Topic: Seriously late to the game which not seems like a repeat or actual currency (Read 361 times)
April 06, 2013, 12:25:05 PM
So Bitcoin welfare? The purpose of mining is to secure the network, we want the most security possible and a free market is the best way to accomplish that. The fact that miners receive compensation is merely the incentive to secure the network. There is no decentralized method that could be used to limit individuals. Very easy for a single 1TH/s farm to look like 1000 "individual" 1 GH/s rigs given the decentralized and psuedo-anonymous nature of Bitcoin. Even if it could be done essentially it would be artificially lowering hashing power and thus network security. Not a whole lot of value in doing that.
April 06, 2013, 12:20:01 PM
Lolwut? Bitcoin is not a get rich quick scheme.
April 06, 2013, 12:08:11 PM
Man, I started mining only a week ago (or two) and feel seriously late to the game. I don't have money or anything to buy bitcoins, so I'm just mining what I can on my existing rigs, but they suck. I'm guessing once ASICs come out, I'm pretty much screwed and the measly 0.02 BTC I mine every day will turn into 0.0000002. Too bad the mining is rigged in a way that folks can do this, a better method would have been to limit the computing ability to give everyone an equal opportunity to the Bitcoins wouldn't end up in the hands of a select few... IMHO of course...
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