61. Why bitcoin can’t be controlled by councils
The Bitcoin Standard Podcast
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Bitcoin Proof of Work - Why Miners Can't Control What Happens in the Bitcoin Protocol
Bitcoin miners produce a search for proof of work blocks. They expend an enormous amount of investment in order to get into the mining industry. Miners have to sell their blocks according to consensus parameters or they end up with worthless equipment and wasted electricity, he says. "Mining is competitive. It's not a central bank"
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