Why is GPU used for mining bitcoins?

Posted by starcorn on Super User See other posts from Super User or by starcorn
Published on 2012-04-09T09:54:12Z Indexed on 2012/04/09 11:34 UTC
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gpu

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bitcoin

Something that I have not really grasped is the idea of bitcoins. Especially since everybody can mine for it using a powerful GPU. I wonder why is GPU used for this purpose? Is the work done by GPU used by some huge organization or is it just wasted resource that goes into simulated mining?

I mean for example SETI uses your GPU for the purpose of finding aliens, but what I can see of bitmining it seems for no actual purpose than wasted resource.

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