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How does investing engineering effort in designing mining ASICs and spending dollars to purchase what is essentially a currency generating machine help us as a
by tbrownaw 13y ago
How does investing engineering effort in designing mining ASICs and spending dollars to purchase what is essentially a currency generating machine help us as a community?
It's supposed to help said currency become more solidly established, and therefore more useful to more people.
I wish we were just as enthusiastic and race to solve other problems too -- like spreading education, finding out ways to purify water, or maximizing agriculture throughput in famine, or predicting when the next hurricane, tsunami, or earthquake is coming our way.
I'm pretty sure people are enthusiastic about those things, and probably quite a lot more people than are into bitcoin. They're just less visible, since those aren't the cool new shiny thing (and aside from the weather/earthquake predictions, they're probably not heavy enough on software to be considered of interest here).
- anigbrowl 13y agoIt's supposed to help said currency become more solidly established, and therefore more useful to more people. I don't think you're going to find people flocking to a currency where it turns out that they have zero change of a big score. At least during the gold rush there was the possibility that a small miner could get lucky.
- robertfw 13y agoThe idea is that once a sizeable enough amount of bitcoin is in circulation, the amount of risk associated with it will go down, thus making it more useful to people - volatile money is of no use to me.