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Bitcoin mining

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This topic contains 1 reply, has 2 voices, and was last updated by Avatar of asfisher04 asfisher04 2 years, 10 months ago.

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  • #1698
    Avatar of Elwar
    Elwar
    Participant

    Bitcoins are a decentralized, electronic currency ( http://www.bitcoin.org ). They are derived from people “mining” Bitcoins on their computers. People make money by just running Bitcoin mining rigs.

    I can see two advantages of having a setup out in the water.

    You can set up a mining rig to be overclocked and create heat using the seawater to provide some of the cooling of your mining rig.

    Using tidal forces and waves you can generate the electricity needed to run the machines.

    Plus you have full use of Bitcoins in your community. It would be like building a community around a gold mine. You all trade in gold and have the benefit of being able to create something that is traded internationally.

    http://www.youtube.com/watch?v=Um63OQz3bjo&

    #16540
    Avatar of asfisher04
    asfisher04
    Participant

    I love this idea.

    One of the main features of bitcoins is that the total number of bitcoins in existence approaches but never reaches some fixed number, I believe 21 billion over time.

    If the bitcoin were to become the main currency of a steading, it would be immune to any type of Fed-like manipulation such as quantitative easing, a libertarian’s dream.

    There exist many currency exchanges already, so relying on the bitcoin would make transactions pretty seamless for a steading and allow transferability to all existing currencies.

    This really should be explored further.

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