In 2014, rapper 50 Cent let people buy his album Animal Ambition using bitcoin. He then let his account lie unused for years, and only just recently discovered that he’s now a bitcoin millionaire, as first reported by TMZ. 662, and what is 1 bitcoin worth rapper’s fans could pick up the album for a fraction of that. Not bad for a kid from South Side, I’m so proud of me.
Ima keep it real, I forgot I did that shit lol. Bitcoin evangelists on Twitter were quick to respond to 50 Cent, pitching him the various crypto platforms and coins that he should check out next. 50 Cent is just one of many people who acquired bitcoin, only to forget about it. He’s lucky that he remembered his login info.
After we left ’em running for another twenty-four hours, we were starting to see some real results. So, while you can mine Bitcoin — or any other cryptocurrency — from any old laptop, you probably shouldn’t. Unless you have a couple thousand years to spare. Think your GPU rig is fast? Digital Trends helps readers keep tabs on the fast-paced world of tech with all the latest news, fun product reviews, insightful editorials, and one-of-a-kind sneak peeks. One of the core challenges of designing a digital currency involves something called the double-spending problem. Users willing to devote CPU power to running a special piece of software would be called miners and would form a network to maintain the block chain collectively.
In the process, they would also generate new currency. When Nakamoto’s paper came out in 2008, trust in the ability of governments and banks to manage the economy and the money supply was at its nadir. The US government was throwing dollars at Wall Street and the Detroit car companies. The price of gold was rising. Bitcoin’s chief proselytizer, Bruce Wagner, at one of the few New York City restaurants that accept the currency.