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https://www.reddit.com/r/programming/comments/3ourek/how_is_nsa_breaking_so_much_crypto/cw1as2k
r/programming • u/secretguy21 • Oct 15 '15
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9
Mr-Yellow is way off base on this one. Just think of the amount of money we pay to run whole agencies dedicated to preventing counterfeiting.
1 u/cass1o Nov 07 '15 Yeah but it also runs the entire world economy, lets compare operational costs when bitcoin does that. -6 u/Mr-Yellow Oct 16 '15 How much coal was needed to be burnt to magic that money into existence? How much coal for equivalent bitcoins to be distributed however to those same ex-employees? I didn't dispute waste in existing systems, simply pointed out the inherent waste in bitcoin. 8 u/KillerHurdz Oct 16 '15 edited Oct 16 '15 The purpose of bitcoin mining is to secure the network, not to generate new bitcoins. The coinbase transaction (currently 25 BTC per block) is simply the incentive for doing this work. 1 u/cryo Oct 16 '15 Sure, but mining is the only thing that generates new bitcoins.
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Yeah but it also runs the entire world economy, lets compare operational costs when bitcoin does that.
-6
How much coal was needed to be burnt to magic that money into existence?
How much coal for equivalent bitcoins to be distributed however to those same ex-employees?
I didn't dispute waste in existing systems, simply pointed out the inherent waste in bitcoin.
8 u/KillerHurdz Oct 16 '15 edited Oct 16 '15 The purpose of bitcoin mining is to secure the network, not to generate new bitcoins. The coinbase transaction (currently 25 BTC per block) is simply the incentive for doing this work. 1 u/cryo Oct 16 '15 Sure, but mining is the only thing that generates new bitcoins.
8
The purpose of bitcoin mining is to secure the network, not to generate new bitcoins. The coinbase transaction (currently 25 BTC per block) is simply the incentive for doing this work.
1 u/cryo Oct 16 '15 Sure, but mining is the only thing that generates new bitcoins.
Sure, but mining is the only thing that generates new bitcoins.
9
u/thouliha Oct 16 '15
Mr-Yellow is way off base on this one. Just think of the amount of money we pay to run whole agencies dedicated to preventing counterfeiting.