Basics_05: How Bitcoin Works (Proof of Work & Mining)
Bitcoin Basics Series Episode 5. In this chat Daz, Seb, Dan & Josh dive into the mechanics of HOW Bitcoin mining works, and why it is so fundamental to the protocol. Proof of Work is the centerpiece to merging the physical and digital world. This is part 5 of a multipart series.
Full Bitcoin Basics Series here
Watch video of this chat on YouTube here
Time Stamps:
03:00 - Intro chat
07:20 - Internet dog scams & the future of internet security
15:05 - What is Bitcoin Mining?
27:00 - Hashing, Blocks, Nonces
48:00 — Bitcoin’s REAL world connection & the halvings
55:00 — The Difficulty Adjustment & Bitcoin keeping its OWN time
01:11:00 — Proof of Work environmental impacts, energy implications & dismantling PoW FUD
WANT MORE? HERE ARE FURTHER RESOURCES REGARDING THIS TOPIC:
- Daz’s pick — Blockchain Demo andersbrownworth.com
- Seb’s pick — Bitcoin Mining 101 on WBD w/Harry Sudock
- Josh’s pick — Learn me a Bitcoin
- Dan’s pick — Immutability and Proof of Work w/Andreas Antonopolous
ITEMS MENTIONED:
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SOCIAL MEDIA
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