Thin 256

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Bitcoin Mining (paulstamatiou)

Back when the Pentium 4E "Prescotts" were causing an outrage in the computer
modding community for notoriously overheating, and around when Steve Jobs
failed to deliver on his promise of 3GHz from the G5, I was an avid _folder_.
Folding is the term for running a distributed computing program on your
computer, Folding@Home, that donates your spare CPU cycles to help Stanford
learn more about diseases created from misfolded proteins. This project became
and is still hyper-competitive. People join folding teams, install it on as
many computers as they can find and let them run 24/7 in hopes of completing
many WUs (workunits) and ranking higher.

How does this relate to the title? Well I have recently been playing around
with bitcoin mining and I can't help but draw similarities between the two.
Just like folding you must run a program that uses (lots of) your computer
resources to generate, or mine, bitcoins. But that's where the similarities
end. **So what exactly is bitcoin?** A recently published Slate article, My
Money Is Cooler Than Yours, has the scoop:

> Bitcoin is a peer-to-peer currency, meaning it is not issued by a central
authority, like the dollar ...

paulstamatiou

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