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You're confusing solving a block with creating bitcoins. The distinction is important (in my opinion), because it determines the reason all that processing powe
by weavejester 15y ago
You're confusing solving a block with creating bitcoins. The distinction is important (in my opinion), because it determines the reason all that processing power is needed.
A frequent mistake is to assume that all that processing power is used to make bitcoins hard to create. This is incorrect; the processing power is used to verify the block chain. The bitcoins created as part of each block are just a reward to make it profitable to participate in the network.