The discussion centers on the inefficiency of cryptocurrency mining, particularly Bitcoin, which utilizes specialized hardware known as ASICs to solve computational problems that lack real-world applications. Participants debate the potential for mining to be redirected towards solving meaningful problems, such as those tackled by organizations like World Community Grid (WCG). However, the consensus is that the current business model for cryptocurrencies does not incentivize this shift, as the computational power donated to WCG does not yield financial returns. The conversation highlights the need for a viable business model that could merge profit with socially beneficial computing tasks.
PREREQUISITESCryptocurrency enthusiasts, blockchain developers, social impact technologists, and anyone interested in the intersection of profit-driven and socially beneficial computing.
That is very interesting...and surprising. I don't expect the mainstream media to get the details right of any tech story, but I hadn't seen that there is a Gov controlled layer running a private blockchain, that's 100% different to what's been reportedfluidistic said:
Just have to look at the correct news. Google returns https://cryptosrus.com/breaking-el-salvador-banks-are-using-wrapped-bitcoin-on-algorand-to-transact/.Melbourne Guy said:That is very interesting...and surprising. I don't expect the mainstream media to get the details right of any tech story, but I hadn't seen that there is a Gov controlled layer running a private blockchain, that's 100% different to what's been reported
Aha, I thought you had first-hand knowledge of this, @fluidistic, now I have to do some research because Google returns so many things, it's hard to sort fact from fiction ☹fluidistic said: