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  • 30.10.2019
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Why bitcoin miners are fucking gay

A plain English explanation of Bitcoin mining. Gold has miners because people want gold and it just so happens, unfortunately, that most gold is deep in the earth. Bitcoin has miners because people want bitcoins, but something here seems silly: how did a bunch of bitcoins, the tokens of a man made invention, end up locked up in circumstances demanding mining? When gold is mined, nothing is achieved beyond the discovery of new gold. When bitcoins are mined, however, a valuable service is provided to the Bitcoin network: decentralized transaction recordation and validation.
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Why Bitcoin is Stupid

Why bitcoin miners are fucking gay
Why bitcoin miners are fucking gay
Why bitcoin miners are fucking gay
Why bitcoin miners are fucking gay
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Why Bitcoin is Stupid

Well, shit. It has reached the point that a big percentage of stories in the financial news and questions in Mr. These are all things that people have bought in the past, and driven to completely irrational prices, not because they did anything useful or produced any money and value to society, but solely because they thought they would be able to sell them to someone else for more in the future. Even if you win some money through dumb luck, you have lost some time and life energy, which means you have lost. Noticed this ad on the corner of a website recently … because we ALL need daily updates on an obscure piece of niche software technology! Investing means buying an asset that actually creates products and services and cashflow for an extended period of time.
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What is Bitcoin Mining, and Why is it Necessary?

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