Bitcoin 101 - Why Mining? Understanding Why Bitcoiners Mine is Fundamental
https://www.youtube.com/watch?v=2cMjR0mB9Sc
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LiteCoinGuy
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Video: Bitcoin 101 - Why Mining? Understanding Why Bitcoiners Mine is Fundamental
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More informations about Bitcoin and scaling BTC on
bitcoin.org/en/
https://bitcoincore.org/en/2015/12/23/c ... reases-faq
&
reddit.com/r/Bitcoin/
More informations about Bitcoin and scaling BTC on
bitcoin.org/en/
https://bitcoincore.org/en/2015/12/23/c ... reases-faq
&
reddit.com/r/Bitcoin/
Re: Video: Bitcoin 101 - Why Mining? Understanding Why Bitcoiners Mine is Fundamental
This Blackboard Series video tells us that, in order to keep the computers running 24/7, Satoshi set up a difficult “puzzle” to solve -- which is the basis mining.
Bitcoinwiki shows that we currently have about 18 to 20 active miners or mining pools -- of course some of these miners also mine altcoins.
Suppose that Satoshi was very tired when he finished publishing Bitcoin and went to sleep for a long rest and wakes up today and looks at Bitcoinwiki’s coverage of the current miners. Do you think that back in 2008 he ran a scenario similar to today’s market capitalization and Bitcoin price, and, given his ingenious ways of creating and envisioning, would find this current makeup of miners to be close or similar to what he had figured it would be?
Bitcoinwiki shows that we currently have about 18 to 20 active miners or mining pools -- of course some of these miners also mine altcoins.
Suppose that Satoshi was very tired when he finished publishing Bitcoin and went to sleep for a long rest and wakes up today and looks at Bitcoinwiki’s coverage of the current miners. Do you think that back in 2008 he ran a scenario similar to today’s market capitalization and Bitcoin price, and, given his ingenious ways of creating and envisioning, would find this current makeup of miners to be close or similar to what he had figured it would be?
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