On 15 December 2013 09:33, LizR <lizj...@gmail.com> wrote:
> Bitcoins are apparently based on long and complex calculations rather than
> "just nothing". I work with a guy who manufactures bitcoins and heats his
> house with the computer power required - or so he says. It sounds a
> ridiculous waste of power, time and effort, but he's probably autistic or
> something similar, so admittedly behaviour that seems weird to me isn't
> unusual for him.

It's not just the guy you work with - bitcoin mining is major business
now that the coins sell for around $1000 each.

http://www.businessinsider.com.au/bitcoin-mining-is-booming-chart-2013-12

The nature of the bitcoin protocol is such that the cost of mining is
close to the bitcoin price. It may be wasteful, but perhaps no more
wasteful than the resources spent mining gold, let alone the vast sums
wasted the current financial system, which some proponents claim
cryptocurrencies may eventually partly supplant.


-- 
Stathis Papaioannou

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