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btc as mean of pay do you use it ?
#43
(04-29-2017, 05:20 PM)Rattzo Wrote: I have still never found an answer as to what btc mining acually IS.

I did read once a dude had like 30 cpus in one room doing it and died from overheat/dehydration

lol your signature goes well with your post Big Grin

yes you are correct certainly at the beginning that was idea using cpu power to solve maths equations,dont ask what sort since no clue actually,one would get rewards in block of 50 coins,since it was of no use at the begining people did it for fun as experiment,similar to those people would let run their pc to work on networks solving protein issues,looking for alien signals etc.

When it gained some value,now this is consipracy stuff so not sure how legit it is,but someone strarted paying money for it,first it was worth like 0.03 cents,then couple $ until it got to thirty or so and collapsed then someone who figure that out, repeated price increase,and somehow it latched on,once there was value someone figured to make code to mine using gpus since they have a lot more processing power not long after that asics came out -some sort pc board that only solves them equations and at that point it got capitalized on.

Since if it stayed on cpu it would been years before difficulty level increased,but once asics got introduced and coins became mined by thousands it rendered any cpu/gpu useless,and even with asics proper farm now uses enough electricity to power whole town,just to solve some useless code.

i like creators original idea as it being currency of sorts and everyone having share of it,but once you have few major companies involved that basically control 70% of all the market its virtual atm for most,since besides using it on the net to buy not so legal stuff its useless given there are better payment options and normal currencies for day to day use.So id call it medium for cash transfer but for most its money making business,once price is high enough people unload into good old currency and makes for great retirement those who are in it.
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Messages In This Thread
btc as mean of pay do you use it ? - by cmdline - 03-21-2017, 09:09 AM
RE: btc as mean of pay do you use it ? - by Sudsy - 03-21-2017, 05:59 PM
RE: btc as mean of pay do you use it ? - by Sudsy - 03-22-2017, 04:32 PM
RE: btc as mean of pay do you use it ? - by barq2 - 04-14-2017, 11:58 AM
RE: btc as mean of pay do you use it ? - by barq2 - 04-29-2017, 12:10 PM
RE: btc as mean of pay do you use it ? - by cmdline - 04-29-2017, 06:09 PM
RE: btc as mean of pay do you use it ? - by barq2 - 04-30-2017, 09:27 AM

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