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Bitcoin is economics. Proof-of-Work relies on miners investing and competing. Miners that continually invest generally win - and those that do not, die. The st
by finsave 6y ago
Bitcoin is economics.
Proof-of-Work relies on miners investing and competing. Miners that continually invest generally win - and those that do not, die. The stronger the system, the harder for Bitcoin enemies to subvert/takeover the system.
In 2008, miners used CPU's, several years later miners moved to GPU's, several years later miners moved to ASICs, and recently miners moved to data centers.
- heimatau 6y ago> In 2008, miners used CPU's, Umm. It's not that old, testnet maybe but not the public blockchain.