trout007 Posted February 3, 2014 Share Posted February 3, 2014 Here is an interesting concept for a crypto currency that has the one thing bitcoin is lacking, utility. See http://www.bitcloudproject.org/. The basic idea is instead of uselessly mining the blockchain which really doesn't do any useful work for anyone why not do something useful like provide cloud storage and bandwidth? You will get paid for providing storage and bandwidth. Interesting concept. Link to comment Share on other sites More sharing options...
Wesley Posted February 3, 2014 Share Posted February 3, 2014 Here is an interesting concept for a crypto currency that has the one thing bitcoin is lacking, utility. See http://www.bitcloudproject.org/. The basic idea is instead of uselessly mining the blockchain which really doesn't do any useful work for anyone why not do something useful like provide cloud storage and bandwidth? You will get paid for providing storage and bandwidth. Interesting concept. First of all, mining is not useless, but a way to reward and build a mining base by which bitcoin can be built on as miners are who verify and audit transactions. There also is a disadvantage to mining for a purpose in that the more that mining has a purpose, the easier it is to exploit. If you know what the answer or the end goal is already, then it makes rewards easier to get without participating in the system, if that makes sense. This may or may not be a great idea, I just wanted to point out that there is a reason why bitcoin operates in the way it does. Link to comment Share on other sites More sharing options...
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