Quote from: relative on June 20, 2011, 12:01:36 PM

Quote from: ~~~~~ on June 20, 2011, 11:58:27 AM

A predetermined function over time whose impact on the real world is the employment of physical resources as described above. You're missing the point.

you are changing your argument with each post you make.

Quote

Creating something out of nothing means that you are not bound to the use of any physical resources.

you aren't. you are bound by a function over time/algorithm, and by the fact that everyone agrees to that function by downloading the same bitcoin client.
there are no resources involved in bitcoin creation, aka out of thin air.

by employing resources, you can only make it so that YOU get a bitcoin, instead of someone else.

Believe me, if people could magically create bitcoins by downloading or hacking together an alternate client, they would, and bitcoins wouldn't exist at all. But they can't, the block chain verifies all bitcoin creation, and that's why all these mining rigs (which cost money to build and electricity to operate) are doing useful work by strengthening the block chain, it's not "out of then air", and it's a hell of a lot more legitimate than simply firing up a printing press and printing paper money.

Really though, this thread is getting useless, how don't know how many different ways I can explain the same thing.