You solve an algorithm and get a number out, the number is then checked against some control. It's either a hit or not, if it's a hit you've got yourself a bitcoin, then you keep solving for new numbers.
As numbers get "taken" it gets progressively more work to find the next correct number. Finding new ones will slow and eventually seize altogether - at least I am fairly sure it's made to be finite. So mining bitcoins were easier at the start but will progressively get harder, requiring more and more calculation and wasted energy to do.
Anyway, once you have your bitcoing you can pay cryptolocker ransom and buy heroin for it which is handy.
A key piece of info here: as your computer solves the math problem to generate new coins, it's also being used as part of the distributed network to record transactions. So you're being "paid" to lend your computer to the network by getting new currency. The currency works because transactions are recorded and verified by everyone. It's decentralized, so no single entity has control, so you want lots of people lending their computers to it. You need to pay them to do it, and you pay them in new coins.
the math is set up so that coins get harder to produce over time, so as more and more machines join the network and make coins, it takes longer and longer for any single machine to do it.
can you feel the struggle within?
+1
Havelock3.0What are you?Some kind of half-assed astronaut?Registered Userregular
Geth, hard reboot
You go in the cage, cage goes in the water, you go in the water. Shark's in the water, our shark.
HonkHonk is this poster.Registered User, __BANNED USERSregular
And about the value, you could argue there's at least rarity there given how it's set up. But it's still just speculation based and not backed by anyone or anything.
If I got a critical mass of people behind using my post-it smiley doodles as currency it could basically become the next big thing.
Thor is angry at my area right now. Just had lightning strike the park next to me I think and the thunder was so loud it freaked out my dog who normally ignores it.
0
BeNarwhalThe Work Left UnfinishedRegistered Userregular
To make me sound slightly less crazy, the bus I took only ran every 20 minutes and I had never ridden it before so I didn't want to trust the timetable 100% >_>
0
simonwolfi can feel a differencetoday, a differenceRegistered Userregular
Thor is angry at my area right now. Just had lightning strike the park next to me I think and the thunder was so loud it freaked out my dog who normally ignores it.
This has been a horrible summer and I would like it to end.
Dark Raven XLaugh hard, run fast,be kindRegistered Userregular
Just finished up the God Butcher storyline from the Thor comics a couple years ago. Marvel Unlimited is good times.
Yo Thor comics are great.
it's set across three timelines, young babby unworthy Thor, Avenger Thor, and the one eyed, metal armed future King Thor, wielder of the Thorforce, which they renamed because he's had it longer than Odin.
At one point Avenger Thor grabs King Thor's hemma and dual wields them. He slams them together to make thunder.
Thor is angry at my area right now. Just had lightning strike the park next to me I think and the thunder was so loud it freaked out my dog who normally ignores it.
This has been a horrible summer and I would like it to end.
I did 5 miles in it today since I was in DC for a class.
It was gross. I did wear shorts. I gave no shits.
+1
AtomikaLive fast and get fucked or whateverRegistered Userregular
i do not know what the fuck happened in my flat but i just came back and the ceiling in every room is crawling with small flies
i've been here for over 6 months now and during that time most the windows have been open on vent to let air in more or less constantly and this has never happened
its like someone unleashed a goddamn old testament curse in here im not even sure where to begin
+9
Nova_CI have the needThe need for speedRegistered Userregular
i do not know what the fuck happened in my flat but i just came back and the ceiling in every room is crawling with small flies
i've been here for over 6 months now and during that time most the windows have been open on vent to let air in more or less constantly and this has never happened
its like someone unleashed a goddamn old testament curse in here im not even sure where to begin
Acquire goats blood
Draw pentagram
Drink goats blood while in pentagram
+3
Powerpuppiesdrinking coffee in themountain cabinRegistered Userregular
Posts
but they're listening to every word I say
A key piece of info here: as your computer solves the math problem to generate new coins, it's also being used as part of the distributed network to record transactions. So you're being "paid" to lend your computer to the network by getting new currency. The currency works because transactions are recorded and verified by everyone. It's decentralized, so no single entity has control, so you want lots of people lending their computers to it. You need to pay them to do it, and you pay them in new coins.
the math is set up so that coins get harder to produce over time, so as more and more machines join the network and make coins, it takes longer and longer for any single machine to do it.
If I got a critical mass of people behind using my post-it smiley doodles as currency it could basically become the next big thing.
And you can take AR pictures with them.
Check out my site, the Bismuth Heart | My Twitter
I am at the train station 45 minutes early
I am a good boy
This seems like it's pretty fucked up
That's at least three too many.
This has been a horrible summer and I would like it to end.
but they're listening to every word I say
Emergency [chat] Protocol 7-B
combined with its battery life and the silent switch no longer functioning maybe it is time I think about looking for a new one
Hey chat
Hey
How’s it going
This is my last resort
I'm alright
How on fire is your skin feeling?
Yo Thor comics are great.
At one point Avenger Thor grabs King Thor's hemma and dual wields them. He slams them together to make thunder.
I got a little excited when I saw your ship.
I’ve been lidocaine’d so it’s all good, son
Regardless, I’d love a prequel series about their wacky adventures filled with friendship and bravado leading to poor decision-making
Admiral Holdo cartoon when
Check out my site, the Bismuth Heart | My Twitter
DUH duh.... DUH duh....DUH duh...DUH duh DUH duh DUH duh....
I did 5 miles in it today since I was in DC for a class.
It was gross. I did wear shorts. I gave no shits.
Her series would be fairly rote and full of responsibility and dutiful sacrifice
Admiral Hondo, however, would be awesome.
i do not know what the fuck happened in my flat but i just came back and the ceiling in every room is crawling with small flies
i've been here for over 6 months now and during that time most the windows have been open on vent to let air in more or less constantly and this has never happened
its like someone unleashed a goddamn old testament curse in here im not even sure where to begin
Acquire goats blood
Draw pentagram
Drink goats blood while in pentagram