No matter what you can build in your basement that could “mine” “bitcoin”, Gates could build a million of them at the same time.
Maybe you can’t make any bitcoins, but if you could, Gates could make a lot more.
If you couldn’t make a dent in bitcoins, it wouldn’t be the case that bots could be profitably mining bitcoins.
Why would anybody ever build a single computer to mine bitcoins if, as you insist, you can’t make a dent with 50 supercomputers?
Up until now this conversation has made sense, but what you are saying now doesn’t mesh with everything I’ve read about bitcoins.
If you told me that bitcoins are like the lottery, it would still be true that the guy who can buy a million tickets has a better chance of winning than the guy who struggles to buy one.
Although I think your complaint is that there are so many computers currently working together on bitcoin that adding one computer can’t make much difference.
But if that were true, then you couldn’t explain why people would build a computer to do bitcoin. If it makes money to create a computer to do bitcoin, creating a thousand will make a thousand times more, at least for the millisecond it takes for that addition to bump up the difficulty.
Maybe though you are just agreeing with those who say that the time to mine bitcoins is past, because we’ve reached the point in the difficulty curve where anything you add to try to make more just drives up the difficulty to where the effort was a waste.
But what doesn’t make sense is to claim that you, in your basement, can profitably work to make a miner, but that 1000 other people could not do so at the same time; or one person with 1000 times the resources you have.
25 Bitcoins issued per block. Bitcoin is not the only cryptocurrency being mined.
There are industrial players mining Bitcoin because they are so valuable. The time for mining Bitcoin is way passed for the individual.
There is an entire ecosystem being built right under your feet but you can’t see it. Just as with your inability to envision networked home appliances. Just because you don’t see it coming doesn’t that it is not coming. Beleive me FRiend, it’s coming.
You said:
“Although I think your complaint is that there are so many computers currently working together on bitcoin that adding one computer can’t make much difference.”
I have no complaints, I’m a volunteer not a victim.