In a seemingly “unreal” statement, Bristol City Hall, UK has announced that it will switching computer downtime into profiting Bitcoin mining time.
In a 3 month academic partnership with Bristol University computing department we will see every city hall computer being put to use in its spare time. So for example, when like us, we’re at lunch, having cigarette breaks or just listening to Georgey F on the radio; the screen savers will begin mining Bitcoin in an effort to raise cypto money for the budget deficit.
will begin mining Bitcoin in an effort to raise cypto money for the budget deficit
If “Bitcoin” and “Bitcoin mining” are new words to you, this virtual currency has been a hot topic recently and has seen its value hit peaks of 700£ per. coin. But to earn this Bitcoin you must set your computer and electricity bill to work and not you.
You leave a program running, like Asteroid or EasyMiner to solve a complex algorithm and discovering (mining) the next virtual coin’s address. When the program has solved enough algorithms, you are awarded bits of Bitcoin, like (slices of of a gold bar). This earned Bitcoin can then be traded in online currency markets or used to buy services and products, eg, amazon gift cards or other currency. Imagine it just like money you see in your online bank account, but with a new BTC label instead of a £pound sign.
In the case of Bristol City hall, UK, these “mining screensavers” will join their time into a special mining pool to earn Bitcoin quicker. Bristol citizens can join in too to help out and donate a percentage of their earned coin to the council’s electricity bills or a local charity.
The floor’s open, what do you think?
[Note for readers, this is unreal. It’s an idea I had and wanted to share. No organisation, ie. Bristol City Hall Uk, Bristol University Computer Science dept. or Bitcoin, to my knowledge, discussed anything of the sort. It just seemed like a good idea to float for comments and discussion]