1.0 link Rainbow Dash Network http://rainbowdash.net/ Cloud Kicker (critialcloudkicker) http://rainbowdash.net/critialcloudkicker http://rainbowdash.net/notice/3037912 @<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