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The worst aspect of ecoins is mining, followed closely by scamming and speculation. I think the ecoin concept by itself is a step forward for the progress of h
by ASalazarMX 7y ago
The worst aspect of ecoins is mining, followed closely by scamming and speculation.
I think the ecoin concept by itself is a step forward for the progress of humanity, and without mining, the blockchain needs a lot less resources. How would you fairly distribute ecoins if mining is excised? No idea.
- javert 7y ago> How would you fairly distribute ecoins if mining is excised? No idea. Without mining, you would have an even bigger problem than distributing coins, which is making the system secure. People are working on solutions to that (I have no idea if they will prove fruitful).
- grubles 7y agoMining is arguably the best aspect since it incentivizes using cheap renewable energy, which is why you'll find many large industrial mining farms using hydroelectric dam-produced electricity.
- perl4ever 7y agoPrinting a dollar bill doesn't require dissipating a dollar's worth of energy. It only costs a few cents. "Printing" a dollar's worth of Bitcoin inherently requires a dollar's worth of energy to be used with no other purpose. That seems like a stark difference to me and the basis for thinking Bitcoin is like a virus. It's the closest thing to the "gray goo" scenario we've seen yet.
- dclowd9901 7y agoI wouldn't mind if the work of mining was going toward fulfilling ledgers that are doing meaningful things, like ensuring accountability, rather than trying to find vapor money.