Comment Re:Conversion (Score 1) 595
Because the supply of bit coins is constant per unit time no matter how many people mine them. So if 100 people mined the numbers, it would only take 100 computers. Except CAPITALISM with puny minds cannot handle such a scheme. So people will spend crazy money to get their 10 bit coins just a little sooner than somebody else. This is no more logical than gold mining... Have you seen the show for Mining Alaskan gold flakes? It's equally as wasteful.
Or how about Wall Street High Frequency Trading? HFT is almost EXACTLY like mining bit coins... And considerably more money is spent versus if people just traded their stocks one time per day and used pen and paper.