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Author Topic: Mining Bitcoins should be renamed to burying.  (Read 4505 times)
ElectricMucus
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October 31, 2013, 02:03:08 AM
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Basically it goes like this: Mining coal gets something out of the ground that can be turned into electricity.

Generating Bitcoins wastes electricity consuming coal. That coal is then buried inside the blockchain (It's not but the carbon dioxide which was released in the process is there.)
Buring is the opposite of digging, or if you will you have to dig something out first (earth or coal) in order to bury.

So I propose mining should be renamed, or stopped being used to describe generating Bitcoins.
thanks for your attention

your
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October 31, 2013, 05:11:35 AM
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So I propose mining should be renamed, or stopped being used to describe generating Bitcoins.

I agree and while we are at it, we should rename any digging activity like coal mining, gold mining, diamond mining, road digging, grave digging to burying as all of them use some sort of energy mostly electricity.
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October 31, 2013, 07:40:14 AM
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I think it's a bet late to get this changed for some damn political problem you see. Collect over 51% of the clients signatures from the Internet and the change goes through. That's how we work here.
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October 31, 2013, 09:10:48 AM
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I think it's a bet late to get this changed for some damn political problem you see. Collect over 51% of the clients signatures from the Internet and the change goes through. That's how we work here.

No it just has to catch on.


Whoever came up with the term mining anyway? Generating Bitcoins works fine, it's catchy, descriptive and isn't confusing to anybody.
Hell coining or minting would do better.

Btw, I buried a huge turd this morning.

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hayek
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October 31, 2013, 03:59:52 PM
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I think this is dumb
alp
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October 31, 2013, 04:30:31 PM
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Basically it goes like this: Mining coal gets something out of the ground that can be turned into electricity.

Generating Bitcoins wastes electricity consuming coal. That coal is then buried inside the blockchain (It's not but the carbon dioxide which was released in the process is there.)
Buring is the opposite of digging, or if you will you have to dig something out first (earth or coal) in order to bury.

So I propose mining should be renamed, or stopped being used to describe generating Bitcoins.
thanks for your attention

your
Electric Mucus

Mining is not exclusively related to uncovering energy.  Mining gold does not create energy.  Mining iron does not create energy.  Should that be renamed to burying gold?
ElectricMucus
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October 31, 2013, 04:43:12 PM
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I think this is dumb

It's intended to be dumb. That is because it was called the right term all along and this is the only way to highlight how dumb "mining" is.

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October 31, 2013, 04:46:06 PM
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Wait, isn't ElectricMucus one of the Ripple shills?
ElectricMucus
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October 31, 2013, 04:47:44 PM
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Wait, isn't ElectricMucus one of the Ripple shills?

who are you?

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October 31, 2013, 04:50:17 PM
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Wait, isn't ElectricMucus one of the Ripple shills?

who are you?

I used to post in the Ripple threads (Alt-coin section) questioning their system, and I remember some user account with "Mucus" in was always right on time to defend them (Ripple). I might be wrong and it might not be you, just feels like it was especially as you are here now bashing Bitcoin.
ElectricMucus
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October 31, 2013, 05:10:30 PM
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Is this some sort of inquisition?
I made a habit of pointing out ridiculous things about Bitcoin long before ripple came along.   If you don't like how I post there is a bright yellow button at the left that spares you my insights. But then please don't post in my threads.

This thread is not about that though.
It is about how dumb the term "mining" is.  It was called generating Bitcoins at the start, which is a way better term. The introduction post was just my way of pointing that out.

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October 31, 2013, 05:24:28 PM
 #12

Fail thread, mining is for security, not to generate coin. You can generate all the coin you want with a single cpu at difficulty 1. The whole difficulty and mining thing is for security. And security is never cheap.
drawingthesun
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October 31, 2013, 05:25:10 PM
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Is this some sort of inquisition?
I made a habit of pointing out ridiculous things about Bitcoin long before ripple came along.   If you don't like how I post there is a bright yellow button at the left that spares you my insights. But then please don't post in my threads.

This thread is not about that though.
It is about how dumb the term "mining" is.  It was called generating Bitcoins at the start, which is a way better term. The introduction post was just my way of pointing that out.

"Mining" makes more sense to the layman because it invokes the idea of "hard work done" to gain a certain limited resource.

"Generating" does not invoke the same image to most people.

Also many things mined in the real world do not allow for electrical generation by burning or changing. The most obvious analogy being Gold.

We mine Gold for which most is used for jewelry or a store or wealth (use in electrical components is a very small amount of worldwide usage.)

Mining Bitcoins is quite similar to mining Gold with respect to work done to gain a shiny material as a store of wealth.
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October 31, 2013, 05:30:01 PM
 #14


So I propose mining should be renamed, or stopped being used to describe generating Bitcoins.


Request politely declined.

I happen to like the term 'mining' and when I liberate the coins for free use via mining, I'm turning them into bullion or fiat, not burying them like a dog buries a bone making it inert and useless.

Smiley


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October 31, 2013, 06:19:39 PM
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"Mining" makes more sense to the layman because it invokes the idea of "hard work done" to gain a certain limited resource.

But there is no "hard work" being done.  Huh The "miners" simply guess random nonces until one is found that will produce a valid hashed block. It's similar to throwing spaghetti against a wall until one keeps sticking to the wall and declaring that one the winner.
drawingthesun
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October 31, 2013, 06:21:56 PM
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"Mining" makes more sense to the layman because it invokes the idea of "hard work done" to gain a certain limited resource.

But there is no "hard work" being done.  Huh The "miners" simply guess random nonces until one is found that will produce a valid hashed block. It's similar to throwing spaghetti against a wall until one keeps sticking to the wall and declaring that one the winner.

Well the nature of "proof of work" is in computer terms, hard work.

Real mining involves digging and hoping this batch of dirt has the shiny stuff, I can see a very direct analogy here.

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October 31, 2013, 06:24:49 PM
 #17

Generating Bitcoins wastes electricity

No.
Yes it does. I mined solo with my 5850 at a difficulty of 3 million at the time for several months, I didn't find a block. Was that electricity not wasted since I didn't even help the network?

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Gabi
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October 31, 2013, 07:52:50 PM
 #18

Generating Bitcoins wastes electricity

No.
Yes it does. I mined solo with my 5850 at a difficulty of 3 million at the time for several months, I didn't find a block. Was that electricity not wasted since I didn't even help the network?
Actually the system worked perfectly: it stopped a random guy with a 5850 from doing a 51% attack.
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October 31, 2013, 07:58:06 PM
 #19


According to my precise calculations, the number of people who decide to sit at home watching BTC tickers and reading bitcointalk.org vs. jumping in their car and burning fuel to go hiking or something makes Bitcoin deeply carbon-negative.


ElectricMucus
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October 31, 2013, 11:28:06 PM
 #20


According to my precise calculations, the number of people who decide to sit at home watching BTC tickers and reading bitcointalk.org vs. jumping in their car and burning fuel to go hiking or something makes Bitcoin deeply carbon-negative.



Best point yet. But no, that the arms race has lead to viewing it as a heating substitute speaks volumes.

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
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