4

https://bitnodes.21.co/

Full nodes are important everywhere providing visibility and improved network latency. In areas where bitcoin mining is not profitable due to the high cost electricity or other factors what incentives can be used to increase the number of nodes?

Will 21.co be successful in its efforts to install mining equipment in mobile phones and other consumer devices across the world?

4

No incentives to run nodes are required. As people in these countries are presented with more use cases to use bitcoin, organic growth in the number of nodes will follow.

International money transfers and a superior alternative to M-Pesa for retail transactions are both attractive areas for growth in some of the areas with limited node counts today.

| improve this answer | |
3

Will 21.co be successful in its efforts to install mining equipment in mobile phones and other consumer devices across the world?

This is just so bad in so many ways. Mining on a phone makes the least sense of all senseless ideas ever. It took a decade to have nicely powered phones that run more than an hour on a battery load and then add a mining ASIC? And then in the context of "incentivizing full nodes"? In no way is that phone going to be a full node capable of mining (another waste of scarce phone resources if nothing else).

Actually the whole 21 mining thing is very deceiving as their chips mine on their (and only their) pool. Even if you would be running a full node, you'd not be mining on it.

In fact, the entire 21 thing doesn't make any sense at all. I've yet to see anyone explain their marketing blabla.

| improve this answer | |
  • I agree that their mining devices will never come remotely close to a + ROI but that does not appear to be their goal. If they can bring prices down enough to introduce many people to bitcoin (even if they are only mining minuscule amounts from their pool share) then maybe demand for microtransactions will increase. I am not sure how this will make 21co any money but it seems a net positive for bitcoin adoption – Jamal Wilson May 22 '16 at 4:39
  • I've heard that before. But that too makes no sense whatsoever. Starting from the fact that what they call microtransactions has nothing to do with bitcoin: they're account balances within that centralized pool you're forced to use. Second: if there's 0 ROI, those transactions are really going to be micro. 3rd: stilll doesn't explain why it would be done with a phone or how that phone is ever going to run a full node. And it doesn't explain why I can't just deposit 0.01 bitcoin to do those microtransactions instead of wasting 0.5 bitcoin on extra chip+ faster phone to mine 0.00001 bitcoin. – Jannes May 22 '16 at 6:26

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.