- Mar 16, 2005
Actually, it's getting harder and harder... Some exchanges ran out of bitcoins and had to go into discovery mode to find some, which is sporadic at best like we saw earlier today.Ah, fuck it. Go buy some more Bitcoin at $19,000, it can only go up from here!
I thought I was crazy when I bought more at $9.5k last week. Gravy train...Ah, fuck it. Go buy some more Bitcoin at $19,000, it can only go up from here!
It is like reading the bitcoin wiki.Imagine trying to signal a message to someone using the closing price of the DOW as the mechanism to seed a hash algorithm. You'd have to buy/sell every day to try and force it to come out to an exact predetermined number. If you were off by a penny, the message is indecipherable. But even if you have billions in reserve, there's no way you could succeed even a small percentage of the time, even a small number of transactions outside of your control would make the effort pointless. That's what it would be like trying to "hijack" the BTC mining network.
edit: The last sentence, they forget to conveniently mention the scale of operations when comparing global monetary systems with bitcoin operations.Is mining used for some useful computation?
The computations done when mining are internal to Bitcoin and not related to any other distributed computing projects. They serve the purpose of securing the Bitcoin network, which is useful.
Is it not a waste of energy?
Spending energy on creating and securing a free monetary system is hardly a waste. Also, services necessary for the operation of currently widespread monetary systems, such as banks and credit card companies, also spend energy, arguably more than Bitcoin would.
Nice, I should have bought more when it dropped down to $13.5k and it's back over $15k now.Saw it drop to $13,888 and decided to throw $5k into it. By the time I did that it was back at $14,111. I'm in for the ride now!
The only problem now is that I am looking at coinbase like 100 times already todayNice, I should have bought more when it dropped down to $13.5k and it's back over $15k now.
Aww here it goes...Even with servers crashing futures are hitting long % limit suspending futures trading. Beautiful, just beautiful.