Where do I start ...
Bit-Coin's, the universal decentralized currency based on chewing up the earths resources so you can buy illegal shit from people you shouldn't trust.
It's a boom, like the net in the late 90's. Everyone can be a winner, everyone can be a millionaire, within hours of mining. Or so certain sites will have you believe.
The truth. No you can't.
Any capped currency based on a simple basis of computing prowess is always destined to fail. They claim that whilst decentralizing the currency it means that the value of the currency remains with the people who put the work in. The problem with this is that NO, you didn't put in any fucking work, you just had a smidge of technical know how and more money to invest in a PC that has more chance of breaking a hash to earn you the bitcoin. You are a slaver. In the old days the most wealthy held more slaves and through this held more weight with the financial institutes around them, due to the physical work these slaves could perform and the products THEY FUCKING PRODUCED, the problem is, THERE'S NO FUCKING REAL WORK OR PRODUCTS YOUR VIRTUAL SLAVE IS FUCKING DOING, AND NO FUCKING END PRODUCT FULL FUCKING STOP. So prey tell exactly how this is different, THERE IS NO PHYSICAL ATTRIBUTE TO THE WORK YOUR MINING IS ACTUALLY ACCRUING ...
I'm getting at least 5-10 calls every 3 days about bitcoin mining. A limited cap currency perpetuated in growth by the media. It doesn't hold any value. About as much value as a dog turd in a sock. If I got enough people willing to trade dog turds in socks for real world goods, I'D BE A FUCKING MILLIONAIRE!!.
This is the problem. The more people do it the harder it gets. The main problem is this. IF you were being rewarded for a task that actually accomplished something, lets use folding at home (or FH) as an example, which is mapping the human genome so things like Parkinson's cancer, and whole host OF REAL WORLD FUCKING PROBLEMS were being investigated whilst mining, I'd say FINE IT HOLDS SOME FUCKING VALUE.
IF you were being rewarded for bitcoin mining in the same sense that all the energy you are using and the constant stress was working towards a goal that benefited all mankind like folding at home THEN IT WOULD BE WORTH SOMETHING. When silk road goes down the shitter...and it will...this currency won't be worth the paper it's printed on...OH WAIT IT'S NOT PRINTED ON PAPER... THAT'S THE FUCKING POINT...
Currency in all it's means, decentralized or not, is based on the work used TO GAIN THAT FUCKING CURRENCY... there has to be A REAL FUCKING WORLD PRODUCT OR SERVICE to earn that fucking currency ... whether that's a blowjob behind Morrison's or working a 12 hour shift picking peanuts out of dog shit...this is based on fuck all ... hence why the value shifts with media perception ... "WHY" you may ask "BECAUSE PEOPLE ARE FUCKING STUPID AND THINK IT'S FUCKING WORTH SOMETHING" that's fucking why.
So stop it people. If the people behind bitcoin had tied the hashes in with folding at home then yes it would be worth something. All it's doing is working towards an inevitable end of being worth exactly FUCK ALL because that's the technical amount of work THAT'S GONE INTO EARNING IT IN THE FUCKING FIRST PLACE.
So you heard it here first. Bit-Tard. Anyone who thinks bitcoin is worth something because they read it in the media.
Now go use your PC for something worthwhile like folding at home.
http://folding.stanford.edu/
