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I don't understand the value of bitcoin mining other than to produce value for its owners. What product is produced for the world? Mining for coal produces coal to be used for energy production. Mining for precious minerals provides metals for use in products all humanity can use. What product does bitcoin mining produce? I originally thought these computations the bitcoin miners were doing were solving some intractable math problem needed for some scientific usage, but as best as I can tell the math is for no other purpose than to generate value for the owner.