Linked Questions

13
votes
4answers
7k views

Why can't we design a bitcoin that does useful work? [duplicate]

The bitcoin network, including every miner, is the biggest computing project that humanity has created. Thus I ask: why, instead of using it to generate useless data, don't we use it to generate ...
3
votes
3answers
3k views

Merge Bitcoin Mining with Fold at Home! [duplicate]

I am new, but have a big idea about bitcoin. There is a distributed computing project known as Fold at Home. What if its software were used for the generation of something instead of for a menial, ...
1
vote
4answers
356 views

What is the useful work done during the mining of Bitcoin? [duplicate]

What is the work that the computer performs while it does Bitcoin mining? Is it useful work in any case?
-1
votes
1answer
807 views

BitCoins to solve human scientific problems [duplicate]

I just learned about BitCoins' existence last 2 weeks. At first, I thought BitCoins could be used to process human scientific problems. I know it is not computing any really useful thing right now. I ...
2
votes
1answer
566 views

What sort of calculations do the miners have your computer do? [duplicate]

I recently heard of a new cryptocurrency (or maybe it's not new and I'm just out of the loop) called Gridcoin which uses your GPU/CPU/ASIC to do research calculations rather than "meaningless" ...
1
vote
1answer
299 views

Can't we use all the mining/processing power to calculate useful stuff? [duplicate]

When computers are mining now, they're actually trying to break nonsense codes. Can't all that processing power be used to do better things with like gridrepublic etc.?
0
votes
1answer
155 views

Can mining puzzles be made socially valuable? [duplicate]

Bitcoin miners work to solve a random puzzle as "proof of work". A huge amount of raw computing power is going into finding the solution to these puzzles, yet the actual solution to the puzzle serves ...
1
vote
0answers
160 views

Limit of Proof of Work [duplicate]

I do not have a complete understanding of bitcoin, but I feel that the PoW concept will not do it in the long run, so I need you to explain to me if I'm wrong. First of all, all this work force is ...
0
votes
1answer
93 views

can cryptocoins be put to good use? now or in the future? [duplicate]

it would be amazing is there was a Cryptocoin that could be put to good use. Like some sort of protein folding. Curecoin, CureCancerCoin exists but it doesn't put anything towards computational ...
3
votes
0answers
66 views

Can there be Bitcoin-like network that also works as whatever@home? [duplicate]

There are Bitcoin-like network that performs calculations that are not locally useful, but interesting for peers. There are {SETI,folding,...}@home networks that calculates something that is (...
0
votes
0answers
55 views

btc mining, the largest supercomuter in existence? [duplicate]

I'm not sure of the best place to ask this so I'll ask it here. I had read that as far as computing power, the Bitcoin nodes represent the largest distributed super computer in the world in finding ...
0
votes
1answer
31 views

Beneficial proofs of work [duplicate]

I'm new to this community and a Bitcoin novice. I believe to have understood the concept and purpose of proof of work but also, that the high energy consumption of proofs of work is a major problem ...
1
vote
0answers
33 views

Meta-Mining: Can mining exist in abstract states? [duplicate]

Has anyone here explored or pondered possibilities for meta-mining? Theoretically, you could have miners work on any computational problem, and then have rewards handed out proportionally as part of ...
24
votes
6answers
1k views

What cryptocurrency systems predate Bitcoin, and how do they differ from it?

Although Bitcoin is certainly making strides as the first cryptocurrency to enter (comparatively) widespread use, cryptocurrency has long been a topic of discussion in fiction and academia. What ...
17
votes
6answers
5k views

Why do we need Proof of Work in bitcoin?

I know that proof of work shows that the person has put in some time and power into the processing. I also know that bitcoin mining is adding a transaction into the blockchain and then the miner will ...

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