3 ms·
The computing power (proof of work) required to mine Bitcoin scales according to the current hashrate. Since the supply is fixed, the only way to grab a larger
by dustintrex 5y ago
The computing power (proof of work) required to mine Bitcoin scales according to the current hashrate. Since the supply is fixed, the only way to grab a larger market share of the hashrate is to spend more money on more computing power.
- politician 5y agoExactly. The poster's "Blood taxes" -- ownership consensus through escalating violence -- is reminiscent of PoW schemes which establish a distributed consensus through escalating hashrate.