{"version":"1.0","provider_name":"Rainbow Dash Network","provider_url":"http:\/\/rainbowdash.net\/","type":"link","title":"Cloud Kicker (critialcloudkicker)'s status on Tuesday, 08-Oct-13 20:32:22 UTC","author_name":"Cloud Kicker (critialcloudkicker)","author_url":"http:\/\/rainbowdash.net\/critialcloudkicker","url":"http:\/\/rainbowdash.net\/notice\/3037912","html":"@<span class=\"vcard\"><a href=\"http:\/\/rainbowdash.net\/user\/6761\" class=\"url\" title=\"Pony\"><span class=\"fn nickname\">pony<\/span><\/a><\/span> I do not know snake-oil. But I guess there are similarities. Also Bitcoins do not require computations to make, but rather, it is a decentralized currency, so &quot;someone&quot; needs to keep tabs on the transactions. This is where the miners come in. These miners are basically the people who are checking every transaction and digitalize it into a database. They are rewarded by getting bitcoin themselves. ( And then there are group of people who decide to mine together and split the profit ). Since the amount of Bitcoin availible in the world at any time is a known fixxed number ( snake-oil is not ) the worth is easier to determine"}