ShowHN:BTC-like cryptocash with arbitrary tradeable computation in proof of work (docs.google.com)

Abstract:

  I describe the design of NooShare, a decentralised ledger similar to
  Bitcoin with the novel feature that its proofs of work are iterations
  of essentially arbitrary Markov-Chain Monte-Carlo (MCMC) chains, the
  scheduling of which can be purchased using the currency itself.  It is
  a novel economic basis for sharing fallow computational resources.

I've given serious thought to this problem, but I am by no means an expert on any aspect of it, and I welcome all critical feedback on all aspects of it.