something that helps the environment, that helps everyone on the planet but who is going to reward the person that did it?
I don't mean to come across as negative towards your idea
It sounds nice as an idea but can't see (in a realistic sense) how its possible.
The loss of resource for mining is balanced by the rewarded Crypto to the miner, this balance allows it to be continuous, when someone does something that helps the environment, that helps everyone on the planet but who is going to reward the person that did it?
I don't mean to come across as negative towards your idea
In order to create a better future - first you have to imagine it. It seems like you have a good imagination but you might want to help out the rest of us and describe how this might work.
Yeah it would definitely be difficult.
I can barely wrap my head around it enough to even explain what I am thinking about
Basically:
1. bitcoin requires asset destruction for mining
2. it would be great if there was some way to make bitcoin based around asset preservation instead
I can barely wrap my head around it enough to even explain what I am thinking about
Basically:
1. bitcoin requires asset destruction for mining
2. it would be great if there was some way to make bitcoin based around asset preservation instead
I love the idea of this concept, but I think the reality of it would very difficult. Such an altcoin would still need to be programmed and rewarded some how, this means that the mining aspect of it is sort of required for a cryptocurrency.
One thing I personally don't like about Crypto is how wasteful it is when it comes to resources like electricity and man hours.
Mining costs play a large roll in the end value of Crypto. The more resources destroyed in mining, the more digital currency that is created
I think this is very backward. Instead of destroying resources to make a new currency we should be protecting resources and awarding those who help to save the planet. What if there was a Crypto that wasn't backed by asset destruction?
We could essentially incentivize people to do good things by awarding them crypto. Instead of going to a "job" you can decide how to spend your time. Anything that could be considered not environmentally friendly could be a debit. And everything that is beneficial to the planet/saving the world could be a credit. People could have freedom to live their life more to the fullest and technology could gradually replace most "jobs".
Basically what I am trying to say:
What if there was a way to create crypto based on saving resources rather than based on destroying resources
Mining costs play a large roll in the end value of Crypto. The more resources destroyed in mining, the more digital currency that is created
I think this is very backward. Instead of destroying resources to make a new currency we should be protecting resources and awarding those who help to save the planet. What if there was a Crypto that wasn't backed by asset destruction?
We could essentially incentivize people to do good things by awarding them crypto. Instead of going to a "job" you can decide how to spend your time. Anything that could be considered not environmentally friendly could be a debit. And everything that is beneficial to the planet/saving the world could be a credit. People could have freedom to live their life more to the fullest and technology could gradually replace most "jobs".
Basically what I am trying to say:
What if there was a way to create crypto based on saving resources rather than based on destroying resources
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