Create 1 more BTC?

[SergiusPaulus]

What is the purpose of the mining puzzles that allow the mining?

 

[SergiusPaulus]

A little reference from a verse. Imagine indivisible currency.

“But when that which is perfect is come, then that which is in part shall be done away.”
‭‭1 Corinthians‬ ‭13‬:‭10‬ ‭KJV‬‬

1 Corinthians 13:10 But when that which is perfect is come, then that which is in part shall be done away. | King James Version (KJV) | Download The Bible App Now

But when that which is perfect is come, then that which is in part shall be done away.

bible.com

 

[LostInSauce]

What is the purpose of the mining puzzles that allow the mining?

So they're not actually puzzles, so to speak. I think, from my understanding, that these are very powerful computers basically processing...stuff. And when they process something, it results in them mining something. But I'm unsure about this.

 

[Num7]

So they're not actually puzzles, so to speak. I think, from my understanding, that these are very powerful computers basically processing...stuff. And when they process something, it results in them mining something. But I'm unsure about this.

Aren't these puzzles checksums and verifications for other transactions?

 

[LostInSauce]

Aren't these puzzles checksums and verifications for other transactions?

Something like that, I think.

 

[SergiusPaulus]

The mining computers have to process the math algorithms for the puzzles or whatever. Those new evolving algorithms can be used in evolving technologies. So it’s win win. But the cryptocurrency system itself is very flawed.

 

[MODAT7]

This talks about the fallacies of current money and then gets into bitcoin.