- Bitcoin mining in a nutshell
So.., isn't the person with the most powerful computer considered the "Centralized Source"?Seems to be defeating the Purpose of Centralized Banks..
Lost me at
This video asks many more questions that it answers. For instance: @ "All you need to do is guess a random number that solves an equation generated by the system" WTF does that mean? Can anyone offer a simplified example of how that might work?
what does getting to write the next verified transactions stem from solving a bitch of a math problem?
and I’m already lost 💀
"system generates a fixed amount of bitcoins and rewards them to you" - who owns this system? where does this system run?
- Mining difficulty and block time
. You said initially that the mining difficulty depends on the mining power . (the more power the harder the task), but then in the end you said that the difficulty increases each year 9:49 Which is the correct one?2. Honestly, I didn't get what mining is and whether is essential or not, but if mining is the only way to put more bitcoins into the system (by rewarding the miners), why don't people just stop mining and cut the supply. This should send the price into the moon?Thanks for the help once again!
- Evolution of Bitcoin mining hardware
- Bitcoin mining pools
, this is what an nft project is doing, you own nft which are physical miners at their farm and the more nfts you buy the more hashpower
- Is Bitcoin mining profitable?
@ "Difficulty" is misspelled.
- Other types of mining
Like the way, he used word "innocent" for CPU's. Because web mining mostly used by malicious websites....where I don't think any innocent CPU user will ever go...😅😅
- Frequently asked Questions
@ not according to China
