
Ask HN: Cryptocurrency naturally pegged to cost of hashing - pgustafs
Price volatility is a major obstacle to cryptocurrency adoption.<p>Here&#x27;s a solution: set the mining reward equal to the expected hash count for mining a block.  The value of the coin will naturally gravitate to the cost of computing one hash.<p>Why hasn&#x27;t this been implemented yet?  My best guess is that the Ponzi-scheme-like nature of most cryptocurrencies is a &quot;feature.&quot; Most crypto enthusiasts are in it to make a quick buck, not for ideological reasons.<p>Where can I find a community of crypto-idealists to start building the decentralized utopia of the future?
======
wmf
Vitalik wrote about this years ago but I guess no one paid attention:
[https://blog.ethereum.org/2014/11/11/search-stable-
cryptocur...](https://blog.ethereum.org/2014/11/11/search-stable-
cryptocurrency/) There's plenty of work on complex stablecoins (which have all
seen virtually no adoption other than Tether) but no one besides us cares
about simple volatility dampening techniques.

Ultimately there are so many obstacles to adoption that it's not clear that
solving one or two of them will be noticeable.

~~~
pgustafs
Thanks for the link and your opinion!

