Say your opinion!
A hypothetical question that does not necessarily have any ulterior motive; If Anoncoin switched hashing algorithm, what type of hashing algorithm would you liked to see then?
a) The current hashing algorithms used by coins are becoming a variation of the way fiat is created. If you have money you can make money. Even cpu is basically like that.
b) If coins were generated in a more novel way that provided some added value to the process they would catch on. Peercoin and primecoin added value to the process. There are many ways to make the coin generation process less useless.
Anoncoin could develop an algo that is both fair, in that any person can generate a small amount of coins easily, and also useful, in that the process does something worthwhile besides only creating coins.
Does anyone have an opinion on a 100% proof-of-stake system, similar to Peercoin? (actually, they use a mixed POW and POS system.)
The benefit is that there is little energy used with POS compared to energy hungry POW algorithms.
The downside is that there is built in monetary inflation (albeit, very low at 1% for peercoin, if I remember correctly).