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#43 Decoding crypto: comparing the Fiat system with the Bitcoin solution (part 2)

Money Minded

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The Golden Ticket

When we think about the child, this is actually a node that exists on the bit coin network. The notes are competing in what we call like a computation or tournament. They're trying to be first to validate a block of transactions in order to receive the block ward, which is the golden ticket. And so if they do find that, if they do finding the block reward,  what they get is newly minted bit coins and fees, which are also paid in bit coin. So basically, because there's that limited supply of bit coins that can come into existence, i think we may have mentioned before, that's about 90 % that already exists.

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