[free-software-melb] starting your own crypto currency
andrew.mcglashan at affinityvision.com.au
Sun May 18 00:37:42 EST 2014
On 16/05/2014 6:51 PM, Russell Coker wrote:
> I'd like to start my own crypto currency. What's the easiest way of doing it?
> I'd like to use an Android phone client for payments if possible, hopefully a
> FOSS Android app at least.
> The total value of currency released will be only a few hundred dollars.
> Also I want to run the central bank and be the only issuer of currency.
> Any suggestions? I guess I could just buy half a bitcoin, but it might be
> more fun to start my own.
Mining any kind of cryptocurrency that is like BitCoin is pointless; if
you don't have the /right/ ASIC, you get nowhere and if you use non ASIC
gear, then it is very power hungry -- that goes strongly against your
views on so called climate change.
If you believe climate change is real, then you should not be mining
coins that have questionable benefit over the potential /costs/ ..
There are other ideas, such as proof of ownership over power hungry mining.
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