You’re probably reading this article on Bitcoin Magazine, so I assume you already know what Bitcoin mining is. But if you need a refresher, have a read through here.
Why Should I Mine Bitcoin?
As for the “why” of Bitcoin mining, there are plenty of reasons.
The most obvious reason is that you’ll earn bitcoin. For the privacy enthusiasts, it is worth mentioning that this bitcoin is KYC-free.
But you’re already able to get bitcoin, whether that be by clicking the Fold wheel or using your BlockFi credit card, or buying some on your favorite exchange. The difference with mining is, if you’re doing it right, you’re getting these satoshis below market price. Maybe that’s the most obvious reason to mine Bitcoin. It can be very profitable.
If you were moved by Jack Maller saying that he would die on this hill, you might be looking for a way to do your part. Plebs, like you and me, can get involved by mining Bitcoin.
If you’ve been around long enough, you’re familiar with the old “51% attack.” The quick summary is: If someone could spin up enough machines to have more than half of the total hash rate, they could theoretically damage our beloved blockchain. The attacker could double spend, or censor