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?
A hash race, that’s what it is! https://image.nostr.build/ad8e97fac5ca8d437a59f98b183b522149d2e875acc1c1948e287934883f43ee.gif
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."
"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!
"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
Hashrate is the work of a computer, powered by the movement of physical electrons, to compete to compute a digital reality! #Bitcoin
Just paid out 20K sats to some legends! Thanks for playing 🫡 nostr:nevent1qqs82f6a4jsskxtjcrm9mpqdqca543vly7g9d293qxkk9ftlew2mjtgpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsygrm9nht29jdjptqswta0wsacgsmfclmnceagx0l2996zexqe9jq5gpsgqqqqqqs2g4zmg