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And what legitimate business or personal need does hashing blocks satisfy? A camera is useful even if you don't use it to produce a Youtube video. The average p
by cromwellian 8y ago
And what legitimate business or personal need does hashing blocks satisfy? A camera is useful even if you don't use it to produce a Youtube video. The average person buying a camera isn't seeking to make money off of it by photographic profession or vlogging.
However, the vast majority of people purchasing ASIC miners think they're going to make money from them.
Another example: GPUs, some people bought em for mining, but independent of mining they accelerate games and digital content creation, and lots of other useful computation.
- hndamien 8y agoThey provide network security in exchange for money.
- cromwellian 8y agoThe people who own most of the hashing power (esp those in China) aren't interested in network security, they're interested purely in money. It's the true believers who think cryptocurrencies are going to save the world from centralized banks who are getting scammed.