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Any system that enables payments uncoupled from identity - or customer service - over the internet is going to be prone to abuse. Bad money pushes out good mone
by Kalium 8y ago
Any system that enables payments uncoupled from identity - or customer service - over the internet is going to be prone to abuse. Bad money pushes out good money, and paying with someone else's electric bill is always cheaper than paying with yours.
Which is to say that pretty much any form of cryptocurrency is likely to stay abuse-prone.
Practically speaking, the amount of electric bill you'd have to pay to make up the costs of what your currently pay for with data would almost certainly be shocking. I can't imagine that it costs anything like $5 to mine $5 worth of Monero on your average computer in the first world. And that would be just enough to pay for Gmail, never mind everything else!
- uberswe 8y agoOn an average computer it would take weeks or months to mine $5 worth of Monero but it is doable.
- Kalium 8y agoI don't mean to suggest in any way, shape, form, or manner that it cannot be done! Only that it cannot be done in a way that is anything resembling cost-effective. The sheer, staggering inefficiency involved might help incentivize usage away from a proxy for micropayments and towards malware.