Sunday, 12 June 2011

Bitcoin

I was chatting in IRC a few days ago when someone told me about 'Bitcoin'.
It's basically a de-centralised e-currency. You can earn these 'Bitcoins' by either using your computer's spare CPU/GPU cycles to work together in 'pools' of computers to solve a puzzle. Coins are then divided between everyone in the pool based upon how many cycles they put into the pool.
Of course, this isn't the only way of earning bitcoins, you can also do jobs for people just like any other currency. Because it's de-centralized, no cut is taken and coins are transferred directly between people.
I'd like to hear people's opinions on this, because I'm not entirely sure if it's worth it or not.
Here is a link to their site where you can learn more: http://www.weusecoins.com/

12 comments:

  1. Heard they were the currency of the deepnet.

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  2. Not worth the efford now.
    Currency too high..

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  3. I wasn't aware that you could earn them, I thought the only method was to buy/sell them. I'll have to give it a look, I hear a lot of people I know that play eve mention them.

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  4. I'd really like to find more out about this currency. See what else you can dig up and do another post on it!

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  5. I don't think something like this could work...

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  6. I heard about this for a while, is this a good idea? Should I be doing this?

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  7. Takes to much GPU effort imo. and I dont see this paying off in the long run.

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  8. How difficult is it to set up your computer to earn Bitcoins? Perhaps a tutorial is in order?

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  9. Oh great, just what we need more currency that is worthless outside of the realm of the internet! Really, it's worthless if you can't directly convert it into $, £, €, or ¥ at a bank.

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