Understanding the Dynamics of Bitcoin Mining

This chapter explores Bitcoin mining as a competitive lottery system, where machines generate hashes to earn new Bitcoin. It emphasizes the role of mining in securing the network and discusses the stability of its rules, which ensures a fair and unrigged environment for miners.

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// GUEST //

Bitcoin Mechanic Website: https://www.bitcoinmechanic.ca/

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// OUTLINE //
0:00 - WiM Intro

1:25 - Helping Lightning Startups with In Wolf's Clothing

2:16 - What is Bitcoin Mining?

6:09 - Does Bitcoin Waste Energy?

15:48 - Bitcoin as an “Unriggable Game”

25:54 - Trust Minimization in Bitcoin

32:38 - The Art of Alpha Retreat