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fescuerescue

(4,475 posts)

17. Because it's -------EXTREMELY---- hard to mint bitcoin

Reply to hauckeye (Reply #5)

Thu May 13, 2021, 11:54 AM

May 2021

In the beginning it took 1 average computer 10 minutes to make 1 bitcoin.

Now, because of it's popularity, by design it much much harder.

It now takes the equivalent of 23 trillion average computers to make 6.25 bitcoin in 10 minutes.

Of course computers are much more powerful than in 2009 and there are bitcoin specialized machines.

Today, the average bitcoin farmer has an entire warehouse dedicated to bitcoin farmer. It's all corporate ran now. (vs 2013 when I used a spare bedroom)

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So Elon Musk now no longer accepts bit coin for Tesla purchases because of energy bitcoin uses [View all] JohnSJ May 2021 OP

He wants Dogecoin to rise as Bitcoin falls. PubliusEnigma May 2021 #1

He just sold a ticket to the Moon, paid for with Dogecoin. lagomorph777 May 2021 #4

Exactly. Dogecoin kills the Earth, too. PubliusEnigma May 2021 #19

Cryptocurrency is stupid. Tommy Carcetti May 2021 #2

+1 Bernie Madoff never dreamed of such a successful scheme. lagomorph777 May 2021 #3

I don't understand hauckeye May 2021 #5

I think Elessar Zappa May 2021 #7

You are correct DetroitLegalBeagle May 2021 #8

+1. Electricity needed to mine bitcoin is more than used by 'entire countries' dalton99a May 2021 #10

Bitcoin and cryptocurrencies in general are quite a bit different than electronic banking GregariousGroundhog May 2021 #11

Because it's -------EXTREMELY---- hard to mint bitcoin fescuerescue May 2021 #17

He sold $100 million in Bitcoin last quarter to pad Tesla's profits tinrobot May 2021 #6

Yep. dalton99a May 2021 #9

Well he is still a genius inventor fescuerescue May 2021 #14

He's good and bad. jimfields33 May 2021 #16

Total pump and dump, and now doing it with Doge, with the help of various suckers downstream greenjar_01 May 2021 #12

Yet Dogecoin is simply a clone of bitcoin fescuerescue May 2021 #13

He should hurry up and jump onto one of his Mars rockets struggle4progress May 2021 #15

Crypto confuses me-- dawg day May 2021 #18

Okay, researched a bit- mining actually has a bit of benefit-- dawg day May 2021 #20