View Single Post
Old 05-14-2013, 06:40 PM   #13
Scooby Newbie
Member#: 92399
Join Date: Jul 2005
Location: San Jose, CA

Originally Posted by edkwon View Post

The World's Most Powerful Computer Network Is Being Wasted on Bitcoin

Ahh Gizmodo, the retards of journalism.

And that 1 exaFLOPS number is probably a little low. Because Bitcoin miners actually do a simpler kind of math (integer operations), you have to do a little (messy) conversion to get to FLOPS
Translation: We wanted to be outraged by something and write pretty words on the internet, so we made up a nonsensical conversion from integer math to floating point so we could make things sound scary.

So what we've got here is a representation of the total power spent on Bitcoin mining that could theoretically be spent on something else, like real problems that exist naturally.
Real problems like providing security for a billion dollar electronic currency.

It's kind of like rounding up the world's greatest minds and making them do Sudokus for nickels.
No, it's like using math to solve financial problems. Black and Scholes created formulas for options pricing, on which a lot more world computing power spends its time than Bitcoin.

The internets are full of idiots.
* Registered users of the site do not see these ads.
Silverpike is offline