The current premise is that, by locally monitoring factors, such as the MAC and IP address a user is connected to, we can prevent others signing onto the same device. Essentially, one account may be accessed via multiple devices, however, only one account may be accessed per device. In theory, this should minimise the incentive to create multiple accounts, as there is presently no explicit way to circumvent the issue.
So all I need is a bunch of cheap smartphones? This is already a thing (videogame) gold farmers do.
Further, I fail to see how this coin achieves significant value; especially value commensurate with its intended purpose as a source of universal basic income. The value of the network is equivalent to its computational value, and on gut feeling that seems orders of magnitude lower than what you’d need to fund even the tiniest of basic income schemes.
So all I need is a bunch of cheap smartphones? This is already a thing (videogame) gold farmers do.
Further, I fail to see how this coin achieves significant value; especially value commensurate with its intended purpose as a source of universal basic income. The value of the network is equivalent to its computational value, and on gut feeling that seems orders of magnitude lower than what you’d need to fund even the tiniest of basic income schemes.