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I still don't understand the whole hashing for bitcoins thing, and who is injection money into the system.
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In the beginning, a bitcoin was somewhat equivalent in value to the amount of electricity that was used to determine a given hash that works as a bitcoin.
Once a hash is found, the finder rushes the the bitcoin database to see if he is the first person to find that hash. If he is, he becomes the owner of the bitcoin.
CPUs gave way to GPUs for a better than 10X power advantage per good hash.
GPUs are not giving way to ASICs for close to 100X power advantage per good hash.
When one space is all "hashed" out they can open up a new space that is based on a different hash so more bitcoins can be mined.
The ASICs good for the first space will probably not be so good for the second, third,...
It is the scarcity and difficulty of duplicating that gives the bit coin its value. (a lot like gold).