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Bitcoin Proof of Workshop 🔥
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Sep 30 in
From Electricity to Asset
This seems to be the fundamental question of BTC: How does a mining rig convert energy into a hard asset [that’s is, BTC]? 1.) What is the simplest explanation of the science of this blockchain technology? (Perhaps my question is worded incorrectly). How does a mining rig “crack a code?” / mine to produce value? 2.) How does a BTC mining rig transfer BTC to a wallet? Especially cold storage?
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New comment Oct 2
3 likes • Oct 2
You own a rig and set it up to a pool of your choosing. Your rig receives a pro-rata share of all the rewards your pool finds that is stored on your pool account. You designate a withdrawal address from your pool to your person. Once your pool account hits the minimum withdrawal threshold, the rewards are swept to your designated wallet.
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@tyler-abad-4537
Crypto entrepreneur helping others leverage blockchain to attain financial freedom. Gym rat, hooper, snowboarding, hiking. Anything to keep me active.
Active 58d ago
Joined Oct 2, 2024
INTJ
Jersey City, NJ
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