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RE: What creates the value of Bitcoin and other cryptocurrencies?

in #bitcoin8 years ago

I'm interested in bitcoin and some altcoins, and to me, it seems a waste that all that computing power is going to waste. I know for btc this wastage is viewed as a positive, but is it possible to use btc network to figure out problems like curecoin, but instead of using curecoin, use a bit-token (called curetoken) backed by bitcoin and usable on the bitcoin network to figure out some of the protein problems? So by using a curetoken, you could buy and sell bitcoin or which could then be used to buy or sell other coins/fiat. I mean bitcoin network is huge. It bigger than the top 500 supercomputers. Seems like a waste.

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well, remember that the computing power also requires a ton of electricity, so when it's not being used for computing, it's probably being used elsewhere