Hello all!
I've tried and tried to search for an answer for this question...problem is, I think I'm asking the wrong question lol. But here goes:
***What is being "mined" when you mine?***
I know there are algorithms involved, but are generic/fabricated algorithms created specifically for the mining of BitCoins? ...if so, who creates these algorithms? Is "BitCoin" mining the equivalent of busy-work that fundamentally does nothing except generate an online currency?
And these algorithm aren't created specifically for Bitcoin...where do they come from? This may sound silly here, but are we using our combined processing powers to unknowingly help decrypt a code somewhere lol?
Thank you for your patience and tolerance for what must appear to a non-newbie as rather silly questions :-)
mining is only solving blocks, it is not helping to crack codes or benefiting science etc
there are some coins like primecoin that help to solve prime numbers through mining