Ask HN: Cryptocurrency naturally pegged to cost of hashing
Price volatility is a major obstacle to cryptocurrency adoption.
Here's a solution: set the mining reward equal to the expected hash count for mining a block. The value of the coin will naturally gravitate to the cost of computing one hash.
Why hasn't this been implemented yet? My best guess is that the Ponzi-scheme-like nature of most cryptocurrencies is a "feature." Most crypto enthusiasts are in it to make a quick buck, not for ideological reasons.
Where can I find a community of crypto-idealists to start building the decentralized utopia of the future?
2 comments
[ 4.6 ms ] story [ 13.0 ms ] threadUltimately there are so many obstacles to adoption that it's not clear that solving one or two of them will be noticeable.