Quote from: deisik on Today at 05:04:05 PM

Quote from: spy100 on Today at 04:29:41 PM

Quote from: deisik on Today at 04:11:48 PM

Quote from: spy100 on Today at 03:35:18 PM

Solution

Okay, could you please explain in layman terms how it is going to work?

And, more specifically, why will it be better than Bitcoin, and, more importantly, better than fiat as a currency (i.e. a medium of exchange). Your entire premise seems to be that we are using cryptocurrencies not as they were envisioned (that point I'd like to agree with). However, what's in your solution that would make us abandon fiat as a means of exchange?

1.You got to generate some sort of data that has value (prime numbers/a part of value of PI/hashes for all passwords ,permutations etc) ... it's just a example (close to mining)

So you suggest it should be a hard currency

That is, a currency that has value of its own, so-called intrinsic value (other than transactional utility), e.g. gold. Here, I don't question how truly valuable your solution would be. But let's assume that there is universal value in it, whatever it might be (think time as In Time). Then people will start hoarding it in pretty much the same way they are hoarding now Bitcoin. For your currency to actually work as a medium of exchange (which is your point), it should be depreciating over time, and it should be better than fiat at that (because we already have depreciating fiat)

Hording is not the problem ... people hord cash also ..some people even hord cats / garbage etc ... the problem is not hording ...why would you want it to depreciate for what reason ? ( To depreciate it you increase the numbers of coins that can be created over time ...like increase serial number size every 10 years)

1 gram of gold = 1 gram of gold
1 .coin file = 1 .coin file