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To: BenLurkin
Dumb question: Who issued the Bitcoins in the first place?

Anyone with a computer can issue a bitcoin.

Another dumb question: What’s to stop that person from issuing more?

It takes a LOT of processing time to generate a bitcoin. On my machine it would take about a year of calculations to solve the algorithm needed to generate a single bitcoin.

There are also a limited number of possible solutions to the algorithm, that sets a cap on the total number of bitcoins that can exist.

14 posted on 12/05/2013 8:34:24 AM PST by null and void (I'm betting on an Obama Trifecta: A Nobel Peace Prize, an Impeachment, AND a War Crimes Trial...)
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To: null and void

“On my machine it would take about a year of calculations to solve the algorithm needed to generate a single bitcoin. “

I.E. It takes a year of absolute wasted CPU cycles (and more in electric bills) to produce one of these worthless pieces of crap.

Here’s a better idea. Download folding@home or SETI@home and at least provide scientifically valuable computations to posterity. Maybe your CPU cycles will be the ones that find a cure for cancer.


62 posted on 12/05/2013 5:42:17 PM PST by bolobaby
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