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A comment on Banks Are Fleeing Crypto. Bitcoin Investors Should Be Worried. Parent comment

Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by sharkjacobs on Tuesday January 10, 2023 @12:05AM (#34320768)
why would mining something make it valuable?

I can dig up rocks in a field and they won't be valuable just because I'm tired and sweaty and don't have anything else to show for it

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Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by noselasd on Tuesday January 10, 2023 @03:35AM (#34322051)
You could convince investors there's gold in there and give you money to extract it. (and run away with the investors' money)
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Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by strictlymomo on Tuesday January 10, 2023 @02:38PM (#34330335)
Change the word mining to computing, and it’s more intuitive.

A network of nodes compute stuff together, making data available across the network. It’s like asking why is a distributed network valuable.

During the process of computing, the network validates stuff about the data, guaranteeing it properties, so that people can rely on it to a certain degree when reading from and writing to it.

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