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That's why i said there should be a way to cash out immediately. Of course if you were actually to do something like this, it will require a lot of thought, an
by cocktailpeanuts 9y ago
That's why i said there should be a way to cash out immediately.
Of course if you were actually to do something like this, it will require a lot of thought, and I personally won't touch anything like this because I don't believe in junk currencies and would rather spend my time working on something meaningful.
But I think the idea itself is interesting and worth thinking about instead of just discounting it as "not efficient".
- IncRnd 9y agoIt is well thought out. Today, bitcoin is mined on ASICs. GPUs and CPUs do not provide enough processing power, since they are not efficient at this algorithm in comparison to ASICs that are purpose made for this algorithm.
- cocktailpeanuts 9y agoThis brings us back to my point 1 and 2. I don't know why people keep telling me about Bitcoin when the whole point of my comment was about non-bitcoin cryptocurrencies. Bitcoin mining is not economical anymore for minor miners, which is why we have mining pools, but there are other cryptocurencies that are just starting out and need miners. Not sure if you're aware but everytime a new promising altcoin starts out GPU mining does work for a bit in the early days. And then it doesn't. My point was if you could identify these promising altcoins during the early stages it may make sense. I said nothing about using Bitcoin to do this.