This seems like a great way to get fools to trade something valuable (the electricity they pay for to run arbitrary computation) for something worthless (a new crypto currency).
If you think of electricity as fuel for computers, similar to fuel for a semi, then this scheme seems analogous to an attempt to get truck drivers to drive your stuff to it's destination at their upfront cost in exchange for an IOU that has no backing.
If you think of electricity as fuel for computers, similar to fuel for a semi, then this scheme seems analogous to an attempt to get truck drivers to drive your stuff to it's destination at their upfront cost in exchange for an IOU that has no backing.