WiM053 - The Saylor Series | Episode 13 | Bitcoin is Cybernetic Life
The "What is Money?" Show
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The Bicoin Model and Proof of Work
Bicoin is a microcosm of capitalism. Every day, 900 big coin get mined. Bunch of transaction fees get paid. All the big coin miners are competing by honest work tom to win their share of that energy. As more miners enter and as the hash rate increases, the difficulty goes up. So you can think about difficulty as um a proto for competition. The same thing in biccoin mining goes on with every other industry. You're launching your own mobile phone company in 20 21 against apple computer. It's better every way.
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