Bitcoin Forum
November 19, 2017, 02:13:03 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Computing Power  (Read 346 times)
serioussam
Newbie
*
Offline Offline

Activity: 6



View Profile
April 08, 2013, 12:10:04 PM
 #1

Does enyone know were all the computing power goes? who gains from all these computer calculating?
1511057583
Hero Member
*
Offline Offline

Posts: 1511057583

View Profile Personal Message (Offline)

Ignore
1511057583
Reply with quote  #2

1511057583
Report to moderator
Coinlancer is Disrupting the Freelance marketplace!
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1511057583
Hero Member
*
Offline Offline

Posts: 1511057583

View Profile Personal Message (Offline)

Ignore
1511057583
Reply with quote  #2

1511057583
Report to moderator
1511057583
Hero Member
*
Offline Offline

Posts: 1511057583

View Profile Personal Message (Offline)

Ignore
1511057583
Reply with quote  #2

1511057583
Report to moderator
1511057583
Hero Member
*
Offline Offline

Posts: 1511057583

View Profile Personal Message (Offline)

Ignore
1511057583
Reply with quote  #2

1511057583
Report to moderator
dmphotog
Newbie
*
Offline Offline

Activity: 17



View Profile
April 08, 2013, 12:19:58 PM
 #2

good question my friend.  It is probably all part of some clowdware that someone else is leasing the rights to for big $$$. 
maxmint
Hero Member
*****
Offline Offline

Activity: 700



View Profile
April 08, 2013, 12:21:08 PM
 #3

The computing power solely goes into securing the block chain and transactions.

My PGP-Key: 462D02D8
Verify my messages using keybase: https://keybase.io/maxmint
wopwop
Sr. Member
****
Offline Offline

Activity: 252



View Profile
April 08, 2013, 12:21:14 PM
 #4

the miners win this game called bitcoin

i told you the truth of bitcoin

now run
serioussam
Newbie
*
Offline Offline

Activity: 6



View Profile
April 08, 2013, 12:24:16 PM
 #5

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
maxmint
Hero Member
*****
Offline Offline

Activity: 700



View Profile
April 08, 2013, 12:27:44 PM
 #6

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

My PGP-Key: 462D02D8
Verify my messages using keybase: https://keybase.io/maxmint
Foxpup
Legendary
*
Online Online

Activity: 2016



View Profile
April 08, 2013, 01:11:47 PM
 #7

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.

Will pretend to do unverifiable things (while actually eating an enchilada-style burrito) for bitcoins: 1K6d1EviQKX3SVKjPYmJGyWBb1avbmCFM4
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!