What is mining? Crypto in Plain English – Episode 2 - by cryptohunt.it

What is mining? Crypto in Plain English – Episode 2 - by cryptohunt.it

CLICK HERE to take the free course "Why bitcoin is REALLY BAD for the environment" from cryptohunt.it!

Today: Mining and why people do it

Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice.

When you mine actual Gold you have to use very complicated and expensive tools and it becomes progressively harder to get more because you exhaust your source. Similar to Gold, Bitcoins also need to be mined, but with very high powered computers that are specialized in solving complicated math problems.

Today, it takes about 86k kWh to produce one bitcoin which is roughly 8x the amount of energy a single family home in the US consumes per year and while these computers are fast, it takes one computer 3 years of calculation for one bitcoin.

That is why the space got very sophisticated with huge bitcoin farms where many computers work in parallel. Energy and hardware cost together result in about $20k per bitcoin - plus miners currently receive 6.25 bitcoins for every new bitcoin mined as a reward.

That’s why at the current bitcoin value of $42k it is still a very profitable business.

And tomorrow we learn what an Altcoin is.

Jaksot(373)

How NOT to release an NFT – The Porsche disaster - Episode 349 - by cryptohunt.it

How NOT to release an NFT – The Porsche disaster - Episode 349 - by cryptohunt.it

How NOT to release an NFT – The Porsche disaster Welcome to the Cryptohunt Jam, where you learn – in just a minute or two a day – what is happening in crypto and other game-changing ideas. As always: ...

31 Tammi 20232min

Why are crypto taxes still so complicated? - Episode 348 - by cryptohunt.it

Why are crypto taxes still so complicated? - Episode 348 - by cryptohunt.it

Why are crypto taxes still so complicated? Welcome to the Cryptohunt Jam, where you learn – in just a minute or two a day – what is happening in crypto and other game-changing ideas. As always: In pla...

30 Tammi 20232min

What is Dollar-Cost-Averaging? - Episode 347 - by cryptohunt.it

What is Dollar-Cost-Averaging? - Episode 347 - by cryptohunt.it

What is Dollar-Cost-Averaging? Welcome to the Cryptohunt Jam, where you learn – in just a minute or two a day – what is happening in crypto and other game-changing ideas. As always: In plain English. ...

27 Tammi 20233min

Why do crypto bridges keep getting hacked? - Episode 346 - by cryptohunt.it

Why do crypto bridges keep getting hacked? - Episode 346 - by cryptohunt.it

Why do crypto bridges keep getting hacked? Welcome to the Cryptohunt Jam, where we spend a minute a day explaining what is happening in crypto and other game-changing ideas. As always: In plain Englis...

26 Tammi 20232min

How North Korea stole $100m in crypto - Episode 345 - by cryptohunt.it

How North Korea stole $100m in crypto - Episode 345 - by cryptohunt.it

How North Korea stole $100m in crypto Welcome to the Cryptohunt Jam, where we spend a minute a day explaining what is happening in crypto and other game-changing ideas. As always: In plain English. Yo...

25 Tammi 20232min

A brief history of Gemini and its founders, the Vinkelvoss twins - Episode 344 - by cryptohunt.it

A brief history of Gemini and its founders, the Vinkelvoss twins - Episode 344 - by cryptohunt.it

A brief history of Gemini and its founders, the Vinkelvoss twins Good morning, Cryptohunt community, to the Cryptohunt Jam, where we spend a minute a day explaining what is happening in crypto and oth...

24 Tammi 20232min

What is a short squeeze, and why Bitcoin is over $23,000? - Episode 343 - by cryptohunt.it

What is a short squeeze, and why Bitcoin is over $23,000? - Episode 343 - by cryptohunt.it

What is a short squeeze, and why Bitcoin is over $23,000? Welcome to the Cryptohunt Jam, where we spend a minute a day explaining what is happening in crypto and other game-changing ideas. As always: ...

23 Tammi 20232min

SBF wasn't lying for once, and FTX customers in the US may actually get their money back - Episode 342 - by cryptohunt.it

SBF wasn't lying for once, and FTX customers in the US may actually get their money back - Episode 342 - by cryptohunt.it

SBF wasn't lying for once, and FTX customers in the US may actually get their money back Welcome to the Cryptohunt Jam, where we spend a minute a day explaining what is happening in crypto and other g...

20 Tammi 20232min

Suosittua kategoriassa Liike-elämä ja talous

sijotuskasti
mimmit-sijoittaa
psykopodiaa-podcast
rss-rahapodi
herrasmieshakkerit
rss-rahamania
ostan-asuntoja-podcast
rss-doulapodi
rss-sami-miettinen-neuvottelija
rahapuhetta
rss-lahtijat
rss-paasipodi
juristipodi
rss-sisalto-kuntoon
inderespodi
pomojen-suusta
yrittaja
rss-uskalla-yrittaa
rss-laakispodi
rss-bisnesta-bebeja