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The hashes are not being "wasted", it's the cost of Proof of Work. By definition, it can't be useful for something else. It has to be "wasted". I can't understa
by jafaku 12y ago
The hashes are not being "wasted", it's the cost of Proof of Work. By definition, it can't be useful for something else. It has to be "wasted". I can't understand how you can see that it's being used to secure the first decentralized digital currency ever, that people all over the world are already using, and at the same time say it's being wasted.
- digital-rubber 12y agoHell yes :) Bitcoin is similar to a pyramid scheme. Started mining early? You are rich! Started mining yesterday? you are screwed. And the more people get interest, the more fopping rich (i still think bitcoins have zero value), increasing value their mined coins will have. Don't be so naive please.
- deleted 12y ago[deleted]
- jafaku 12y agoDo you realize what you just said applies to every successful investment? If you started investing in Apple early, you would be rich too. Does that make Apple a "pyramid scheme"? Or maybe, just maybe, it's just that riskier investments have bigger rewards? Don't be so stubborn please.
- digital-rubber 12y agoIf you think stock trading and bitcoin mining is the same, then i'm not the one that is stubborn.
- jafaku 12y agoI didn't say they were the same, I said they were both investments. You need to work on those straw men.
- theorique 12y agoIt's called diminishing marginal returns and it's a feature of many different economic and physical systems.