Comment: "What I don't like about Bitcoin is the part I'm ignorant of"

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TwelveOhOne's picture

"What I don't like about Bitcoin is the part I'm ignorant of"

Instead of making comments like this, educate yourself!

Or, dialectically, just what about its operation causes you to call it a "waste"? Many computing resources keeping the blockchain current and consistent provides significant value, very little of what it does is wasted.

What you then go on to say about storage space and bandwidth as properties of new coins does not seem like "real value". The real value in Bitcoins is the blockchain, recording every transaction that ever happened. It also allows for derivative coins, like Namecoin which has a secondary utility of providing something like DNS, but using the blockchain.

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