The only thing harder than SHA-256 is explaining to your spouse why you bought more.Satoshi Nakamoto (not really)
2^256 possible hashes. Zero possible explanations your partner will accept for that midnight DCA.
Bitcoin mining is the process of using computational power to validate transactions and add new blocks to the blockchain. Miners compete to solve a cryptographic puzzle (finding a valid SHA-256 hash), and the winner earns newly created Bitcoin plus transaction fees. The difficulty of this puzzle automatically adjusts every 2,016 blocks to maintain the target of one new block every ten minutes, regardless of how much computing power joins the network.
If you liked this quote, you'll love hearing Satoshi's voice. 21 comedy podcast episodes of fake intercepted transmissions from the creator of Bitcoin.
Listen Now →