Post
Topic
Board Mining speculation
Re: 400GH/s - how many BTC can you extract?
by
GODLIKE
on 30/06/2014, 22:35:34 UTC
I know this is a bit off topic but extract is not the right word to use. These bitcoins aren't hidden in lines of code that need to be "extracted" as you make it seem. They are simply created; basically out of nothing. When a miner finds a block, that miner is rewarded 25 bitcoins that are created - and proven to be valid.

Thank you for the explanation but I don't know if there's much to discuss.
If you FIND a block, you were actually LOOKING for something, that's why I use the word "extract".
In fact, you don't really FIND bitcoins, right? They are a reward because you FIND a block.
So you extract them thanks to your mining. Or you get them as a reward.
It's just words I think, there's 2 different POVs here, that's all.

Anyway, what do you think the price will be for this new piece of miner?