What if Bitcoin Mining is a Cover?

[mprep]

Bitcoin codes was opensourced and was reviewed thousands times by thousands of programmers across the world. no chance that this would happen.

I can second that. It seems that some people can't accept the easiest explanation.

[Peter Lambert]

Slightly off subject, but would it be possible to create a cryptocurrency where the hashing could serve a benefit?  Like getting ???coin for running a program similar to folding@home (http://folding.stanford.edu/) or world community grid (http://www.worldcommunitygrid.org/) or even SETI@home (http://setiathome.berkeley.edu/).

I'm greedy and interested BTC because I believe there could be profit for me.  But I think of all the money spent, electricity used and hash power of the network and it would be cool to see it going towards improving something.

This has been asked many times, and the answer is NO. What the bitcoin mining is doing is creating a verifiable and secure record of all transactions, it is not just wasted processing power.

And +1 to the posters above that the source is open and anybody can read it. You would think somebody would have noticed in the four years this has been running if there was secret data being transfered to a government agency or if the hashing was cracking passwords. Also remember that when this started people were getting 50 btc per block, which was worth about 0.025 USD, when they finally started being traded for stuff (I calculated that based on the 40000 btc for 2 pizza so ~20 USD).

[HongkongShanghaiBitCoin]

Nakamoto, SAtoshi

The clues were always there, people don't wanna see it...

ROFL that's a good one.

[a1phanumrc]

Oh come on, the tinfoilhat land is fun sometimes. 

[mprep]

Oh come on, the tinfoilhat land is fun sometimes. 

I guess but when that repeats several hundreds of times, it simply gets old.

[a1phanumrc]

Oh come on, the tinfoilhat land is fun sometimes. 

I guess but when that repeats several hundreds of times, it simply gets old.

I suppose it would. I've been away for a few years so I had to have my bit of fun.

[mprep]

Oh come on, the tinfoilhat land is fun sometimes. 

I guess but when that repeats several hundreds of times, it simply gets old.

I suppose it would. I've been away for a few years so I had to have my bit of fun.

I've been away for a while too. When I left bitcoin was worth 10 bucks. But spending a couple of hours here makes it kind of irritating to see all the theories.

[Rockdog2877]

Posts in the newbies section tend to be irritating  at times.

[a1phanumrc]

I've been away for a while too. When I left bitcoin was worth 10 bucks. But spending a couple of hours here makes it kind of irritating to see all the theories.

Did the exact same thing. Thought it was doomed and walked away. Guess I was wrong on that one.

But ya, very interesting to see how this place has changed... and the incredible amount of scammers.

I don't remember this being as much a problem before. Yikes.

[mprep]

I've been away for a while too. When I left bitcoin was worth 10 bucks. But spending a couple of hours here makes it kind of irritating to see all the theories.

Did the exact same thing. Thought it was doomed and walked away. Guess I was wrong on that one.

But ya, very interesting to see how this place has changed... and the incredible amount of scammers.

I don't remember this being as much a problem before. Yikes.

I actually walked away because I just suddenly lost interest. After a while it came back, so did I.

[Rampion]

Excellent point. who knows what that program is really doing.

LOL, stupidity.

Check the code, it's open source

And if you cannot read code at least read books, at least you would stop asking dumb questions.

[Peter Lambert]

I've been away for a while too. When I left bitcoin was worth 10 bucks. But spending a couple of hours here makes it kind of irritating to see all the theories.

Did the exact same thing. Thought it was doomed and walked away. Guess I was wrong on that one.

But ya, very interesting to see how this place has changed... and the incredible amount of scammers.

I don't remember this being as much a problem before. Yikes.

There have always been scammers. I think we are better now at labeling the scammers as such, so they seem more numerous, but it is really just that they are more obvious now.

[cmandeiro]

Maybe but i really don't think so

[cWq34#9tH-3]

Here is the source code : https://github.com/bitcoin/bitcoin

Read it and comprehend it, then stop posting this conspiracy bullshit,

Have you read it? All of it? And do you know what all of that code means and exactly what those functions do? Did you see the below code?

<function=keyword scan, compress, upload to PRISM server>Run background, hidden)

[Gabi]

If you don't trust the client: write your own

If you don't trust the miner: write your own

[tinus42]

Nakamoto, SAtoshi

The clues were always there, people don't wanna see it...

Maybe it's NASA (NAkamoto SAtoshi) using the hashing power of both Bitcoin and SETI@Home to hide the existance of aliens together with the Men in Black.

[cWq34#9tH-3]

If you don't trust the client: write your own

If you don't trust the miner: write your own

Nope, not gonna let that pass. It's a cop-out. The point that's been made is that it's open-source so anybody could read and verify the code. So my asking if anyone has read it, that is absolutely a fair and reasonable question.

[counter]

What if the sky is falling.

[cWq34#9tH-3]

that is a fair question and you know it. No tinfoil hat needed. Are you not aware of recent history?

[Rampion]

If you don't trust the client: write your own

If you don't trust the miner: write your own

Nope, not gonna let that pass. It's a cop-out. The point that's been made is that it's open-source so anybody could read and verify the code. So my asking if anyone has read it, that is absolutely a fair and reasonable question.

Yes. Dozens of people on these forums, on a regular basis.