d0om on 11/7/2011 at 18:49
The way bitcoin mining is implemented it has to be able to be of known difficulty, so the difficulty can continually adjust as the power of the network grows (keeping the generation rate constant.)
It also has to be very quick to verify (at the moment its calculating data which gives a certain hash, so easy to verify, but hard to do.)
Its hard to do this for useful projects.
Renzatic on 6/2/2018 at 18:43
A friend of mine put $50 down on bitcoins the other day. He made $40, then lost $30. This happened within 15 minutes of his first transaction.
He's pretty stoked, because he's $10 ahead. Wait. Now he owes them money. Wait. He's a millionaire. Wait. Now he's ruined. Okay, he's back up to $60 again.