Turns out you can buy and trade Bitcoin mining capacity as well as Bitcoin. As I’m gradually learning more about the Bitcoin world, I’m finding a rapidly maturing technology space. I just stumbled across a commodity exchange, for example. Akin to an exchange trading gold or oil, this one trades the capacity to mine Bitcoin — processing power measured in GHash/sec.
Called cex.io the exchange looks easy enough to understand. One advantage of trading processing power is all the time you earn it, you also earn the Bitcoin the associated processing power creates. I’ll be giving it a try with a small amount of Bitcoins to see what happens — as described it looks like a better “savings account” for Bitcoin than keeping them on a computer here.
Filed under: Bitcoin