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Showing 8 of 8 results by alekSalac
I remember a few years ago there was a project like this.
Where you had to own the coins to be able to mine the coin. Coin profitability was actually very high. Because many miners had to purchase the coins to be able to mine.
Then…. Exit scammed.
Forgot the name of this coin? Maybe someone remembers?
yes, i remember too. but I do not propose a new coin, but that this system (or similar) be implemented in existing coins such as etc,erg,rvn,beam...Where you had to own the coins to be able to mine the coin. Coin profitability was actually very high. Because many miners had to purchase the coins to be able to mine.
Then…. Exit scammed.
Forgot the name of this coin? Maybe someone remembers?
Bear is knocking on the door, together with post-Merge situation, we are all witnesses of devastation of POW coins.
We are already in the bear market incase you didn't knowQuote
Main problems: -big farms getting in and out, resulting increase the Dif...
-lot's of miners in fear dumping coins, resulting price drop...
It's sort of a free market.-lot's of miners in fear dumping coins, resulting price drop...
Quote
Proposal how to save POW: prerequirement to mining is that you have coins in your wallet(or node)
for example: 1 coin = 1 mh/s, no need to lock coins, just to own them.You need to have desktop wallet(or node), with deposited coins, active on network.
Direct your rigs to your wallet(or node), miner program checks amount of deposited coins, and approve strenght of your hardware.
The proposal all feels like a hybrid of POS which i believe most POW miners hate.for example: 1 coin = 1 mh/s, no need to lock coins, just to own them.You need to have desktop wallet(or node), with deposited coins, active on network.
Direct your rigs to your wallet(or node), miner program checks amount of deposited coins, and approve strenght of your hardware.
Quote
-who want's to mine need's to HODL coins, if you don't have coins you must buy them, that's how we create demand on exchange
After acquiring mining gear, you also want miners to buy coins. Don't you think this will discourage retail miners from even participating.Quote
-that's how we prevent centralisation (big farms)
You will fuel it instead. Big players can afford lots of coins as opposed to small farm miners. it all looks like POS.Quote
-in that way we prevent miners to dump coins
The main reason people mine is to earn out of it. If you prevent them from selling the coins, then tell me one reason why they should mine?
that is just a figure of speach-a free market without any rules is not good
-it is a hybrid, love it or hate it, it will save gpu pow
-miners were not discouraged when they bought equipment for three times the higher price. from another point of view, investing in equipment or investing in coins, almost the same.
-that's the point, the big players have to buy a lot, and the small farms buy a little. That's how they create demand and push price up. it's mix POS, MN and POW
-you can sell the mined, and make a profit. but you don't want to sell the deposited coins, because you want to continue mining, so supply on exchange decreases
Bear is knocking on the door, together with post-Merge situation, we are all witnesses of devastation of POW coins.
Main problems: -big farms getting in and out, resulting increase the Dif...
-lot's of miners in fear dumping coins, resulting price drop...
Proposal how to save POW: prerequirement to mining is that you have coins in your wallet(or node)
for example: 1 coin = 1 mh/s, no need to lock coins, just to own them.You need to have desktop wallet(or node), with deposited coins, active on network.
Direct your rigs to your wallet(or node), miner program checks amount of deposited coins, and approve strenght of your hardware.
Pros: -who want's to mine need's to HODL coins, if you don't have coins you must buy them, that's how we create demand on exchange
-that's how we prevent centralisation (big farms)
-in that way we prevent miners to dump coins
- take the best from both worlds, MN and POW
- natural growth of network, because total hash power is proportional to total coin suply
- only those who belive in certain project, buy coins and HODL, can mine and earn
Cons: -i don't know any, you tell me in comments...
Main problems: -big farms getting in and out, resulting increase the Dif...
-lot's of miners in fear dumping coins, resulting price drop...
Proposal how to save POW: prerequirement to mining is that you have coins in your wallet(or node)
for example: 1 coin = 1 mh/s, no need to lock coins, just to own them.You need to have desktop wallet(or node), with deposited coins, active on network.
Direct your rigs to your wallet(or node), miner program checks amount of deposited coins, and approve strenght of your hardware.
Pros: -who want's to mine need's to HODL coins, if you don't have coins you must buy them, that's how we create demand on exchange
-that's how we prevent centralisation (big farms)
-in that way we prevent miners to dump coins
- take the best from both worlds, MN and POW
- natural growth of network, because total hash power is proportional to total coin suply
- only those who belive in certain project, buy coins and HODL, can mine and earn
Cons: -i don't know any, you tell me in comments...