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Title: Computing Power Post by: serioussam on April 08, 2013, 12:10:04 PM Does enyone know were all the computing power goes? who gains from all these computer calculating?
Title: Re: Computing Power Post by: dmphotog on April 08, 2013, 12:19:58 PM good question my friend. It is probably all part of some clowdware that someone else is leasing the rights to for big $$$.
Title: Re: Computing Power Post by: maxmint on April 08, 2013, 12:21:08 PM The computing power solely goes into securing the block chain and transactions.
Title: Re: Computing Power Post by: wopwop on April 08, 2013, 12:21:14 PM the miners win this game called bitcoin
i told you the truth of bitcoin now run Title: Re: Computing Power Post by: serioussam on April 08, 2013, 12:24:16 PM The computing power solely goes into securing the block chain and transactions. Wait so your saying that someone created a system witchs soul purpus is to calculate itself.. seems kinda dumb Title: Re: Computing Power Post by: maxmint on April 08, 2013, 12:27:44 PM The computing power solely goes into securing the block chain and transactions. Wait so your saying that someone created a system witchs soul purpus is to calculate itself.. seems kinda dumb The purpose is to secure the whole bitcoin system. That's part of what makes bitcoin so valuable. You might wanna have a read here: https://en.bitcoin.it/wiki/How_bitcoin_works Title: Re: Computing Power Post by: Foxpup on April 08, 2013, 01:11:47 PM Miners gain because they get paid to do the calculations.
Everybody else gains because these calculations are used to secure the blockchain, without which Bitcoin would be worthless. The blockchain is the ledger of all Bitcoin transactions, and cannot be altered without completely redoing all the calculations used to produce it, which is impossible unless your have more computing power than the rest of the network combined. Due to the massive amount of computing power involved, this is, for all intents and purposes, completely infeasible. |