Bitcoin: it rocks

[Patrickssj6]

If hashing a bitcoin actually served some useful purpose, i.e. protein folding, I'd be okay with it.

Exactly what I said when Bitcoin first started.

But, isn't that true with all methods of attempting to earn a living? He who invests the most time/effort/energy/money into something will get the most out of it? Also, the main reason i don't buy an ASIC is because they're useless outside of their realm of mining bitcoins.

More or less our reward for living is creating a surplus for someone e.g. a product or a service.

In case of coins though there is no surplus and the countervalue is energy and time. The appealing thing about this is of course, that we do not have to put in manual labor; it is not our personal energy and time we put in.

The problem arises when you try to buy a real product with Bitcoins. If I work 1 hour on a product, how much work does a computer need to do until I see an equal in value? Or further: Do I even see a value in the coins? Would you sell something you crafted with your own hands to someone who just had his two AMDs running for 2 days? ^^