Price volatility is a major obstacle to cryptocurrency adoption.<p>Here'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't this been implemented yet? My best guess is that the Ponzi-scheme-like nature of most cryptocurrencies is a "feature." 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?
Vitalik wrote about this years ago but I guess no one paid attention: <a href="https://blog.ethereum.org/2014/11/11/search-stable-cryptocurrency/" rel="nofollow">https://blog.ethereum.org/2014/11/11/search-stable-cryptocur...</a> 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.<p>Ultimately there are so many obstacles to adoption that it's not clear that solving one or two of them will be noticeable.