#011 - Bitcoin Mining For Absolute Beginners (Step-by-step)
Manage episode 522394600 series 3696963
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Will breaks down Bitcoin mining in plain English so you actually understand what gives Bitcoin its value. He explains how the Bitcoin network works, why mining is essential, how block rewards and halvings are coded, and what miners are really doing behind the scenes. You’ll learn how ASICs, power costs, network difficulty and Bitcoin’s price all feed into profitability, plus how mining is pushing a big shift toward renewable energy. If you’ve ever repeated “21 million Bitcoin” without really knowing why it matters, this episode will flip the switch for you.
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Timestamps:
00:00:00 - Introduction
00:00:03 Why Bitcoin needs to be mined
00:04:12 How blocks connect
00:04:24 Intro to Bitcoin mining
00:04:29 Bitcoin’s 21 million cap
00:05:04 How blocks are recorded
00:05:11 Mining rewards explained
00:05:29 What miners actually do
00:05:55 The mempool
00:06:12 The block vault analogy
00:06:29 Cryptographic puzzle
00:22:27 Elon Musk history
00:24:59 Important
00:25:03 Subscribe
00:25:08 Expert call CTA
00:25:23 Follow on socials
12 episodes