Bitcoin hash-rate exceeds total computing power of all the world’s computers

Post by Helianthus » Thu, Feb 06, 2014, 12:05 AM UTC

MiWCryptohn wrote: post #25

Helianthus wrote: post #8

What a waste of time. I haven't given too much weight to criticism of Bitcoin's use of computing resources--there's enough low-hanging fruit--but this is actually somehow reprehensible.

Hardly a waste of time. You haven't seen this for what it truly is; a waste of time is your cash sitting in a clearinghouse for days before going overseas. a waste of time is any value transaction that takes more than minutes on a global scale. A waste of time is when the authorities freeze your accounts and cancel your cards. Cryptocurrency solves these problems and more.

Post by Nursie » Sun, Feb 09, 2014, 12:44 PM UTC

dasil003 wrote: post #21

Nursie wrote: post #19

Earlier quoted context omitted.

It's only required because of the decentralisation fetish of coiners. Perfectly secure systems exist that don't require this lunacy.

First of all, there's no such thing as a perfectly secure system, second of all, you tar people who are interested in decentralization at your own peril. The type of power that is being consolidated in multinational corporations is greater than anything that's ever existed in the history of the world. If we don't want to wake up as serfs one day we should be taking decentralization and other technological democratic…