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Episode 3: Bitcoin's environmental impact, who runs the blockchain, and Bitcoin mining
- How the blockchain keeps running 24/7 (who pays for all this)
- What blockchain nodes do
- The incentive to turn your computer into a Bitcoin node
- Where new Bitcoins come from (i.e., how mining works)
- Consequences of mining: high barrier to entry, negative environmental impact, human rights abuses, disproportionate resources
- How the crypto community is solving those issues
- What happens once all coins have been mined
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The corresponding blog post with links and images:
https://www.michaelcaloz.com/2021/05/04/cryptocurrency-part-3-how-the-blockchain-keeps-running-where-new-bitcoins-come-from-i-e-how-mining-works-and-concerns-about-bitcoins-environmental-impact/
- What blockchain nodes do
- The incentive to turn your computer into a Bitcoin node
- Where new Bitcoins come from (i.e., how mining works)
- Consequences of mining: high barrier to entry, negative environmental impact, human rights abuses, disproportionate resources
- How the crypto community is solving those issues
- What happens once all coins have been mined
-----
The corresponding blog post with links and images:
https://www.michaelcaloz.com/2021/05/04/cryptocurrency-part-3-how-the-blockchain-keeps-running-where-new-bitcoins-come-from-i-e-how-mining-works-and-concerns-about-bitcoins-environmental-impact/
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By Michael Caloz
5
33 ratings
- How the blockchain keeps running 24/7 (who pays for all this)
- What blockchain nodes do
- The incentive to turn your computer into a Bitcoin node
- Where new Bitcoins come from (i.e., how mining works)
- Consequences of mining: high barrier to entry, negative environmental impact, human rights abuses, disproportionate resources
- How the crypto community is solving those issues
- What happens once all coins have been mined
-----
The corresponding blog post with links and images:
https://www.michaelcaloz.com/2021/05/04/cryptocurrency-part-3-how-the-blockchain-keeps-running-where-new-bitcoins-come-from-i-e-how-mining-works-and-concerns-about-bitcoins-environmental-impact/
- What blockchain nodes do
- The incentive to turn your computer into a Bitcoin node
- Where new Bitcoins come from (i.e., how mining works)
- Consequences of mining: high barrier to entry, negative environmental impact, human rights abuses, disproportionate resources
- How the crypto community is solving those issues
- What happens once all coins have been mined
-----
The corresponding blog post with links and images:
https://www.michaelcaloz.com/2021/05/04/cryptocurrency-part-3-how-the-blockchain-keeps-running-where-new-bitcoins-come-from-i-e-how-mining-works-and-concerns-about-bitcoins-environmental-impact/