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BCB060_WHIT GIBBS: Weathering BTC Bear Markets & The Decentralization of Mining

Blue Collar Bitcoin

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The Beauty of Proof of Work

The beauty of proof of work is that it takes all that power that would be consumed by one entity to produce currency that they control, and distributes that to every person who wants to participate. There's no single point of failure with the bit coin network, right? If a war breaks out, or if a government wants to inflate the currency, they have the ability to control those things. And we really dicentralize this thing, like the centralization. 's been kind of a meam up to this point with bit coin mining, because it still accumulates to the people who have the most access to capital.

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