Where does all the computation power go?

[Gordon_Freeman]

I read somewhere that the bitcoin network is more powerful computationally than the bittorrent network or something like that.  All I've read about what all this processing power achieves is a vague answer of "solving complex math problems".

Can this be explained a little better?  With this much processing power, there is some real good that could be used.  Example: NASA has images of billions of planets from galaxies and uses some state of the art computers to identify which planets might fall in the "Goldilocks Zone", and have a high chance of harbouring life.  If all this power from bitcoin was used to analyze telescopic images from the universe, we would start cataloging planets, mapping galaxies, etc much faster, to everyone's benefit.

P.S. These "newbie" rules are quite annoying.  I saw someone post something that I really wanted to comment on so I joined only to find out I have to write a post somewhere and wait 4 hours... wtf

[Gator-hex]

Current Network Hashrate = 50,841.36 PetaFLOPS

http://bitcoincharts.com/bitcoin/

It's being used to provide currency encryption beyond what any nation state can break.

For comparison..

2013    China NUDT Tianhe-2 33.86 PFLOPS
2012    USA Cray Titan 17.59 PFLOPS
2011    Japan Fujitsu K computer 10.51 PFLOPS

http://en.wikipedia.org/wiki/Supercomputer

Most of it is specialized in SHA256 hashing now though, it's not general computing power anymore.

[Gordon_Freeman]

OK so basically all the network's computing power goes back into encrypting itself in order to prevent compromise?

Thanks, makes perfect sense.

Perhaps one day when it's way beyond anyone's ability to breach it, it could be used for the good of humanity like the example I used.

Anyone have any ideas what else it could be used for?  Such exciting times we live in!! 

[pontiacg5]

As it is now, most all of the hashrate is specialized and can only mine bitcoins. The hardware can't do anything else.

The network also isn't encrypting itself, it's using the pretty statistically consistent odds of the resulting hashes to stabilize and secure the blockchain. It's not possible for everyone to stop yet keep it from being broken.

Although an altcoin could potentially use something like protien folding to secure itself it's pretty unlikely.

[mogrith]

there are some alt coins that are experments in doing useful work. search fore cure coins for one.

at this point there is nothing that uses folding@home or SETI@home directly as work to earn coin. It's too easy to fake doing the work to pay real money for it.

[niothor]

Current Network Hashrate = 50,841.36 PetaFLOPS

http://bitcoincharts.com/bitcoin/

It's being used to provide currency encryption beyond what any nation state can break.

For comparison..

2013    China NUDT Tianhe-2 33.86 PFLOPS
2012    USA Cray Titan 17.59 PFLOPS
2011    Japan Fujitsu K computer 10.51 PFLOPS

http://en.wikipedia.org/wiki/Supercomputer

Most of it is specialized in SHA256 hashing now though, it's not general computing power anymore.

You know that actually the entire bitcoin network is 0.0 Flops , unless there is somebody still cpu mining.