28 Sep '14, 8pm

Mining Bitcoin with pencil and paper: 0.67 hashes per day

Understood. I think it's a neat on-paper idea, the blockchain is fairly decent technological concept, but it's not going to change the world. It's a stock that's going to make some people a lot of money and empty the coffers of others. Reality isn't like the novel they lifted the idea from, and bitcoins aren't going to topple world governments and usher in a stateless society as the evangelists froth about when the price is up. Maybe the users would have done better not to conceitedly market it as 'the libertarian currency' because that shut out a lot of people who would have paid to play otherwise.

Full article: http://www.reddit.com/r/technology/comments/2hq3cb/mining...

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