What Bitcoin Means to Me - How does Bitcoin Work?

I just read the recent article on Bitcoin mining busts on Gizmodo. I think this is hilarious that people are spending the same amount of electricity as a marijuana-growing operation.

So, after reading the background on Bitcoin, I had the following insights:

Bitcoin itself is a complex code; like a gigantic password. I'm talking about something like a number with 1,000,000,000,000,000,000,000 combinations...or more.

So, each Bitcoin is a possible password of those combinations. Each coin mined is a like an accepted answer to a problem.

The "activity" that is going on when you're mining is finding a possible combination of that code.

The reason why the Bitcoins will only last a few years is because, with our current technological standards for someone with a consumer-grade GPU, is that is how long it would take for a brute-force (or similar cracking function) to find each Bitcoin.

Theoretically then (if my hypothesis is correct) Bitcoin could be taken down by supercomputing. If an array of GPUs (like the Playstation $40,000 supercomputing array) was to tackle the Bitcoin minin operation, I'm guessing that the amount of Bitcoins generated by such a system would be far greater than the average person could make.

If that happens, then one entity would control all (or a large amount) of the Bitcoins.

I suspect that the creators of Bitcoin have made provisions for this and put a cap on
the mining program.

Food for thought.

I think Casterboarding is plain wrong.