Apps Monetising by mining?

jdmustang · Jan 17, 2018

I came across this site: coinhive.com or sparechange.io/
The tl;dr:
It uses javascript to mine Monero. The scripts have an API to start/stop/set intensity (how much of the CPU is used.).
Is this a viable way to monetise an app if it were to be built with something like cordova?
Assuming you allow the user to set the intensity and stats have been created to show power consumption and heat.

Additionally, what if you applied the same idea but to use the computing power for research such as cancer etc?

psionandy · Jan 17, 2018

As a user, I'd consider this monetizing by malware

Hadron · Jan 17, 2018

I would regard any app containing such code as malware, and treat it accordingly.

The truth is that if the human race were capable of rationality we would put an end to crypotcurrency mining. Current estimates are that bitcoin mining alone is using more electricity than New Zealand or Hungary - a vast source of carbon pollution just to perform meaningless calculations in the service of speculation.

Now if you can come up with a proposal that allows cryptocurrency to be mined as a by-product of a calculation that serves a purpose I'll revise my opinion. But as it stands the best thing that can happen is for the bubble to burst and the people doing this to lose their shirts from the electricity bills (which in systems like you discuss are of course born by others).

(Sorry, not in a good mood this evening)

jdmustang · Jan 17, 2018

Hadron said:
I would regard any app containing such code as malware, and treat it accordingly.

The truth is that if the human race were capable of rationality we would put an end to crypotcurrency mining. Current estimates are that bitcoin mining alone is using more electricity than New Zealand or Hungary - a vast source of carbon pollution just to perform meaningless calculations in the service of speculation.

Now if you can come up with a proposal that allows cryptocurrency to be mined as a by-product of a calculation that serves a purpose I'll revise my opinion. But as it stands the best thing that can happen is for the bubble to burst and the people doing this to lose their shirts from the electricity bills (which in systems like you discuss are of course born by others).

(Sorry, not in a good mood this evening)

Thanks for the reply - what about "renting" out the computing power to research companies?

psionandy · Jan 17, 2018

jdmustang said:
Thanks for the reply - what about "renting" out the computing power to research companies?

you mean selling on my device to be part of a botnet?

(this really isn't a step in the right direction)

I really don't think any legitimate reputable 'research companies' would be interested in a small share of the processing power available from distributed android devices..

jdmustang · Jan 17, 2018

psionandy said:
you mean selling on my device to be part of a botnet?

(this really isn't a step in the right direction)

I really don't think any legitimate reputable 'research companies' would be interested in a small share of the processing power available from distributed android devices..

No, I mean stuff like this: https://play.google.com/store/apps/details?id=au.com.vodafone.dreamlabapp

Deleted User · Jan 17, 2018

Exactly what 'problems' is this app solving? How do I know it's not just mining Bitcoin for the app creators?

jdmustang · Jan 17, 2018

LV426 said:
Exactly what 'problems' is this app solving? How do I know it's not just mining Bitcoin for the app creators?

Well I do have an app idea for a kind of gambling management + a suite of tools to help make better decisions, which if used correctly will actually help users make money.
It wouldn't just be a mining app, it would have a proper purpose unlike some apps I have seen that are pure mining - I totally disagree with those. Hence why I liked this method because users could set the intensity/CPU usage themselves.
I just didn't like the idea of in-app purchases or adverts which disrupt the user experience.

Apps Monetising by mining?

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