Quote from: Istanbul34 on February 20, 2014, 06:05:17 AM

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Bitcoin depends on a small network of mining nodes who support their operations by generating a fixed profit of 3600 bitcoins per day. The available daily operating budget to keep Bitcoin from freezing up is thus $3.6M or less (at $1K/BTC or under) to generate the current 25 million GHash/s needed daily. A representative miner pickaxe is a Butterfly Labs Monarch costing $2000 and using 350W of power to produce 600 GHash/sec. Thus the current Bitcoin mining network has sunk unit infrastructure costs of at least $83 million and (at $0.10/KwH) ongoing electricity costs of at least $35,000 per day.

Both costs are rising faster and faster. Exponential growth of Bitcoins hashrate (see blockchain.info/charts/hashrate) means mining rigs and energy use will skyrocket out of control, sooner rather than later. Bitcoin, and clones like Doge, are thus by their very nature destined to fail.

NXT is the sustainable solution to this problem. By using cooperative transparent forging, not competitive gigahash mining, NXT does not have an exponential forcing function at its core that drives its costs and energy consumption ever higher. A NXT blockchain support network of 1000 Odroid U3 nodes has a one-time unit infrastructure cost of only $60 thousand and uses only $48 per day in electricity forever.

You should look into Quark. What you describe is exactly what Quark tried to solve and is pretty successful so far in their economic model and still keep it decentralized.

Quark stability has been pretty incredible.