cryptocurrency

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[ask fedi] Why do people hate crytocurrency? (lemmy.ml)

submitted 3 years ago by [email protected] to c/[email protected]

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Considering recent incidents on Mozilla and Ubisoft, why do people hate cryptocurrency so much?

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[–] [email protected] 0 points 3 years ago (1 children)

Yeah for sure, but I think the overall picture is that bitcoin is needlessly energy expensive. A proof of stake system would work much better in terms of efficiency.

I was thinking it would be great to base a cryptocurrency onsomething like folding@home. Instead of just doing meaningless computation, you'd find something like new protein folds which is actually useful. And this kind of work can't be automated easily, so the work to actually mine things would be a human effort. And if this led to somebody figuring out how to do this automatically that would be great too cause we'd be advancing science that way. Having a science coin would be really cool. :)

[–] [email protected] 1 points 3 years ago* (last edited 3 years ago)

Was it not that a few years ago, a BOINC team had tried to fake results, to get more BOINC points (and reach higher in the performance charts)? And that (IIRC) was not even about earning Gridcoins as incentive to fold/crunch one such example. Although Gridcoin pools have misused BOINC project as well: example.

So the main goals of distributed scientific computing would certainly get into some kind of danger there, if people fake WU results already without extra incentive (from the actual BOINC projects) to do so.