The process of creating new BitCoins is called mining, and it is CPU intensive process that depend on a bit of luck as well (as one is competing against all the other miners currently spending CPU cycles -to see which one get the next lump of cash. The "winner" get 50 +to see which one get the next lump of cash). The "winner" get 50 BitCoin when this happen. Yesterday I came across the obvious way to join forces to increase ones changes of getting at least some coins, by coordinating the work on mining BitCoins across several machines @@ -87,7 +87,15 @@ and people, and sharing the result if one is lucky and get the 50 BitCoins. Check out BitCoin Pool if this sounds interesting. I have not had time to try to set up a -machine to participate there yet.
+machine to participate there yet, but have seen that running on ones +own for a few days have not yield any BitCoins througth mining +yet. + +Update 2010-12-15: Found an interesting +criticism of bitcoin. Not quite sure how valid it is, but thought +it was interesting to read. The arguments presented seem to be +equally valid for gold, which was used as a currency for many years.
@@ -104,6 +112,27 @@ machine to participate there yet.