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RE: Mining Bitcoin & Ethereum @ home: let the beast go!

in #technology8 years ago

Wow. The second part that article got a bit heavy there but cryptocurrency definitely is on the way in. There are some who say that paper currency is about to fall apart, one reason being that ALL countries are using quantitave easing to get through our moeny problems at the moment. Apparently, this devalues whatever money is already in circulation. So the 'centralised' system is doing something that we really can't influence. The decentralised' cryptocurrency (Bitcoin, Fuel coin etc) are all on other people's computers throught the world and so I don't believe this can be done. Quantitative easing, that is. I mean, this is done by a government, but they can't touch the decentralised currencies. Apparently, more and more BTC (bitcoin) is being mined, which, if I'm right, slowly brings down the value of BTC over time. FuelCoin on the other hand, has produced all the currency that will ever be produced, right at the start i.e that mining took place at the start of the process. Not a lot of people know that BTC is listed on the financial markets, and I know that it is being accepted in places like Starbucks in the UK. Yes, you can pay for a cup of coffee with BTC. Yep, you're right. It is a fascinating development. I heard somebody say the other day, that cryptocurrency is a bigger development than the internet starting off. Time will tell.

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@paulpuk2000: I know the second part is more technical. I wanted to write a story of how it felt to me working on the whole cryptocurrency thing and learning as I went. So it's a bit of a personal story. The technical part is for the people who want to jump in and start to mine as well.

@omnicron. Sure, I get that. Just saying that's all. Feel free to upvote my comment if you think my comment had some value. Let's keep in touch on this cryptocurrency thing !