Crackpot idea. The entire point of cryptocurrency mining is that you prove that ... | Hacker News

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		imtringued on May 28, 2021 \| parent \| context \| favorite \| on: Sandwell Bitcoin mine found stealing electricity Crackpot idea. The entire point of cryptocurrency mining is that you prove that you have burned X dollars worth of energy. Why not cut the middlemen and just let miners pay in dollars (stablecoins technically)? We can then donate the left over dollars to charities.

paulgb on May 28, 2021 [–]

Because someone would have to verify that the money was donated, which would be impossible to do in an entirely distributed way.

I agree that it would be a Pareto improvement if such coordination were actually possible, though.

quickthrower2 on May 29, 2021 | [–]

This might be how the more centralised coins like Ripple and IOTA work

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