Is cryptocurrency essentially renting your processing power ?

[k19_window_maker]

to the government or another 3rd party . like the SETI program for radiotelescopes in the 1990's ? or is it a big failed troll ?

 

[Gam3r01]

Probably not, you are basically running a hard-to-run algorithm for the purpose of running it, creating an ecosystem. Similar to in game currency and trading.
Unfortunately you arent helping out a bigger cause by mining. Its not something like Folding@Home.

 

[ShadyHamster]

The only 3rd party involved is the mining software, the devs of the software take a small cut, it usually switches to a dev mining mode for a min or 2 every few hours.
Programs like SETI or Folding, you helping a cause but getting nothing in return for the use of your hardware.
Mining is earning you money, well cryptocoins at least which can be sold for money.