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To: TheThirdRuffian

What exactly did you “mine”? What (if anything) of value was created?


13 posted on 04/08/2026 6:19:12 AM PDT by Blurb2350 (posted from my 1500-watt blow dryer)
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To: Blurb2350; All

They way it was explained to me was like this.

Let’s say a typical mine operator digs up a gold nugget worth $$$. During the boat ride back, it falls overboard.

So everyone agrees it’s still his nugget, but its physical location is not relevant.

He can sell his ownership to another.

So, mining BITCOIN is the same.

See?


14 posted on 04/08/2026 6:26:39 AM PDT by Mr. K (no i think 10%consequence of repealing obamacare is worse than obamacare itself.)
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To: Blurb2350

It’s just a computer file of no value whatsoever except it is unique, of finite supply, and easily exchanged.

The entire idea was a theoretical discussion about the nature of a fiat currency.

The fact that it became a real currency was wholly accidental.


29 posted on 04/08/2026 12:32:55 PM PDT by TheThirdRuffian (Orange is the new brown)
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