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To: logicalthinking

So, who is the issuer that gets the money for the bitcoins?

This is an internet version of a very old scam, typically inflicted on libertarians.


6 posted on 06/01/2011 3:13:17 PM PDT by Jewbacca (The residents of Iroquois territory may not determine whether Jews may live in Jerusalem.)
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To: Jewbacca
So, who is the issuer that gets the money for the bitcoins?

As I understand it they are created by solving a computational problem. The problems get asymptotically more difficult as more are solved. There are supposed to be a total of somewhere around 26 million that can ever be created.

Electricity wise for running a server it is currently close to the market cost of a bit coin.

23 posted on 06/01/2011 4:25:26 PM PDT by glorgau
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