Post
Topic
Board Bitcoin Discussion
Re: All this mining is ultimately meaningless
by
empoweoqwj
on 12/12/2013, 14:39:41 UTC
Ok, so forgive my ignorance here, but am I right in thinking that as a result of Bitcoin and the literally hundreds of alternate currencies springing up daily, we, the human race are using BILLIONS UPON BILLIONS of processing cycles to calculate worthless sums? I say worthless because the hashing is mostly wasted effort, am I right in understanding that?

Surely the logical next step here is to make this ENORMOUS BOTNET calculate something useful? I'm thinking of solving science questions, SETI, fighting cancer, or any other distributed software projects, that kind of thing?

Do any of the alt currencies attempt to tackle this, or are we still a way off actually utilising these CPU/GPU cycles for the good of our species and/the planet.


Perhaps we should ban all those people wasting billions of processing cycles playing XBOX and PS4 games as well? They don't fight cancer either.