Anyone one elss..

In banking Fiat money is cash money @irene

@irene According to Wikipedia its "Any money declared by a government to be legal tender"

So.. It's regular money

no, because it's a bubble. I could have exploited it probably, and have made money, but that's hindsight and by default invalid.

As long as it's not the primary trade on a vital market, it will always be just a fad, and in this case - a bubble.

I don't think bitcoin is invalid @AndSoWeCode

@blockchainer I didn't say it's invalid. I said it's a bubble.

@irene usually you set up your miner to be part of a larger miner pool (by inputting credentials after you've registered with that pool). By doing that, you will do computations as part of that pool, and when the pool finds 1 hash, it gets redistributed to every miner proportionally to the amount of computations made. So that you can spend 2 days mining by yourself and not get nothing, or be lucky and get something; or spend 2 days and definitely getting something fixed.

But it's a total waste of money unless you're situated in China near a power station and your friend can give you a huge discount on bulk orders of ASICs and FPGAs.

@irene well yeah... That's the point. If it were cheap, everybody would do it. In many parts of the world energy is almost for free, and still you don't see everybody doing it.

And if you're doing it using GPUs, you will hardly get your hardware money back.

It doesn't pay unless you optimise really much