Slide 7: Why Mining? from Is Blockchain Technology the Future of the Internet? Featuring: Bitcoin, Ethereum and Steem/steemit!
STEEMIT EXCLUSIVE: I'm releasing my slides on steemit before posting them anywhere else. Please give feedback and support - you can help make this presentation rock and show everyone at Pubcon how much steemit rocks!
Slide 7: Why Mining?
Text: It makes it hard for people to spend money twice. It makes it “impossible” to change the data later. We call this securing the blockchain. Image: Bitcoin Mining ASICs in Iceland. It’s cold and power is cheap. Bonus for steemit readers This 22 minute video does a great job of explaining how Bitcoin works under the hood. Steem/steemit, ethereum, and all modern blockchains share many similarities with Bitcoin so much of the same information applies.
Subtext: The most important form of “cheating” it stops is called “double spending”. Satoshi should get the Nobel prize in economics for this, but that can’t happen because anonymous people can’t get the Nobel prize.
Image credit.
Slides 1-6
Background Info
I'm giving a talk in Las Vegas, Nevada, USA at the famous Pubcon conference on Thursday October 13th 2016. Here's some more info:
The ten questions and answers, and info about my talk, were even featured on the official Pubcon.com blog.
About Pubcon Las Vegas 2016
Pubcon was created in 2000. I first attended in 2004.
Treasure Island is the official Pubcon 2016 Conference Hotel :)
Pubcon Las Vegas 2016 — named a Forbes must-attend conference and an Inc. top conference for growing your business — features the industry’s leading businesses, start-ups, speakers, keynotes, exhibitors, and sponsors involved in social media, digital marketing, search engines, and online advertising, and will offer a week-long look at the future of technology presented by a vast array of the world’s top innovators... Source http://www.pubcon.com/las-vegas-2016
Image credits Treasure island image is public domain from pixabay.com
Recent posts
Scroll to the bottom, cut and paste nonlinearone into that box and hit the vote button.
Thank You!
Thank you for the support so far everyone - I'm #64 on the witness list and have faithfully witnessed many blocks already :)
Only well identified living people can get a Nobel prize, except for he Nobel prize for peace that can be given to an organization. This should be modified IMO.
Thanks for the info. Is what I said inaccurate though? Anonymous people can't receive the Nobel Prize in Economics.
Everything you said was correct. I was just pointing out that the rules for the Nobel prize should be updated at some point, like the fact that an organization can only get the Nobel prize for peace, but not any other.
For anonymous people, the situation may be a bit more complicated, but it is not too different as for an organization at the end of the day: there is no way to put a face on someone.
Happy to upvote and share this on Twitter✔ for my followers to read. Stephen