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Business idea, What to do with all the PoW computational power?


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17 minutes ago, EasterBunny said:

It looks like Computing for Good and SETI@home are defunct. Are there any other projects that can use distributed computing in a meaningful way?

Funny, I was wondering about this the other day, thinking whether some similar project could be revived but rewritten using Flare/FTSOs & smart contracts. It's be particularly cool if you could choose your endeavour, then receive tokens to prove you donated X amount of computational power, then if there were applications developed based on some breakthrough, or money made by some issue being solved, you could receive partial compensation or something.

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Baggy (who has supernatural, mushroom-induced clairvoyant super-powers) posted this a second ago literally right after I replied above:

https://www.vitadao.com

Quote

VitaDAO is a decentralized collective funding early stage longevity research

Our mission is to extend human lifespan by researching, financing, and commercializing longevity therapeutics in an open and democratic manner.

VitaDAO and its members will own the intellectual property assets that result from the projects it supports. Members can join VitaDAO by purchasing VITA tokens or earning them through contributions of work or Intellectual Property.

@baggy23 <--- :wizard:

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By far most computing power in the cryptocurrency space is used by Bitcoin. The hashing there is specialized enough that it is not really possible to do anything else other than mining Bitcoin with those ASICs.

ETH seems to be just a few months away from PoS for a few years by now...

A good use for that hardware would be to be dormant as much as possible and not running 24/7 turning into e-waste faster.

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33 minutes ago, Sukrim said:

The hashing there is specialized enough that it is not really possible to do anything else other than mining Bitcoin with those ASICs.

Is there an article on this? Or would you mind elaborating?

I thought they were good for gaming, or VR. At least I know gamers who used to be mad about the chop prices going up

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All bitcoin ASICS do is get a few bytes of data, add a nonce, hash the result twice and check if there are a lot of zeroes at the start of the hash. Then increment the nonce and try again. Bitcoin isn't mined on GPUs any more since about 2013 or so.

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  • 2 months later...

It is a good business idea, and I think you can really make good money on it. I can also suggest you use the services of innovation-park.eu. They will surely help you to fulfill your business idea and transform it into a real business. They helped me find investors, and without their help, I wouldn't be able to open more shops in other cities. Thye can find the best possible property for your needs, ensure a cost-efficient and smooth transaction, loan, and mortgage process and optimize your tax setup and connect you with grants and subsidies at no extra charge.

Edited by stevenpiper
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1 minute ago, thinlyspread said:

Not exactly what @KarmaCoveragemeant, I know, but I love this:

 

I dont think he is on XRPchat but Jay from Spendthebits is doing exactly this... BTC over XRPL because using XRPL improves the performance of BTC.

Honestly the two ledgers (BTC & XRPL) shouldn't even be considered to be in the same league. XRPL does so much more, way faster, and for cheaper... BTC just can't keep up, period. BTC is a dead man walking.

People looking at price as an indicator of value are being greatly mislead. The prices at this point are mostly an indication of the amount of marketing, with BTC having tons of positive marketing, and XRPL having tons of negative marketing/FUD.

You know that iconic Apple commercial about "big blue" and throwing the hammer to break the screen that is brainwashing the crowd... BTC is "big blue", XRPL is the tool for more practical and knowledgeable people who aren't sucked into the big screen's programming.

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