On Fri, Oct 8, 2021 at 8:02 PM Punk-BatSoup-Stasi 2.0 <punks@tfwno.gf> wrote:
in a block explorer and Joe average could mine daily with low energy consumption some coins to lets say sign-up with a privacy email provider accepting Monero than this would be probably an interesting use case, or using the blockchain with time stamping services, thus users can claim that they did certain things at a certain time, if they wish to do so.
But yes, all in all, I agree with you and nobody cares of the gigantic energy consumption all these crypto currencies require.
That's certainly a problem for things like bitcoin, eth, and even monero, because of 'proof of work'. Then we have 'proof of stake' where the value of the network is 'secured' by...the value of he network, which looks like a scam of sorts and probably allows more more centralization than proof of work. But yeah, so far all the systems have serious limitations.
A while ago, when the horrible Pi crypto currency project started, which used a local 'fountain' on a smartphone to 'mine', with one push of a button per day, I thought while not do something similar with a fountain on an offline computer and once you have some coins 'mined' you simply transfer the amount you like, as a file, securely to an online device and with that purchase then some online goods. If there would be a clever way worked out this would have IMHO the advantage that nobody knows how many funds I have in my offline wallet and the blockchain would only record the transactions. I think with the huge amount of different hashes, keys etc. a 256bit value, or greater can bear, there would most likely no collisions happen when many people create their tokens offline. P.S. The fountain in Pi did not require that you must play some games etc. at some intervals per day, it only required you to push a button once per day. Regards Stefan