Oddbean new post about | logout
 What's your go-to one sentence explanation of #Bitcoin mining?

Wanna give away 5K sats each to four legends 🫡

You've got until Friday to submit your sentence! 
 Bitcoin is like digital cash, but smarter—no banks, no borders, and it can't be printed endlessly. 
 Indeed - but what is #Bitcoin mining? 
 #bitcoin mining is the process where powerful computers solve complex puzzles to verify transactions on the Bitcoin network and earn new bitcoins as a reward. 
 Computers playing dice to transform energy into a verifable reality 
 Bitcoin mining is the competitive race to solve cryptographic puzzles, validate transactions, and maintain the integrity of the blockchain, with successful miners receiving bitcoin in return. 

Short slogan could be..."Powering the Future, One Block at a Time."  
 Bitcoin mining is getting paid to verify the integrity of Bitcoin's rules. 
 "Machines hum and whirr,
Solving blocks in silent code,
Digital gold glows" 
 Bitcoin mining is how transactions are verified and added to the digital ledger by computers guessing a 64 digit number that changes about every 10 minutes with the winning computer being awarded a diminishing number of new bitcoins from a finite supply of 21 million.

Thanks for this opportunity! 
 It’s mining, cos it’s not yoursing 😂 
 It's getting warmer, so I heat and stack! 
 "Each 'miner' seeking to participate attempts to solve a puzzle on the network. Every ten minutes, one miner is chosen at random and that miner wins the right to record all Bitcoin transactions into the decentralized ledger that took place since the last contest." - a lawyer 
 Bitcoin mining is the exchange of physical energy for a chance to write the next batch of transactions to the Bitcoin public ledger, including a transaction that credits you with the Bitcoin reward and transaction fees. 
 Online work of creating new Bitcoin through computers or miners by solving math of an online decentralized ledger of transactions in Bitcoin which in turn pays in Bitcoin. 
 Guessing the combination to a digital lock that unlocks bitcoins. 
 An activity that allows us to go back in time - 2000 years and keep a record of data with monetary value and maintain an immutable ledger spread across millions of nodes. 
 Hashrate is the work of a computer, powered by the movement of physical electrons, to compete to compute a digital reality! #Bitcoin 
 Bitcoin mining is trying to guess a number that gives you the right to add the next block to the chain 🤷 
 Just paid out 20K sats to some legends!

Thanks for playing 🫡 

nostr:nevent1qqs82f6a4jsskxtjcrm9mpqdqca543vly7g9d293qxkk9ftlew2mjtgpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsygrm9nht29jdjptqswta0wsacgsmfclmnceagx0l2996zexqe9jq5gpsgqqqqqqs2g4zmg