Bitcoin Thread v1, and other cryptocurrencies
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 Dec 2 2013, 03:43 PM
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#1
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Senior Member
5,193 posts Joined: Jan 2003    
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What are the 'complex equations' solved contribute to?
The value in electricity used, what is it converted to? Anything of value? For example, folding@home, end product is computed simulations of cancer proteins (or the like), But I don't see what is all the processing power used in mining bit coins finally converted into. |
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Dec 2 2013, 04:09 PM
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#2
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Senior Member
5,193 posts Joined: Jan 2003
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QUOTE(cloudstrife07 @ Dec 2 2013, 03:53 PM) it is contributed to maintaining the bitcoin ledger a.k.a blockchain. since bitcoin is a P2P concept and u need something to maintain each and every transactions of bitcoins, u need something like blockchain. So much processing power is required to maintain a ledger? |
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