coinman

10 ms·

1. 1.▲
   by coinman 13y ago

   For anyone who's directing their rage at MtGox for this, that should not be the target. We should be outraged at the banking system and the lawmakers instead. They are the ones who are putting roadblocks on to MtGox, as these documents
2. 2.▲
   by coinman 13y ago

   A good comparison: Current estimated power consumption of the Bitcoin network: 1.67 Mega watts. (6,028.57 megawatt hours http://blockchain.info/stats ). Typical power generated by a single Boeing 747: 140 Mega Watts. There&#
3. 3.▲
   by coinman 13y ago

   At present we're in a 'gold rush' phase, and the rewards from mining result with a large amount of resources being spent on it. Mining rewards will diminish over time so it will no longer be feasible to mine as much as in the
4. 4.▲
   by coinman 13y ago

   In a way, bitcoin itself is not really a currency, or money, it's more like an idea for exchanging messages. Bitcoin is really a decentralized messaging system which relies on cryptography and proof-of-work to maintain integrity. Shoul