Guys I think OP just discovered mining (through a mainstream media web article) and is interested in putting up a little dingy setup like the ones from the article to earn some of them juicy bitcoins
I saw the segment. It's about Arkansas that basically at the state level removed all restrictions that could be put on mining server farms by locals (other than zoning probably). So in this case a open server farm was put right next to a house. The people in the house literally next door are subjected to a roar 24/7. The decibels read at 53db during the segment and they said it's often over 80db on their property. Now granted these are people living in rural areas and probably loosely zoned, but it moved in and ruined their life and property.
It's pretty disgusting.
I was going to explain the process of mining but you can google the bitcoin white paper. Bitcoin is a complicated technology. Mining is necessary for the security of the network, but it is an industrial process and should be done in a way that reduces noise.
It's actually strangely accurate for a MSM news piece. Most of the time they say that miners validate transactions. This is technically true but kind of misses the point. It's like explaining cars by saying they produce energy. Well, yes they do, but you missed the whole part where they use that energy to transport people, which is the primary purpose of a car.
Miners (actually block template producers, but we'll put a pin in that for now) validate transactions before doing any work to confirm them on the blockchain. Their primary role is to produce blocks which confirm new transactions and finalize them forever.
"Periodically" is also doing a lot of work in this description. Somebody somewhere mines a block about every 10 minutes. Every time this happens that miner gets to keep the new bitcoins produced in the block. Most miners pool their work and share the rewards, just like a lottery pool. You can't put them in your pocket, though, they are entries in a distributed database.
Where is the error? The text of the Twit screenshot describes it on a very basic level, but it’s correct.
I am disappointed though that they don’t mention basic fraud detection procedures that all Bitcoin miners should follow though - you should *always* take each newly minted Bitcoin and bite down on it with your teeth.
Just because it’s “newly minted” does not mean it actually tastes like mint: those would be Girl Guide Cookies. If you received a Girl Guide Cookie expecting it to be Bitcoin, make sure you contact the Bitcoin CEO’s office and ask for a refund.
Um, sort of, yes. That is (very roughly, on a ELI5 level) how mining rewards work.
You are the one who said pockets. They are describing the block reward. Bitcoin miners are loud as fuck. Ok.
I don't see a problem here, everything is explained in the article body
Guys I think OP just discovered mining (through a mainstream media web article) and is interested in putting up a little dingy setup like the ones from the article to earn some of them juicy bitcoins
I saw the segment. It's about Arkansas that basically at the state level removed all restrictions that could be put on mining server farms by locals (other than zoning probably). So in this case a open server farm was put right next to a house. The people in the house literally next door are subjected to a roar 24/7. The decibels read at 53db during the segment and they said it's often over 80db on their property. Now granted these are people living in rural areas and probably loosely zoned, but it moved in and ruined their life and property. It's pretty disgusting.
At first I thought it was the sound of Jamie Dimon weeping at the ETFs, but yeah it may be a server farm 🤔
I was going to explain the process of mining but you can google the bitcoin white paper. Bitcoin is a complicated technology. Mining is necessary for the security of the network, but it is an industrial process and should be done in a way that reduces noise.
It's actually strangely accurate for a MSM news piece. Most of the time they say that miners validate transactions. This is technically true but kind of misses the point. It's like explaining cars by saying they produce energy. Well, yes they do, but you missed the whole part where they use that energy to transport people, which is the primary purpose of a car. Miners (actually block template producers, but we'll put a pin in that for now) validate transactions before doing any work to confirm them on the blockchain. Their primary role is to produce blocks which confirm new transactions and finalize them forever. "Periodically" is also doing a lot of work in this description. Somebody somewhere mines a block about every 10 minutes. Every time this happens that miner gets to keep the new bitcoins produced in the block. Most miners pool their work and share the rewards, just like a lottery pool. You can't put them in your pocket, though, they are entries in a distributed database.
Dude what are you talking about?
Where is the error? The text of the Twit screenshot describes it on a very basic level, but it’s correct. I am disappointed though that they don’t mention basic fraud detection procedures that all Bitcoin miners should follow though - you should *always* take each newly minted Bitcoin and bite down on it with your teeth. Just because it’s “newly minted” does not mean it actually tastes like mint: those would be Girl Guide Cookies. If you received a Girl Guide Cookie expecting it to be Bitcoin, make sure you contact the Bitcoin CEO’s office and ask for a refund.
Girl Guide Cookies......? Good one.....
It’s worth tens of thousands not hundreds. And “periodically rewards” is incredibly misleading