Well, if it walks and talks like a pump & dump scheme ...
There are no math answers to give (as there are in, say, the GIMPS project)... this is just gratuitous CPU burdening for it's own sake. I have been to a couple of the Bitcoin Club meetings at MIT and I still don't get it... seems to me to be a currency musical chairs; you don't want to be holding this currency when the bottom drops out again... there is another one this Friday if you are interested... I still go even though I still haven't figured out what the hubbub is all about.
At 10:33 AM 4/17/2013, Greg London wrote:
>> Bitcoin has been all over the news this past week. I don't understand. It sounds like someone set up a company to trade in virtual money, and all I have to do to mint my own money is do some math? I do some math, show them the answer, and they... do what? They give me money? They act as a trader and take a commission off on anyone trading money? Can someone explain how this works at the transaction level?
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