Why Should I Buy Bitcoin?
- Coursenvy
- Jun 9, 2022
- 2 min read
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Swan's mission is to create 10 million new Bitcoiners. Not just people who are stacking sats, but people who truly understand the importance of Bitcoin. We believe education is the key to accomplishing this mission. The Bitcoin Canon presents thematic collections of the best Bitcoin educational content, curated by Bitcoiners. We hope the Canon will be a collaborative effort to make it easier to share Bitcoin education with the world.
Learn more at the Bitcoin Canon: https://www.swanbitcoin.com/canon
What is Bitcoin?
The biggest hurdles to understanding Bitcoin, in my experience, have been understanding how a completely virtual thing could have such immense value, tied to a general ignorance about what money is.
Below is a selection of episodes and article from my show, Bitcoin Audible, that will lay the framework for understanding Bitcoin in a different way. In my life I have never encountered anything as multifaceted and endlessly fascinating as Bitcoin. I hope you find value in what I’ve put together below.
Learn more at the Bitcoin Canon: https://www.swanbitcoin.com/canon
Why and How Bitcoin Consumes Energy
Bitcoin uses a proof-of-work protocol to operate the network, which means that miners expend real-world resources (electricity) in order to validate transactions and secure the blockchain. Rather than being a bug, this is a feature because it is what keeps the protocol decentralized.
Other consensus protocols such as proof-of-stake may have their use-cases, but they make numerous trade-offs compared to proof-of-work. They are far more complex, with more attack surfaces, and are prone to centralization over time.
In addition, Bitcoin miners use energy in a very unique and useful way. Specifically, unlike data centers or other types of electricity consumers, individual Bitcoin miners don’t require very high uptime or a lot of internet bandwidth, which means they can go to areas of stranded energy production or can be co-located with power generation facilities as load balancers.
Learn more at the Bitcoin Canon: https://www.swanbitcoin.com/canon
How to Earn Passive Income Mining Bitcoin
Head over to https://www.coursenvy.com/bitcoin-mining to learn more!
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