Posted by K Effective on December 12, 2017 at 17:20:21 from (162.235.236.141):
In Reply to: Bitcoin questions posted by jocco on December 12, 2017 at 12:16:22:
The way I understand(?) it, it is based on a quantity of computing power or capacity. As an analogy, let's say we start trading the YTcoin, based on agricultural horsepower. One YTcoin is equal to one million horsepower. Say I own two old JD poppers at 20 hp each, plus a couple of 60 horse utilities, and a hundred horse vineyard tractor, plus a hundred-twenty horse big unit. I've got 380 horsepower of capacity, which is a minuscule portion of one YTcoin, but I control it. Others on this site have less, some much more. All together we add up to two million horsepower, or two coins worth. The manufacturers are churning out new horsepower at a rate of, say one hundred thousand per day, or ten percent of a new coin per day, not real quick.
So the supply is fairly stable, and limited. Each of us can "farm" for new hp, if I find another Popper in a neighbor's barn and buy it, I can add 20 more to my purse of horsepower. If a person can "farm" another gigabyte of server power, they can add that to their stable.
The one limiting factor in the analogy is that all this horsepower can be connected together by an invisible network of belts/shafts to perform some real measurable work- which is true of internet-connected computer power, but slightly more difficult to imagine for tractor power.
Now, for the value of that defined amount of work, the varies by the person having the work done. As most of you have pointed out, there is a market for control of this horsepower, and right now, it is soaring out of control. Whether you are selling real iron cylinders, beanie babies, or computing volume, if you buy it this morning for $100 and sell it this afternoon for $500, you made real profit. IF you buy high and sell low, you lost.
Anything with the volatility akin to water flashing to steam has the power to burn you bad. Pass the popcorn, I'll just watch this one, thanks.
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