Post
Topic
Board Bitcoin Discussion
Re: My criticism of BitCoin
by
edric
on 25/07/2015, 03:56:55 UTC


1. The whole idea that someone can turn on his computer/GPU and "bit mine" and earn money is ridiculous.
People should earn money when they work hard for it. Turning on a computer and leaving it to run does not and should not count.
This is a waste of electricity as well and therefore it causes greenhouse gases and has a carbon footprint.


How is a computer producing currency much different than a central bank using a fractional reserve credit brokering system?  The only difference is that bitcoin has a finite limit of supply.  A central bank currency will inflate infinitely.