Post
Topic
Board Bitcoin Discussion
Re: [BREAKING NEWS]: Putin getting ready to kick Bitmain's ass
by
cryptocointrading
on 09/08/2017, 18:54:29 UTC
Yey more bitcoin miners. (insert sarcasm here)
To be honest, bitcoin mining is wasteful and it totally just doesn't do anything else but produce, well, bitcoins. Just think about it, a miner just mines bitcoins and nothing else really. It just tries to create digital gold which is totally useless in practical use but we value it based on how much we want to pay for it (supply and demand). No, russia has so much excess power, so why not just sell it to industries that will totally make use of it in better things. Though don't get me wrong, I love bitcoins. I really believe this is the future, but not how it is acquired.

The first stage is to get an economy of people going that actually mine, the second stage is to use that foundation and only use it for useful things = calculating transactions, for now that is a side earning but with ever increasing difficulty it will soon become the main source of income for miners