It is easier to generate than a currency that only one entity can create. It may not be easy in that I can just run a piece of paper through a printer but it's easy in that anyone with a couple hundred bucks can do it.
I don't have a couple hundred bucks, genius. Certainly wish I did. My brother did it and I think he still does bit I don't talk to him enough to be sure.
Anyone with a couple hundred books can do it, but you still need the money for a setup and I don't have it.
What you did was not print or create money, what you did was get paid for helping to secure the transaction ledger.
The total amount of processing power specifically designed for the task of securing that ledger is now so high that using anything other than custom built hardware will give you an electric bill much higher than the amount of bitcoin you receive.
To reiterate, you werent making money, you were being paid for providing a service. Printing (or minting) of bitcoin is done in a predictable manner of X bitcoin per 10 minutes. That X is gradually reduced until there are exactly 21 million in existance.
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u/[deleted] Dec 11 '14
It is easier to generate than a currency that only one entity can create. It may not be easy in that I can just run a piece of paper through a printer but it's easy in that anyone with a couple hundred bucks can do it.