21 Apr '13, 3pm

Bitcoin's Last Mile Problem

Joey DeVilla was (and still is) one of my favorite bloggers. Calling himself the Accordian Guy, Joey has been writing cool stuff for most of this decade, and he recently hopped on the bitcoin train by posting a long how-to in the vein of my own guide to mining . His is quite thorough in his process, but it sets an old HP all-in-one to the task, which resulting in very slow mining speeds and, as a result, a tangible waste of resources, including time, energy and computer wear. For all his hard work, Joey saw between 3.4 and 4.4 cents. He also notes that his post, on his acceptably trafficked site with about 6,000 pageviews a day, netted him about $40 in advertising money. He made more money writing the post – which arguably took more work – than bitcoin mining. Bitcoin is the perfect expression of Internet riches. It seems free (but isn’t), is easy to enter (but hard to mai...

Full article: http://techcrunch.com/2013/04/21/bitcoin-last-mile/

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