Basics_05: How Bitcoin Works (Proof of Work & Mining)

Bitcoin Basics Series Episode 5. In this chat Daz, Seb, Dan & Josh dive into the mechanics of HOW Bitcoin mining works, and why it is so fundamental to the protocol. Proof of Work is the centerpiece to merging the physical and digital world. This is part 5 of a multipart series. Full Bitcoin Basics Series here BCB Pod disclaimer here Watch video of this chat on YouTube here Time Stamps: 03:00 - Intro chat 07:20 - Internet dog scams & the future of internet security 15:05 - What is Bitcoin Mining? 27:00 - Hashing, Blocks, Nonces 48:00 — Bitcoin’s REAL world connection & the halvings 55:00 — The Difficulty Adjustment & Bitcoin keeping its OWN time 01:11:00 — Proof of Work environmental impacts, energy implications & dismantling PoW FUD  WANT MORE? HERE ARE FURTHER RESOURCES REGARDING THIS TOPIC: Daz’s pick —  Blockchain Demo andersbrownworth.com Seb’s pick —  Bitcoin Mining 101 on WBD w/Harry Sudock Josh’s pick — Learn me a Bitcoin  Dan’s pick — Immutability and Proof of Work w/Andreas Antonopolous ITEMS MENTIONED: “B is for Bitcoin” by Seb & Daz Looking Glass Education Hash Calculator 5 Minuite ColdCard Video SHOW SPONSORS: BITCOIN 2023: promo code “BCB23” for 10% off tickets. May 18-20, 2023. We’ll be there! Join us for the world’s largest gathering of bitcoiners as we celebrate another year of progress towards hyperbitcoinization. Visit b.tc/conference COINKITE — PROMO CODE “BCB” for discount on ColdCard. Industry leaders in Bitcoin security hardware and fun devices, makers of the COLDCARD and other prominent items including opendime, satscard, tapsigner, the seedplate, coldpower, blockclock mini & blockclock micro. All available at coinkite.com START9 — Sovereign computing. Take back control of your data. Run a Bitcoin & Lightning node. Embassy One: A small uncompromising personal server, capable of running BTC Core. Embassy Pro: The most powerful, secure, and reliable private server in the world. Visit Start9.com SWAN — The place we choose to buy Bitcoin. Dollar cost average daily, weekly or monthly with a company that’s Bitcoin only and encourages you to hold your own private keys. Visit Swan.com. For Swan PREMIUM FREE go to https://www.swanbitcoin.com/premium/blue-collar-bitcoin-experience-swan-premium-for-free/ and use PASSWORD: bluecollarbitcoin CROWDHEALTH BTC — Use CODE BLUE to get 1st 3 months massively reduced at $99/month. Harness the Power of Bitcoin + Health Care. Join other Bitcoiners on a crowdfunding platform while accumulating Bitcoin in the process. Bitcoin specific crowd joincrowdhealth.com/bitcoin SUPPORT THE BCB PODCAST: Podcast 2.0 streaming on our favorite pod app, Fountain: You can earn & stream sats on Lightning Network while listening to pods! Also share and listen to standout clips with the Fountain community. SOCIAL MEDIA Twitter: you can follow us @blue_collarbtc, follow Daz @dazbea1, follow Seb @Sebbunney Blue Collar Bitcoin on NOSTR: npub1a3hrd4wfawr578d5y5l0qgmh7lx8q6tumfq0h7eymmttt52veexqkcfg37 Video on YouTube. Subscribe Here EMAIL: Send questions or comments to [email protected]