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It is estimated that bitcoin is using approximately 23,312 megawatt hours per day (see electric consumption at blockchain.info/stats (24 hour stats)) of electric for block solving algorithms. How does the hash function work in the world of Bitcoin mining? Peter Van Valkenburgh of the Coin Center explains how the hash function in Bitcoin uses entropy to select Bitcoin miners. As always ... With Bitcoin, miners use special software to solve math problems and are issued a certain number of bitcoins in exchange. This provides a smart way to issue the currency and also creates an ... Bitcoin miners are specialized computers that compete with each other to solve a math puzzle. Whichever computer solves the puzzle first gets to create the new block and gets paid 6.25 new ... For more information: https://www.bitcoinmining.com and https://www.weusecoins.com What is Bitcoin Mining? Have you ever wondered how Bitcoin is generated? T...