Quote from: DannyHamilton on Today at 03:46:52 PM

So, my first question is, if you were going to implement your idea...
How do you stop me from running mining equipment in my house in the U.S.?
How do you stop someone else from running mining equipment in their house in Spain?
How do you enforce your idea so that the Central Banks are the only miners?

If central banks want to be miners, they can already do that. Nothing is stopping them. But your idea isn't adding Central Banks as miners, your idea is REMOVING all other miners from the world. What are you going to do, knock on doors and inspect households and shoot anyone that is found to be in possession of mining equipment?

My second question is... How does your idea solve anything? It's still an arms race. Each central bank will want to have MORE hash power than the other countries. This will both bring in more revenue (to offset their mining costs) AND will ensure that the enemy countries can't collude to attack transactions from allies. As such, total amount of equipment and electricity will continue to increase. Only now, instead of the amount of mining being self-regulated by profitability, these countries can tax their citizens and engage in mining at a loss to increase their total influence. The will result in even MORE electricity being used than the current system.

The same way other chains do, only accept valid blocks from an approved list of nodes, You can mine if you like but you won't get any reward for it...

The idea solves this dumb race to be the first to compute a block, this is driving energy use to the moon, not just the price!

If there is a fixed number of mining farms then there is only ever XYZ amount of hash power available, this then causes a difficulty readjustment much lower to maintain the 10min/block ratio.

The community would set a reasonable hash limit to the central banks, via on-chain voting. If there is a hash limit then there won't be competitive mining, it would just be there for the pure purpose of validating and securing the blockchain.

Any future mined coins would have to be staked like ETH2.0 and any attempt at a bad acting would result in the CB deposit getting burned.