It also needs computational power right? Or everyone will do it in their mobile if your statement is true.
Discussion
you can do it even with your bare hand but based on the math you need a very powerful and quick hand to pick all the tickets down to a winning one.
Speed is the only issue. It isn't "picking tickets" each attempt is one try. It is ONE winning ticket that wins each block. There is NO MATH on the mining side.
For instance when an ASIC submits the first "guess" the second guess has noting to do with the first guess.
The math is on the other side with the nonce. The ASIC is just throwing strings at it. Each block has a new random nonce. Again it is more like a brute force attack on a password then a math problem.
It is literally like saying the guy who won the lottery did it because he was good at math.
agree except for the only one winning ticket. there are kinda 10^57 winning tickets but you need to find at least one of them in between of 10^77. which is pretty rare. this conclusion is based on msth
The only reason there is ONE winning ticket is because once a winner if found the "game" stops.
This metaphor does not match reality at all. Pls stop.
You are the one in denial of reality if you don't like the discussion leave.
I like your podcast, but man, you are hella stuborn.
You see, if you were a random person, I would not care. But you are speaking to a decent public audience, so I think it is apropriate to call you out when you are wrong.
The main point is, that bitcoin ASIC miner calculates SHA256. It takes a block, and hashes it, each time with a different nonce, until it finds a hash lower than a certain number (according to difficulty) - that is SHA256 hash with many leading zeros. This is how proof of work is done.
You do not have to trust me. You can go look it up.
Here this explains it https://www.youtube.com/live/c9aGligBkXY?si=VjDFzKj-AwuhCiW3&t=651
No just speed at throwing out strings nothing more. It is no more math then a brute force attack on a password.
Why are people so addicted to this idea?
Do you thing frogs will really sit in a pot of water slowing heating without realizing it too?
You seem to be confused about what ASIC miner does. It is actually computationally demanding to calculate a hash. Yes, ASIC miners calculate sha256 hashes. Now imagine a machine that can do 100 trilion of those per second. Each hash trying with a different nonce, until a solution is found by chance. Only then the solution (a constructed block) gets submited to the network.
No there is NO MATH being done, try one does not effect try two or try 100 trillion it is again just really fast guessing nothing more.
watch this, and tell me it is not math: https://www.youtube.com/watch?v=y3dqhixzGVo