The only reason miners profit on new garbage coins is by scamming idiots into paying good money for them.
Thus the mining becomes a scam.
The original poster makes it clear it is all about scamming money out of people, not about providing a secure blockchain.
So this thread is basically about how best to scam people, not about making a secure currency at all.
Miners are an evil best avoided entirely. For proof of work blockchains they are unfortunately necessary.
Mining is intended by design to tend toward no profit.
Only the most efficient generators of electricity should be able to afford to mine, if others can then the market is screwed up, it has not reached efficiency.
This thread basically proposes deliberate creation of deliberately inefficient markets so as to scam money from consumers by profiting from the deliberate inefficiency of the proposed markets.
Basically the plan is efficient markets advantage consumers so lets say screw market efficiency and create yet another new market deliberately designed to at least temporarily be inefficient so we can at least temporarily screw the consumers, scamming them into paying for the deliberate inefficiency of the markets we create...
-MarkM-
Thus the mining becomes a scam.
The original poster makes it clear it is all about scamming money out of people, not about providing a secure blockchain.
So this thread is basically about how best to scam people, not about making a secure currency at all.
Miners are an evil best avoided entirely. For proof of work blockchains they are unfortunately necessary.
Mining is intended by design to tend toward no profit.
Only the most efficient generators of electricity should be able to afford to mine, if others can then the market is screwed up, it has not reached efficiency.
This thread basically proposes deliberate creation of deliberately inefficient markets so as to scam money from consumers by profiting from the deliberate inefficiency of the proposed markets.
Basically the plan is efficient markets advantage consumers so lets say screw market efficiency and create yet another new market deliberately designed to at least temporarily be inefficient so we can at least temporarily screw the consumers, scamming them into paying for the deliberate inefficiency of the markets we create...
-MarkM-
It figures only a pure jackass would reply to this thread.
It has nothing to do scamming you incompetent asshole.
Fucking dicks.
This thread is about mining algorithms and the future of them. Where do you see scamming?
forget it. I already know what I need to know. Just thought this would be an interesting discussion.
