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Message
re: Installed my first bitcoin miner...
Posted on 2/27/13 at 4:01 pm to WikiTiger
Posted on 2/27/13 at 4:01 pm to WikiTiger
quote:
Bitcoins are mined whenever a block is solved
A what is what? Speak Amurican
quote:
The protocol was designed to allow for only 21 million bitcoins to ever be created and released.
So assuming this is only used in the US, 100% of this currency would be held by less than 1% of the population?
If it's used worldwide, it's 100% held by less than .0001%?
OCCUPY THE INTERNETZ!!!!
I am the 99.999%
2
Posted on 2/27/13 at 4:03 pm to Vols&Shaft83
quote:
So assuming this is only used in the US, 100% of this currency would be held by less than 1% of the population?
If it's used worldwide, it's 100% held by less than .0001%?
huh? I don't understand your point.
Each bitcoin is infinitely divisible, with the current recognized standard being out to 8 decimal places.
Posted on 3/8/13 at 9:40 pm to Vols&Shaft83
quote:And when those 21 million are mined, Mr. Creator starts another protocol with a slightly different "random" key to produce another new currency.
The protocol was designed to allow for only 21 million bitcoins to ever be created and released.
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