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Bonus: The Crypto Story by Matt Levine - Part 2

Bloomberg Crypto

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Bitcoin SHA-256 Hashing - A Game of 20 Questions

The goal is an average of one block every 10 minutes. The more miners there are and the faster their computers are, the harder it gets. It's like a game of 20 questions where you're constantly guessing a number that will work. Miners need special hardware to do all of these hashing calculations over and over again. Mining Bitcoin uses as much electricity as various medium-sized countries.

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