What if I told you that if you just ran a program on your computer, you could make a fifth of a cent every
time the program completed a problem and all you had to do was allow it to run and you could make
around 1 cent a week? That’s pretty lame right. Well, that’s how it was back in the early days of Bitcoin.
As some of you may know the price of bitcoin is now around 27,000 dollars apiece. Now you may be
thinking well why don’t I just do those problems on my computer now and get 2 bitcoin per week I’d be
rich. But I think we all know that if it sounds to good to be true it probably is. The fact is, bitcoin has a
supply cap meaning only so many bitcoins can ever be in existence. That cap is around 21 million and
there are currently 20 million bitcoins in circulation today meaning there’s only 1 million bitcoins left to
be obtained through completing these complex problems and because of that only the hardest problems
are still available which requires processing power that your personal computer could never hope to
match. There is good news that comes out of this for us though. Who creates the tools people
use(pause). We do. Engineers do. So, we can be the ones to design and create new processing units to
be able to complete these problems as fast as possible. The design of these processing units is in very
high demand by crypto miners. This means that they are also willing to pay top dollar for this technology.
And as we all know when there is large amounts of money involved someone will find the solution. So
my question to you is. Is bitcoin just some thing that will fade in a few years or is it the key to motivating
the next group of young engineers to create new and innovative computer technologies.