Comment: So, is there intrinsic value in any of this? (Score 1) 385
I'm new to Bitcoin but I've Seti@home'ed a lonnng time ago and done gene folding so I get the distributed CPUs thing. What I'm missing here is why. If I understand it correctly all these processors are essentially looking for rare numbers and when they find one they're give a Bitcoin. Do these numbers have an actual value to science or math or is it just manufactured scarcity? Does all this do anything worthwhile or are bitcoins essentially tokens of luck and wasted electricity? In all that I read about Bitcoins nothing suggested that anything useful is being created by all this cpu time and energy spent crunching hashes. I kinda hope I'm wrong and someone clues me in.