There is a problem when asics come along and suddenly only an elite group has the chance to mine though.
Hey Tante,
The idea being proposed isn't to only allow MN operators to mine, but to do away with mining completely. The MN network would handle block generation and distribute payments in the same manner as the current 20% they receive off blocks. So no asics at all.
I'd have to study how that would work, but off hand, I don't like the idea. I don't want to entrust the block chain to a few. And who is to know if one entity has control over 50%+ of the network? For DarkSend, that's not that big of a deal because a few rounds and you've minimized the chance that information could be gleaned by big masternode operators, but the block chain control? That's just frightening. I'd rather see masternodes used as a check system against any mining entity having more than 50% of the network.
But I haven't read the proposition. I understand that mining is kind of a waste of energy.... but is it?