[Scienz]

This is why I'm just throwing the idea out there (though, as you say, it's probably not even a very original one). It would take some thought to figure out a way to make it work as well as the current hashing system. Perhaps "pointless" was a careless choice of words, but the incentive is to put all those cycles to a use that had more value for society, apart from the value of creating bitcoin itself. I forget the exact order of magnitude, but iirc it's something like tens of millions of dollars of electricity being used by miners each year, for no other purpose than to verify the blockchain. It'd be convenient if we could still have cryptocurrency, but all the computing power was going into something like BOINC instead. Hashing is used for good reasons, as you point out, but it's a wasteful use of resources, in my opinion. Even if it wasn't the best cryptocurrency, something that would crash and die with new scientific/mathematical advances, I'd still consider it successful if it got all those resources working on more valuable problems for a while.

It's definitely a half-baked idea. I'd like to take a shot at seeing if I could work out those details, but it's not the top priority on my list of projects. Maybe in a few years, if it is possible and no one else has managed it yet.