Get Bitcoin Miners Are Cancer Background. To even be eligible, the number must start with a certain number of zeroes. How is bitcoin mining similar to other commodities?
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The heart and soul of the selfish mining argument is that a rational. These miners reject the fixed fees and the proposed compensation model, saying that if a new system were implemented, their income would drop dramatically. In a single year, bitcoin mining consumes as much energy as the whole island of ireland.
You have no idea what that means, right?
And this amount is only increasing as the machines for mining bitcoin continue to get faster and faster and the competition becomes ever more fierce as a result. Further, the fact that most people who invest in it have no idea how bitcoin works, the opposite is true when somebody announces a change to the protocol, or rather, when an announced change doesn’t happen, such as when the segwit2x fork got cancelled. Take a look at digiconomist’s bitcoin energy consumption index and you’ll see what i mean. Bitcoin’s supposed creator, satoshi nakamoto, probably doesn’t even exist!
