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View Diary: The Problem with Crypto-Currencies and Why SolarCoin is Different (124 comments)

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  •  Uff Da (0+ / 0-)

    This is actually a little disturbing, lol:

    I will be passing along some of your comments to the SLR founders because I'd like to hear their reaction to these concerns.
    About the "bitcoin curse" there are also other dimensions I had in mind but didn't have time to elaborate.  Bitcoin not only sucks up the attention in this space, thus quite possibly, eventually crowding out interest in newer cryptocurrencies, but as you said earlier, one can't buy a Solarcoin without buying bitcoin first.  That can't be good for a group that is trying to take hold of their own future with their own cryptocurrency.  Whatever gyrations hit solarcoin prices, another level of price instability will also be added by bitcoin.

    But in the end, I think the main problem is that the implementation, regulation and marketing of SolarCoin will be so expensive due to some of the reasons I indicated, that it will no longer be able to meet its intended purpose of rewarding solar generation.  There are other, more efficient ways of encouraging solar power generation.  

    There is one way out and that would be if SolarCoins could only be claimed in very large blocks so that the cost of verifying each claim is a smaller percentage of the reward.  But then SolarCoin will be a B2B currency and not one for average people.

    good luck.

    I'm not liberal. I'm actually just anti-evil, OK? - Elon James White

    by Satya1 on Thu Apr 17, 2014 at 09:07:45 AM PDT

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