Post text: "Imagine a digital commodity-like currency that depends on no central authority or printing press; it being completely generated and managed by only the people." "It's called Bitcoin, an open-source MIT-licensed project created by Satoshi Nakamoto. Bitcoin is cryptographically and collectively managed by voluntary nodes on the Bitcoin network. Coins are generated by CPU power and become harder to generate as it reaches its finite limit of 21 million coins. Right now a coin is worth around 6 cents, which fluctuates mostly with the cost of energy to generate them." And it got only 13 comments, top one being: " you have to waste electricity to make money. I find the idea rather stupid ... ". [link] [comments] |
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