Every now and then I read stories on Bitcoins (Wikipedia-article), as GPUs are used a lot to “mine” Bitcoins. They have some extensive benchmarks, and also their discussions giving me insights in specific parts of accelerators like GPUs. Also is this group very upwards if it comes to accepting new techniques. Today something changed: they are a bank now. One of the thoughts I had with this, I’d like to share with you.
If you look at various types of currencies, you see they all have various goals (trade, power, resources, energy, properties, etc). The inequality and differences are even more important than the amount. Various currencies are entangled to a certain goal or resource, but there is nothing entangled strongly to technology. Here is where Bitcoins come in…
Bitcoins are entangled with compute-power – a current benchmark for technological progress.
In this article I’d like to share how the tech-economy and Bitcoins are entangled, seen from the perspective of computing. I left out a lot of the “rules of economy” and hope you can put these in – the below text is just to guide you through the thought-process only. Disagreement is only good – as we learn all from it.