Bitcoin Mining is Not Solving Complex Math Problems

[@serenditymuse]

That you have to do proof of work to handle the consensus problem always seemed a bit of a kludge to me.

[@serenditymuse]

One way functions where it is much much harder to reverse the computation to get its inputs back is at the heard of modern cryptography. And it is math that makes it so. It is not random just computationally expensive. You secret key is dependable because it will take lifetimes to find it by brute force.

[@survivalpodcasting]

Guessing random strings isn't math, miners do nothing to solve math problems. You can argue till you are blue in the face and it won't change a thing. Your assertion is if I had a number in my head and people in a room who randomly started yelling out numbers until one found it would also be math. Only a person who doesn't know what math is thinks that is math. Does encryption itself use math? Yes. Do miners use math at all? No.

[@DulacDental]

Love this. And where can I get that shirt?

[@survivalpodcasting]

Here you go and thanks tspswag.com/product/1984/

[@stevebaldwin2374]

Max Keiser said it was finding prime numbers. But if it is doing what you say it's a sort of scam. Imagine a scam on the Internet, who could have guessed that!😮

[@survivalpodcasting]

Nothing to do with prime jack shit, Max is a scam man all the way.

[@davidtauriainen9116]

Mining *does* involve performing complex cryptographic computations, but the issue here is it's not solving a "problem" in the English sense of the word. There is no external utility from the math that is done. It's exclusively for the bitcoin blockchain and the uniqueness of the individual bitcoin "mined". So at the end of the day, it's wasted energy and compute cycles for a cryptographic string that is too hard/slow to use as currency, so is traded like a commodity, but unlike all other commodities, has no other use than to be further traded, hopefully for a profit. Anyone you're selling your bitcoin to you have to convince them that they will make a profit by selling later, and that you don't want that profit. It's not gold, pork bellies, or concentrated frozen orange juice. If the bottom falls out of bitcoin, you're left with useless computer files. It's most akin to a ponzi scheme with tokens, except even physical tokens would have more value after the scheme goes bust.

[@survivalpodcasting]

Bro there is no way around this, all it is amounts to throwing random strings. There is no adjustment made from one to the next. If it were math at all each failure would give information as to adjusting for the next try. Nothing like that happens.

[@LegacyFarmandHomestead]

Bit coin really makes me feel re tarded. I dont understand it at all. But im putting 5% of my income into it every week. Hope im not making any mistakes.

[@survivalpodcasting]

Your better off than those who claim to understand it and don't.

[@LegacyFarmandHomestead]

@survivalpodcasting Tim pool is doing a Bitcoin episode right now with the founder of strike. Really interesting conversation

[@floid33556]

There is no practical point to this video at all

[@survivalpodcasting]

👆 There is no practical point to this comment at all. 👆

[@waltlongmire6277]

🧮