Crypto mining

LabR@t · 6 Feb 2018 at 20:13

Probably a stupid question but what is the point of it? What is the end outcome?

LabR@t · 6 Feb 2018 at 20:21

Raymond Lin said:
Money, like almost everything in the world.

I get that bit, but what is the computing power used for, what it the final outcome of all that power?

LabR@t · 6 Feb 2018 at 20:23

Jokester said:
Maintenance of the Blockchain.

Which is/enables what outcome

LabR@t · 6 Feb 2018 at 20:26

That is what I wonder, what is the final outcome.

LabR@t · 7 Feb 2018 at 09:12

D.P. said:
To answer your question, there is absolutely no purpose or end goal beyond making money over nothing. The computing is not doing anything useful like looking for a cure for cancer, it is just wasting computing cycles and a huge amount of energy.

If that is the case, it's a disgusting waste of power and resources that could be used for good.

I suggest a crypto-tax to help repair the damage to the environment and the extra costs to non miners that these excessive energy loads they are running. Which surely must result in higher prices for us all?