Re: [tlug] [OT] Mt.Gox Debacle. Please Comment.

[Christian Horn <chorn@example.com>]

On Thu, Feb 27, 2014 at 07:00:06PM +0900, Stephen J. Turnbull wrote:
> Christian Horn writes:
> 
>  > My wish to a BitCoin2 would be to stop this wasting of resources.
>  > Having cpus all over the world compute without any use makes me feel
>  > bad for the environment.
> 
> Well, there's the famous proverb of John Stuart Mill, "CPUs are rarely
> so harmlessly occupied as when making money."

I think most of the bitcoin-computing CPUs would idle right now,
if they were not doing this.

Whole industies seem to have developed to provide chips to compute
bitcoins.  To my understanding the "difficulty" of the required ope-
rations is rising exponentially.  People buying that hardware and
try to earn money, after some time of usage they have to sell the 
hardware so their overal calculation "to earn money here" gets
fullfilled. 

This all is a prank on the environment..

Christian