Do Bitcoin Miners Need Product Managers?
Have you heard of bitcoins? This is the craziest thing - people are writing their own product development definition and inventing a whole new currency! This currency has no connection with any government or country. The whole thing "lives" in the minds of the computers that together make up the Internet. The math behind this is a bit complex, but it seems to be gaining popularity and, more importantly, you can actually buy things using bicoins. Microsoft recently announced that they will accept bitcoin as payment for their products. What does all this mean for product managers?
To Play In The World Of Bitcoins, You Must Become A Miner
So here's how bitcoins work. At first, there were no bitcoins. Then people start running a computer program ("mining"). This program solved a math problem. When they solved the problem, they were rewarded for their "mining" activities with bitcoins from a central location. The math problem then became more difficult to solve and everyone got back to work.
As bitcoins began to appear more and more, people began to accept them in exchange for real goods. Once other people see that this is happening, they are motivated to do more mining. In order to solve the mathematical problem faster, larger and faster computers were needed. Investments in data center resources were made and what was something that people did at home on spare computers quickly became an industrial operation almost overnight.
There was a wrinkle in this whole "print your own money" scheme. As with the "real world" currencies like the dollar, the euro, the yen, the ruble, etc. the bitcoin exchange rate is not a fixed thing. This means that on a given day, the value of the bitcoins you own may increase or decrease. If your company is involved in mining, any significant drop in the value of bitcoins could have a very significant impact on the profitability of your business.
How To Stay In Business In The Bitcoin World
As product managers, if we want to have something to put on our product manager resume, it is our responsibility to make sure that the company succeeds, no matter what product or service we sell. In the case of a bitcoin miner, we sell a mining service that creates value simply by creating more bitcoins. One of the things we must remain aware of is the value of bitcoins, because as the value decreases, the funds we have to work with will be limited.
The way bitcoins are created is by having computers solve a mathematical problem. When the math problem is solved, the company will receive more bitcoins for our efforts. The challenge is that computers are becoming faster and faster, which allows more competitors to enter this market. As product managers, we need to take steps to ensure that the company is able to increase our capacity and increase IT resources.
At the moment, the bitcoin world looks a lot like an unstable border. The rules have not yet been written; however, there is a lot of money to be made. Product managers have an important role to play in keeping the company they work for afloat by monitoring what is happening with bitcoin exchange rates and ensuring that bitcoin mining capacity is maximized.
What All This Means For You
You're talking about a challenge! The product managers who are looking for a real challenge are the ones who will end up working for a company that mines bitcoins. There is no other company or product manager job description that we can consult as a reference when we find ourselves in this situation. It's a real challenge!
The company operates a series of computers that spend their time solving a mathematical problem that, once solved, will provide the company with the funds we need to continue. As product managers, we need to stay abreast of the current bitcoin exchange rate. In addition, we must always look for ways to expand the computing capacity that the company uses to create bitcoins.
This is a crowded market and it could become more and more crowded over time as more and more players enter the market. With a strong guiding hand, a product manager can help his company continue to advance in an ever-changing market. If you are looking for a real adventure, this may be the job you want!