Sell Unused CPU processes?

[Ethereal401]

So I came across bitcoin and I did a bit of research.  From what I understand is that bitcoins are backed on nothing but the time used for the cpus to create them. 

When creating bitcoins what exactly are our CPU's processing?  Are we using this processing power like seti@home or foldinghome types of programs?

Lets say a man gets a job digging ditches, he digs 1 ditch an hour and makes $10 USD an hour.  This mans work is turned into a hole in the ground.

When bitcoins program is running it uses cpu power and makes X bitcoins an hour.   What is the CPUs equivalent to a hole in the ground?


Also it seems like since I didn't get into creating bitcoins from the very start it's just not worth my electric bill to create more bitcoins. 



Are there companies that will buy extra CPU or GPU cycles? 

It seems like since these bitcoins are now a functioning working currency backed by time, that a working business model would be to sell processing power based on what people are willing to pay for it in USD, EUR, gold or even bitcoins.

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[Garrett Burgwardt]

http://bitcointalk.org/index.php?topic=3770.0

It's amazing what you'll find with the search tool!

The equivalent to the hole in the ground is the verification and securing of the bitcoin transaction history.

[Ethereal401]

http://bitcointalk.org/index.php?topic=3770.0

It's amazing what you'll find with the search tool!

The equivalent to the hole in the ground is the verification and securing of the bitcoin transaction history.

Do you know of a company that will buy unused cpu cycles?

[byronbb]

pluraprocessing pays game makers to use player's cpu cycles and sells them to institutions who need computing power.

[Alex Beckenham]

Lets say a man gets a job digging ditches, he digs 1 ditch an hour and makes $10 USD an hour.  This mans work is turned into a hole in the ground.

Let's say a second man gets a job filling in holes. He fills in 1 hole an hour and makes $10 an hour. This man's work nullifies the previous man's work, yet $20 worth of 'work' has been paid for.

(Sorry that little rant is probably off-topic with respect to your question)

[Meni Rosenfeld]

From what I understand is that bitcoins are backed on nothing but the time used for the cpus to create them.

Common myth. Bitcoins aren't backed by CPU time, they are backed by merchants willing to trade goods and services for them.

When creating bitcoins what exactly are our CPU's processing?  Are we using this processing power like seti@home or foldinghome types of programs?

The short answer is that the computations are used to secure the Bitcoin network from attack.

Also it seems like since I didn't get into creating bitcoins from the very start it's just not worth my electric bill to create more bitcoins. 

Another myth is that Bitcoin is about getting bitcoins by mining. Mining is a niche activity. You are supposed to use bitcoins as a medium of exchange just like any other currency.

Are there companies that will buy extra CPU or GPU cycles?

Parabon, but they only work with institutions.