The Technological Arms Race in Bitcoin Mining
Jacob Cheng, Director of Operations, Bitcoin Group
09-Oct-15 08:07
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Bitcoins have gold- and money-like characteristics. Proponents would in fact say that because bitcoin supply is limited and its mining difficult, it is better than the QE-fraught endless supply of money. However, the high computing power required to prevent bitcoins from being duplicated has pushed mining from the home to the realm of profit-seeking mining companies like Bitcoin Group.
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