Worst of all is that it's intentionally energy intensive.So much waste for useless shit
I dunno why people were so stupid to start mass mining, considering that they get less bitcoins if it is popular.Worst of all is that it's intentionally energy intensive.
The complexity of hashing algorithms which must be processed via bitcoin mining is dictated by the amount of mining units working at any one time. So if a hundred new mines go into operation, the algorithm complexity will, for example, change from "10-rating Difficulty" to "35-rating Difficulty", forcing every unit to complete more calculation cycles before a result is found.
That way, it doesn't matter if there's one bitcoin mining unit or one billion, the output will always be the same amount of bitcoins per year, just shared among more or fewer people depending on how many are actively mining.
It's actually very clever. Complete and utter waste of human resources though. Like turning all your radiators on and opening all the windows, or buying a walk-in freezer and leaving the door wide open.
Never heard of [email protected]
It can also be set up to use full power and then it becomes very taxing. FX 6300 can be fully loaded by it.
And you help researchers too, that's really nice, but really impractical.This is very different from bitcoin mining, because [email protected] simply uses extra CPU power to do what needs to be done. The difference is that bitcoin mining is designed specifically to become more computationally intensive as more miners join the bandwagon, simply for the joy of making the mining more difficult, to ensure all the bitcoins aren't mined away in the space of a few days or something. In comparison, [email protected] does not get any more or less computationally difficult, in fact if more people sign up to the project it would be great - more processing power to help get shit done, actual shit, rather than nonsense arbitrary bitcoin mining shit.
I just tried it out and yeah, it only uses PC when it does nothing or next to nothingThis reminds me, actually, of one of the original 'shared processing power' projects, called [email protected] It used the shared resources of idle personal computers to process the data harvested in the search for extra terrestrial life. I was signed up to that for a while, but it started to have problems so I quit!
What do you think it will evolve to?bitcoin is like internet 1.0
a lot of money got thrown at internet startups in the 90s....most startups failed
out of the dot.com bust, however, a few survivors emerged and went on to build the modern internet economy which has transformed the world
likewise, a lot of money has been thrown at bitcoin and other cryptocurrencies...many of these digital currencies have and will fail
but out of this bubble a new technology may also emerge: blockchain....and like the internet, it too promises to transform how the economy works