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Bitcoin Network Outclassing Top 500 Supercomputers

May 17, 2013 at 2:13 by Nicholas Gager

The Bitcoin is found/produced through setting your computer up to use its processing power to solve equations; this can also be done in pools such as Slush’s pool and BTC Guild where the total processing power is determined by the number of users and power of the computers in the pool.

On the Genesis Block, a Bitcoin news and trading website,  in a recent article they reported the Bitcoin having hit a processing power of over one exaflops, and in one exaflop there is 1000 petaflops. Sequoia, IBM’s best supercomputer, only gets about 1.6% of the processing power of the Bitcoin network. Even totaled up the top 500 supercomputers in the world only get about 12% of the power that the Bitcoin network has.

For the average investor this means that while the Bitcoin may volatile and parts of the network susceptible to hackers; the market itself has a rather steady foundation to work on. Investing in Bitcoins in similar to playing the lottery only with much higher chances of a substantial payoff.

As of late the Bitcoin value has hovered in the $110 to $120 mark for the past week or so. Now would be a good time to invest in the market before the market tries to make another rise. The potential of a further drop in the market is relatively low at the moment making now a safe time to invest.

As of 9:10 CST according to Mt.Gox the weighted value of the Bitcoin is at $115.63 having hit a daily low of $122.10.

If you have any questions and comments on the commodities today, use the form below to reply.

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