how does

Go look at the hash rate

bitcoin mining work?

You complete maths

wouldn't that inflate the currency if a random person could do it

As said, ultimately the concern is power consumption per coin.

There’s a very low supply of bitcoin

Not if you take up several thousand dollars in electricity to do it

And more people trying to mine it

High demand, low supply

The required processing power escalates.

oh

still confused

Shit seems redundant to me but I'm probably biased because I have nightmares of upgrading my GPU because crypto fucks kept buying out all the GPUs and driving up demand and price.

Heat your house with the exhaust from your computer

oh fug oh shit

@Weez can you give me a tldr video for mining

So getting your compy to do math requires power.

crash when

I’m on mobile sorry

might be a nice way to get extra neetbucks

@Cowlitz every page in the ledger of bitcoin has a math quiz tied to it, so solving the problem = bookkeeping

uh

yes

It’s a shame that the calculations aren’t useful for something

a jap invented it

Like science or some shit

Wrong

true

then again we have plenty of that already

Tbh, what is the endgame of bitcoin

It’s likely an Anglo

Based on his language

@Dr. Blitz, Ph.D. a banking system that doesnt have banks

ok cool

Cash it out like stock lol

thanks chief

andrew jackson would be proud

Unregulated currency

Pure and simple

tied to regulated currency tho

No intervention

because the bookkeeping is from everyone solving math quiz

no banks

That woulda been nifty if the crypto currency was tied to scientific problems.

The idea was, it could replace it. @SageTheory

But that defeats the purpose.

what if we used

Not really

a quantum computer

Some currencies do that

People keep treating crypto as stock tho instead of actual currency.

Soz, because science problems are unlimited.

and calculate in qubits

quantum computer are stil in its infancy

at least from what I've seen.

but once it's here

just a what if

Then you could earn a full bitcoin

Quantum comps are still limited today

give it 10 years

well lets just say a lot of theory needs to be fucked over

You would still be limited by the low supply of new bitcoins

yeah

it's genius

bitcoin's droprate decreases as it is mined

there is literally a limit to the stuff

^

Bitcoin is literally just hypecash

World bank BTFO

blitz

limited supply, high as balls demand

ALL cash is hype cash

^

All cash pays my bills tho and feeds me. Bitcoin doesn't unless I convert it into real currency.

shits too early to be effective.

The one thing about the President's point about the USD.. whilst I wish it were true.

It's fiat, too.

yup

The issue with bitcoin is its volatility

And BC is closer to supply limited currency.

Which means people are less likely to adopt it

So it’s harder for it to replace the USD

bitcoin rn is more akin to goods, like gold

Yeah that’s probably accurate

at anyrate it doesnt need to replace USD

it's mere existance helps the marketplace

As said earlier, it's a commodity at this point.

Bitcoin is worthless

are you turboniggers aware of the wonderful, colorful and totally real story of bloodsports/kumite? no, not the autistic shit flinging streams that base themselves on, but the 80s action movie and the supposedly real and totally true story behind it?

Thank fuck that fad is over

So's the dollar. @Medeyer

It’s not over

Lmao

I dunno my dude pretty skeptical until I see more from it.

It is over

So's the euro.

bitcoin will prevail, but this is not its time

it's literally not worthless

So's the pound.