re "passive income"
As others have said then it is not passive -- you are contributing electricity and compute resources.
I feel so old whenever someone starts to talk about bit-coin.
I finally understand how my father felt when I tried to explain how to set the VHS timer to record match of the day.
I tend to find that would be if every time you go looking to see what it is about that some breathless excited person starts, gets about 15 good words out and then goes off topic.
The idea of ledgers and stand ins for cash are.. actually most of the earliest human writing we have appears to be of ledgers and receipts. Granted this is probably closer to double entry bookkeeping which drags us up to maybe the 11th century CE.
It is a massive ledger of transactions, some of the other types also encode text with it to function as a true ledger (so called smart contracts) but eh, that people/computers across the world run and use cryptography shared among them to keep honest. As running such a worldwide system is costly (by design in this case) those doing the running get rewarded for it, initially with bitcoins created inherently as part of it and nowadays by getting a small cut of the transaction (a transaction fee if you will). As you can trade the coins for more conventional money and vice versa it functions as an investment; if the exchange rate goes in your favour, which it tended to owing to the hype, you gain the money if you cash in.
Half quoting for effect....
No One said a lot of bandwidth, did they.
Mining requires bandwidth on a continuous basis generally for optimal effect. Many use free hotspots, mobile broadband etc which is useless in the regard.
Look mate, anyone who's anyone knows your the new come lately know all fuck all. Like v-temp and all the other seemingly knowledgeable keyboard warriors.
The people here don't give a fuck about the in and outs, just their hacks. The ins and outs are all cool and that, until you justice warrior yourself.
Don't half quote for effect, keyboard hero.
Did i say mining effect bandwidth?
Did i say there were data caps on wifi?
And all the other nonsense you spewed about hacking more speed and turning cooper to glass.
Maybe just question the context of a post before trying to make a fool an other while in your own foly.
Mining may require data for maximum returns in a pool or something but it is still nothing compared to even a half hearted youtube session. Your earlier comment said about hacking things for free internet which made no real sense for this which is what people were picking up on.
Wifi may not be a hyper accurate term but if you assume the man on the street parlance of it being home internet then the statement comes good, especially as more places don't really have bandwidth restrictions.
As for the miners hurting things then how is Nvidia and AMD-ATI's inability to produce at volumes required, ones we all know they can do, the problem of the miners?
