Bitcoin mining explained in golf terms.

Used a new bitcoin mining analogy on today’s show!

Imagine this…

10,000 golfers in a perfect circle

All hitting into a green

All from equal distance

All firing shot after shot after

Trying to make a hole-in-one

When someone makes a hole in one, they get the “golf subsidy.” They win the prize.

And they start again. And over again. Forever.

Sometimes it takes them 10 minutes. Sometimes 1 minute. And sometimes 1 hour.

Some companies invest lots into having golfers like Tiger Woods, Jon Rahm, Scottie Scheffler. Their odds are highest.

Some solo companies have an amateur golfer hitting balls hoping for a lucky shot.

Similar to how the bitcoin mining works.

The more you invest, the higher your computing power, the higher your odds (and overall revenues) are.

But every now and then, the solo miners guess the equation and win the jackpot.

In golf, the more proof-of-work, the more skilled the golfers, the higher their odds of hitting an ace.

And similarly, even the lower skilled golfers have a chance to get a hole-in-one and win the pot.

Makes sense in my head.

Feel free to share with any of your golf friends who haven’t quite grasped how bitcoin mining works.

#golfstr