Quote:
Originally Posted by Mutt
i have no clue what this is - even after reading on Wikipedia about bitcoins i don't know what you're doing.
What are you doing with your computers to earn bitcoins and who is paying you the bitcoins?
why not just buy bitcoins with cash and speculate on your investment like playing the stock market rather than this geeky 'mining' stuff that i still have no understanding of?
making my head hurt  |
Mining is necessary in order to pace the uptake and prevent fraud because there's no central authority to release new coins.
If the value of BTC keeps trending upwards then yes, it would be more cost effective to buy them rather than mine them right now... but on the flipside, the ROI for a mining setup also improves as the BTC increases in value. The latter is lower risk because the hardware still has resale value if the entire bitcoin network collapsed tomorrow.
Nothing saying you can't do both.