You are viewing a single comment's thread from:

RE: ELI5: Bitcoin Mining for Dummies

in LeoFinance2 years ago

I know next to nothing, but not nothing. I've watched a number of videos for dummies that started, as you told us up front, way over my head. Maybe understanding bitcoin has to seep in.

There may be unit bias, but not having to buy an entire unit is very easy to explain.

Because it is so difficult and expensive to cheat the system

How could that be done? Did not BlackRock just do it? Or are you talking only about the miners here?

Sort:  

How could that be done?

Cheating Bitcoin means double-spending it.
Also known as 51% attack.
Which I have explained is basically impossible in the linked post.