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5min chapter
Bitcoin Mining 101 with Sam Wouters (WiM320)
The "What is Money?" Show
Bitcoin's Global Hash Rate
Recently, there's been a massive boom in Bitcoin's global hash rate. Global hash rate is the amount of energy being allocated towards the Bitcoin mining network. If you come in as a minor with a lot of hash rate, let's say you somehow manage to accumulate the majority, then what you would be able to do is go back in time and essentially double spend the transaction. So suddenly, the Bitcoin that you earned as a minor is going to drop in value. It's critical for us not to allow this to happen because we don't want it to happen on our watch.
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